by Greg Palast
John Thain is the guy that looks like a Clark Kent doll you saw grinning from page one of your paper Friday morning. Thain was just fired by Bank of America because the square-jawed executive demanded a $30 million bonus after losing $5 billion in just three months at the bank’s Merrill Lynch unit. In addition, Thain spent over a million dollars redecorating his office while, at the same time, the U.S. Treasury was bailing out his company with billions in aid. Thain’s office re-do included the installation of a $35,000 toilet bowl.
Thain was robbed. He shouldn’t have been fired; he should have gotten a $60 million bonus — and Obama should immediately hire him as Secretary of the Treasury in place of that tax-dodging lightweight that’s been nominated, Timothy Geithner.
Here’s the facts, ma’am. …
For the remainder of the story on Thain’s toilet and the economic crisis, go to www.SuicideGirls.com. Palast’s investigative reports for BBC TV, Rolling Stone and others can be seen at www.GregPalast.com
so criminals run the gov a mint?
So Tim Geithner joins the Rubin Citigroup Goldman exec at Clinton treasury from Kissinger Associates, then gets appointed by Pete Peterson of Blackrock to run the NY Fed, Blackstone creates a huge blowup in MBS real estate , then Geithner sends billions towards rubins friends at citi etc, and pays off Blackstones partners to handel the whole rip off at Bear and Lehman?
“On a good day, Merrill is worth zero. A week before it was about to go out of business, Thain sold this busted bag of financial feces to Bank of America for $50 BILLION.
I’d say that’s worth a bonus”.