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NY attorney general subpoenas ex-Merrill chief Thain in compensation probe

New York Attorney General Andrew Cuomo has subpoenaed former Merrill Lynch chief executive John Thain as Cuomo probes bonuses paid by the investment bank on the eve of its merger with Bank of America.

In a statement Tuesday, Cuomo said his office is seeking testimony from Thain and J. Steele Alphin, Bank of America's chief administrative officer, as he looks into executive compensation issues at firms that have received money under the US government's Troubled Asset Relief Program.

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