Merrill CEO Shopped While Company Burned

[marmar]

via Dollars & Sense:



Merrill CEO Shopped While Company Burned
by Dollars and Sense

From the Daily Beast:

In early 2008, just as Merrill Lynch CEO John Thain was preparing to slash expenses, cut thousands of jobs and exit businesses to fix the ailing securities firm, he was also spending company money on himself, senior people at the firm say.

According to documents reviewed by The Daily Beast, Thain spent $1.22 million of company money to refurbish his office at Merrill Lynch headquarters in lower Manhattan. The biggest piece of the spending spree: $800,000 to hire famed celebrity designer Michael Smith, who is currently redesigning the White House for the Obama family for just $100,000.

For more about the $87,000 rug, the pair of chairs for another $87,000, the area rug for $44,000, etc. read on.


http://www.dollarsandsense.org/blog/2009/01/merrill-ceo-shopped-while-company.html

[Deja Q]

1. Let me guess: He's getting bailout money because he's so damn broke, right?

Tax money partly paid for by the people who no longer have jobs to pay taxes for.

Something is wrong.

[Systematic Chaos]

2. Love your new name, Hypno!

I believe these people need to do looooooong prison terms. Ultra Max, and in General Population. No favors, no attempts to hide their identity or their crimes. As someone else said here today in an earlier thread, it should only take a few gang rapes in the laundry room for these fucks to get the hint.

[jmowreader]

5. Prison Rape Isn't Funny!

You knew that was coming. And it's true, prison rape isn't funny. Nor do I really think it would happen in these bankers' case. You know there are people who are in prison now for whatever reason who had investments that were decimated by people like John Thain. They won't be shy about kicking the living shit out of these fancy bankers, and the guards (who are going to have to work until they die because their retirement accounts vanished, thanks to Thain and his ilk) won't see a thing.

[Systematic Chaos]

9. What is going to end up happening to millions of Americans...

... because of the oncoming Depression is far less funny.

I don't toss shit like "prison rape" around lightly. Frankly this is one of the only cases where I gave a nod - rather than a roll of the eyes - to another poster for suggesting such a thing.

Bottom line is, you don't know everything there is to know about me or my mindset, and you can't possibly be expected to. With that in mind, let me make it a little easier on you by simply saying that nothing seems to be too harsh or painful a punishment for the people who are responsible for destroying the global economy with their greed. That translates into at least tens, if not hundreds of millions, or even billions of lives needlessly harmed, lived with greatly reduced standards, etc... the world over. No punishment makes up for that.

I said what I did without meaning to anger or alarm anybody, so if I did please accept my apologies and I'll do away with such references in the future as I've tended to do previously. :hi:

[jmowreader]

10. In cases like Madoff, I think the Chinese have the right idea

China is the only country I know of that has capital economic crimes--you can be executed for robbing a bank and for certain kinds of economic fraud.

In China, the people they're executing for economic crimes didn't do half the shit our own homegrown bandits did.

The problem with prison rape in the case of someone who destroyed 10,000 Americans' retirements so he could own a 90-foot yacht instead of a 70-foot one is that it just isn't harsh enough of a punishment. I think we're going to have to introduce seppuku to the American legal system--maybe with a gun instead of a knife, but mandatory suicide nonetheless.

[HelenWheels]

3. Defended by Rush

Limpballs was going on about how untrue the info on these purchases was saying there was no commode purchased for that much money. I have been listening to Lumpballs and Slant Head because they are so damn funny trying to be relevant.

[Liberal_in_LA]

4. Why is the guy so orange? He gives all orange people a bad name.

[jmowreader]

6. It's the so-popular Oompa Loompa look...

I also like the heavy blush, eye shadow and lipstick he's got on.

[Liberal_in_LA]

7. It's a ridiculous look!

[jmowreader]

8. No kidding, but lots of normally-pasty talking heads sport it on TV

It's that fake tan shit. Turns ya orange.

Since the kind of tan you get the hard way is brown, not orange, if I was in charge of getting fake tan victims ready for the camera I'd get a gallon can of whatever foundation Michelle Obama uses, and use it as a corrective.

The lipstick, blush and eyeshadow he had on are a different story: Paris Hilton doesn't wear that much makeup.