Oh, and in case you missed the story, Merrill Lynch accelerated their bonus schedule so that they could be distributed prior to their purchase by Bank of America--with US taxpayer dollars.
But, hey, it gets better ... the CEO of Merrill--John Thain--was planning to fly to Davos for the January 29 meeting at the World Economic Forum, which is "committed to improving the state of the world."
He was fired today by his new superiors at Bank of America, but hey, man, the going was good while it was going on. Here's a taste of what the man spent on redecorating his executive office in early 2008, courtesy of CNBC:
Enjoy.
Nice duds, dude. Do you speak "prison," Thain? I'm sure your company financed the building of at least one.
(h/t Yves Smith at Naked Capitalism)
Thursday, January 22, 2009
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