$700 Billion plus $10 Million Bonus
Merrill CEO Thain seeking $10 million bonus
Report: Ailing company’s compensation committee is resisting request
updated 12:20 p.m. ET, Mon., Dec. 8, 2008
NEW YORK - Merrill Lynch & Co Chief Executive John Thain has suggested to directors that he get a 2008 bonus of as much as $10 million, but the battered company’s compensation committee is resisting his request, the Wall Street Journal said, citing people familiar with the situation.
The compensation committee has not reached a decision, but is leaning toward denying Thain and other senior executives bonuses for this year, the people told the paper.
Wait, you are going to die laughing when you hear the reason he deserves this $10 Million Dollar BONUS…
Thain has said he deserves a bonus because he helped avert what could have been a much larger crisis at the firm, people familiar with his thinking told the WSJ. - MSNBC
File this one under dumb ass greed.
Papamoka
Labels: Bailing Out the Banks, Banking Bailout, CEO Bonus, John Thain, Merrill Lynch, Wall Street, Wall Street Bonus
2 Comments:
Thain demonstrates a remarkable tone deafness about the enormity of the crisis we are all in - and in which he has been a major player!
I can literally picture Barney Frank having a Turrets Syndrome breakdown over this guy.
Post a Comment
Subscribe to Post Comments [Atom]
<< Home