Tag Archives: John Thain

Private Jets and Gold-Plated Toilets

I imagine other people hear about Citi’s reluctance to give up its new $50 million private jet, financed by the taxpayer’s $45 billion bailout of the company, and of the $1.2 million used to renovate the bathroom of Merrill Lynch’s CEO, and they think things like “corporate greed,” “arrogance,” “supreme cluelessness.” I, however, think of […]

A Thainful Lesson

News that former Merrill Lynch CEO John Thain was dumped from Bank of America yesterday capped a remarkably tone-deaf period in Thain’s otherwise successful ascent of the Wall Street ladder. After being brought in to restore confidence in Merrill in 2007, and then hailed as a shareholder savior when he arranged Merrill’s sale to BofA […]