After successfully redecorating his office, merging Merrill Lynch with Bank of America, and then getting fired — John Thain is once again a CEO. This time he’ll be heading up a recently-bankrupt commercial and consumer finance company, CIT. [More]
john thain
Frontline Examines The Bank Of America/ Merrill Lynch Merger
By 6.17.09
The merger between Merrill Lynch and Bank of America was sold to us as a marriage made in heaven that would save the financial system. It wasn’t, and it didn’t. Now Frontline takes a closer look at the now-infamous debacle that cost tax payers billions — and CEO Ken Lewis his chairmanship.
Merrill Lynch Bonus Recipients May Be Revealed Next Week
By 3.13.09
Well, it looks like the whole Merrill Lynch bonus scandal may have a Scooby Doo ending — with a judge unmasking the executives by the end of next week.
Merrill Lynch CEO: "Nothing Happened In The World Or The Economy" That Would Justify Suspending Bonuses
By 2.23.09
You know how Merrill Lynch recently lost $15 billion? Remember how we’re in a unbelievably huge global financial crisis that threatens to unravel the fabric of our economy? John Thain says that’s no reason not to pay billions of dollars in bonuses.
NY AG: Before Losing $15 Billion, Merrill Lynch Quietly Made 696 Employees Millionaires
By 2.11.09
New York Attorney General Andrew Cuomo wrote a letter yesterday to Rep. Barney Frank (D-Mass.), head of the House Financial Services Committee, (which is currently holding hearings Washington on how banks are spending bailout funds.) In the letter, Cuomo expresses concern that Merrill Lynch moved up their bonus schedule so that they could make sure that taxpayers would get the bill.
Is Bank of America About To Become THE Bank of America?
By 2.5.09
Bank of America‘s stock slid to a 20 year low today as investors became increasingly convinced that the bank would be nationalized. Share tumbled 18% early today, before climbing back up in the afternoon, says CNNMoney.
Thain's $35,000 Commode On Legs Actually Chest Of Drawers
By 1.23.09
Regarding the $35,000 “commode on legs” ex-Merrill-Lynch CEO John Thain bought for his office, commenter VikramJaffe informs me that it is not as I theorized, a claw-footed toilet, but rather a chest of drawers on legs introduced by the French in the early 18th century. Too bad no one informed me of the distinction before I took a crap in it.
Bank Of America Fires Former Merrill Lynch CEO
By 1.22.09
It seems that Bank of America didn’t really appreciate that unexpected $15.4 billion dollar 4th quarter loss by Merrill Lynch — because its former CEO, John Thain has been shown the door.
Merrill Lynch CEO Spent $1,220,000 On Office Renovation As Company Prepared To Burn
By 1.22.09
Merrill Lynch CEO John Thain spent over $1.22 million to renovate his office in early 2008, just as his firm was getting ready to slash thousands of jobs, cut back on spending and dump businesses. Here’s this douchebag’s big-ticket tally of personal aggrandizement in the midst of financial crisis:
