Former Tennessee lawmaker, current Wall Street worker, and possible Senate candidate Harold Ford has already taken heat from his likely rival for not disclosing whether or not he earned a "taxpayer-backed" bonus for his work at Merrill Lynch. Now, he's taking heat from himself. Sen. Kirsten Gillibrand's campaign is circulating a video of a March 2009 appearance by Ford on MSNBC in which he says there is a need for greater "transparency" regarding banking bonuses funded with TARP money.
Ford Wants Bonus "Transparency," Won't Discuss His Bonus
Did Harold Ford Receive "Taxpayer-Backed" Bonus?
Sen. Kirsten Gillibrand wants her likely Democratic rival to tell voters if he received a "taxpayer-backed" bonus from his Wall Street job. Gillibrand is pushing former Tennessee lawmaker, current Merrill Lynch employee, and possible Senate candidate Harold Ford Jr. to say whether or not he received cash during a controversial round of bonuses at the end of 2008 from companies that were bailed out with TARP funds.
Bear Stearns Big Shot Suing To Become Despised Bonus Baby
A former Bear Stearns banker is suing his former firm and its new owners, JP Morgan Chase, for a bonus he feels is owed to him despite the firm's collapse last year. Now that the storm has settled over bonuses going out to employees of failed Wall Street giants, Gary Reback is suing for $2 million in bonus money and in additional $1.1 million for a severance offer he says was inexplicably pulled off the table in the eleventh hour. The Scarsdale man was one of the top twenty highest paid employees at Bear in 2007, when he earned a bonus of $4 million. His lawyer told the Post, "Gary had nothing to do with losses. He traded different products completely outside the subprime-mortgage mess. They offered him a severance and now they're reneging—it's shocking, bad faith behavior."

