08 December 2008

Not Enough Bullets: John Thain Edition

Yes, the CEO of Merrill-Lynch wants a $10 million year end bonus, despite losing money in each of the previous 4 quarters, over $11 billion for the year, and were in such dire straits that they had to sell themselves to Bank of America, and he wants a bonus.

What is this? Are investment banks a form of Ivy League welfare?

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