Friday, February 20, 2009

"Soy un perdedor!"


"Soy un perdedor,
I'm a loser baby so why don't you kill me,
double barrel buckshot,
Soy un perdedor,
I'm a loser baby so why don't you kill me..."
- Beck, "Loser", 1994

The dicks are running amok in the world these days. Bernard Madoff. Sir Allen Stanford. Add John Thain to the list - if you already haven't. He even looks like a dick.

Thain was the last chairman and chief executive officer of Merrill Lynch before its merger with Bank of America at the end of last year.

Merrill paid out $4 billion in bonuses to Merrill Lynch employees last December, a month earlier than it did in past years and just before the deal with Bank of America closed. This despite nearly collapsing and posting $15.3 billion in 4th-quarter losses.

Get this: Before the 4th quarter loss was posted and once Merrill had merged with Bank of America, Thain suggested to the board of directors that he receive a bonus in 2008 of as much as $10 million, because he "saved Merrill" by selling it off to Bank of America. After the compensation committee at Merrill resisted the request, Thain reportedly dropped his request on December 8, 2008...

...and dishes out $4 billion in bonuses. Nice boss, eh? Guys like him, Stanford and Madoff? Screwing people in the ass. Fucking prick.

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