With Merril Lynch's sale to Bank of America set, it looks like John A. Thain, Merrill Lynch’s chairman and chief executive, will walk away with about $25 million for his time at Merrill. He's been on the job less than 10 months.
But this pales in comparison to what his predecessor got. E. Stanley O’Neal, received an exit package worth more than $161 million last October (2007). O'Neal had earned $70 million during his four years at the head Merril Lynch.
That's a sum total of $231 million for helping run the company into the ground.
After standing by and watching George W. Bush give a wink and a nod to this pirate-like business model, which has helped steer the country off an economic cliff, republicans want to keep things moving in the same direction. Only this time, they want to give the country over to a man who admits his knowledge of the economy is limited, and consists primarily of reading through Alan Greenspan's book. Talk about putting ideology above the facts.
I think I hear Nero's violin ...
- Mark
No comments:
Post a Comment