John Thain A Wall Street Thug
Who is John Thain? A Wall Street Thug, a greedy American, an arrogant thief, a corrupt corporate criminal! John Thain was the CEO of Merrill Lynch until he was FINALLY FIRED on January 22, 2009. Merrill Lynch was bought (with tax payer money) by Bank of America in September 2008 for a whopping $50,000,000,000! The wonderful Bush Administration believed it best to use taxpayer money to bail this corporation out rather than see it ‘go under’. The Bush Administration also gave Bank of American $25,000,000,000 to encourage them to buyout Merrill Lynch.
During December 2008, it was revealed that Merrill Lynch had lost over $15,000,000,000 in 2008 and $4,000,000,000 in the fourth quarter alone, after the Bush bailout.
What did Bank of America do when this was discovered? They went back with their hands out as their CEO Ken Lewis, asked for another $20,000,000,000. This Bush deal costs American taxpayers $45,000,000,000!
Now back to John Thain. Mr. Thain received $83 million in salary and compensation in 2007. Mr. Thain also knew Merrill Lynch was faltering and going under, but in spite of the losses by his company, Mr. Thain attempted to pay himself a whopping $10,000,000,000 bonus for brokering the deal to be bought out by Bank of America. Also, he gave his top executives another $4 billion in bonuses.
Top rub ‘salt in the wound’ of American taxpayers, Mr. Thain spent another $1.2 million to redecorate his corporate office, spending $35,000 for a toilet, $87,000 for a rug and he paid his personal driver $230,000 in annual salaries.
John Thain not only cost taxpayers huge sums of money but he lost the shareholders of Merrill Lynch billions.
John Thain should be lynched and hung from the highest tree in the middle of Wall Street. He is my opinion is a typical Wall Street criminal and represents what is wrong with run-away Wall Street Corporations which took their lead from George W Bush, Ben Bernanke and Henry Paulson who lifted regulations which would have prevented some of this corruption.
If government is ‘of, for and by the people’ the people need to and should stand up against Congressional leadership including John Boehner, Mitch McConnell, David Vitter and other Republicans who supported and voted to allow this type of corruption. While America’s economy burns, Thain, Merrill Lynch, Bank of America, AIG, and so many many other greedy Wall Street companies continue their pillaging of American taxpayers.
ENOUGH! I fully support President Obama’s plans to regulate Wall Street and other irresponsible financial institutions which lead the way to bring America to her knees, don’t you?
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