Merrill bosses 'subpoenaed'

New York state's top legal officer issued subpoenas on Wednesday to seven executives who received tens of millions of dollars in 2008 pay from Merrill Lynch & Co before it was taken over by Bank of America, a person familiar with the investigation said.

Attorney General Andrew Cuomo is seeking information from the executives who were rewarded with millions of dollars in cash and stock even as Merrill's net loss swelled to $27.6 billion last year.

The names of some of Merrill's top earners and their compensation were published by the Wall Street Journal in Wednesday's editions, citing documents and interviews.