John Thain, former CEO of Merrill Lynch, who was “asked to resign” by BofA’s CEO, Ken Lewis last week for what I now want to call “serious greedy scumbag behavior”. Thain is believed to have booked trading losses right after the announcement of the BofA takeover, authorized huge end of year performance bonuses, and redecorated his office at a the cost of more than a $1,000,000.

Thain - Exemplifies Wall Street Excesses and Entitlement Mentality

I was slightly over a month ago and we were talking about this guy in relation to his floating the idea he should get a $10,000,000 bonus. This act of greed and arrogance irked NY Attorney General, Andrew Cuomo so much he penned a letter to the Board calling this idea “oxymoronic to say the least and certainly a thumb in th eye to taxpayers.”

This didn’t slow down Thain…cuz here we are again. And he did pay bonus …bonues he defended ever so lamely in an interview this week with CNBC, Maria Bartiromo, where he answered,

“If you don’t pay your best people, you will destroy your franchise and they’ll go elsewhere.”


You’d already been bought by BofA, pal…your franchise was so worthless it had to be usurped by a stronger one!

Bartiromo has her own scandal brewing in landing this interview. It seems Thain’s newly hired PR guy is Barteromo’s as well. Can you say “conflict of interest”, Maria? See Page Six for more.

Bartiromo asked about the million dollar plus office redecoration as Mawreen Dowd writes:

“Bartiromo pressed: What was wrong with the office of his predecessor, Stanley O’Neal?

“Well - his office was very different - than - the - the general décor of - Merrill’s offices,” Thain replied. “It really would have been - very difficult - for - me to use it in the form that it was in.”

Did it have a desk and a phone?

How are these ruthless, careless ghouls who murdered the economy still walking around (not to mention that sociopathic sadist Bernie Madoff?) - and not as perps?

Bring on the shackles. Let the show trials begin. “

You are right Ms Dowd. I too want shackles, leg irons, and the most humiliating trials of the century.

I also want to be 20 years old again with a washboard stomach…neither are very likely.

Good Luck!

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