"This week began with a squabble. John Thain was sacked as head of Merrill Lynch after giving out $4 billion in bonuses – just before announcing $15 billion in losses for the 4th quarter of ’08. The Bank of America, Merrill’s new owner, said it hadn’t approved the bonuses. Thain said it had been ‘informed.’" I guess he'll be crying in his mansion.
A Country of Madoffs
Posted by StingingNettle 376 days ago (http://www.dailyreckoning.com)
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