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John Thain Resigns
Does he get to take the office goodies with him? CNBC is reporting that former Merrill Lynch CEO John Thain has resigned this morning, less than a month after his brokerage firm was taken over by Bank of America. Thain became Bank of America’s head of global banking, securities, and wealth management after the merger on January 1. His relationship was strained with Bank of America head Ken Lewis after Merrill’s unexpectedly large forth-quarter losses, and he was facing pressure due to Merrill’s decision to move up its year-end bonuses. Charlie Gasparino broke word today on Thain’s lavish office, which included an $87,000 rug.
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He is, without a doubt, the biggest cheat on the sheet!!!
Gee! Does this mean the boy wonder M. Smith deal for 740 Park Avenue and the Rye mansion is a no go? Or did the cost of the rug pay for a simple re-do?
So here's my question: Can we literally take back the money that was given out as bonuses (since its government money)....or is it "too late" (i.e. not spelled out clearly enough when the money was given them)
Well, well, well. Surprise, surprise! Did his parrot fly away, Matie?
Obviously he is not stupid and probably converted the $800,000 fee Merrill Lynch paid his decorator to do his office to his personal use for his apartment or country house
"hockeydog", I read your reparte' with "magicman" the other day, wherein you likened Thain to a pirate, and magicman stepped in to defend Thain as a great achieving individual, and likened him to Captain Cook. Many of us are holding our breaths that magicman will reappear to address the latest developments, and explain once again why we are all wrong about this cretin Thain.
If Smith was paid $800k by Merrill Lynch for decorating an office, there is definitely something amiss. I would imagine the company has a claim for frraudulent transfer and the money will have to be returned.
Why can't they all be arrested. I just don't get it. Why can't they.( Meryl Lynch ) return everything? Also, the decorator is also the decorator for the Obama family.
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