the Merrill Lynch Board rejects Thain's compensation request!?!?

The Board pretty damn well reject the request and demand at least 50% of his current pay package back for abject failure to perform to standard.

If that doesn't happen, then the U.S. Treasury and Government should demand the money back through the courts system.

Lordy I hate these arrogant bastards!

[« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5]

Fine. Give it to him in pennies. Loose. Delivered to his driveway by dump truck. And make him, not his servants, clean them up with a garden trowel and put them in those little paper penny rolls. In short, make him WORK for his money for a change.

[« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5]

"Thain, for his part, has predicted that "thousands" of other Merrill jobs will be lost in the wake of the merger."

And how many of them could be kept on the payroll in some capacity for a year or even two just with what he wants as a bonus for keeping the company from doing even worse than its 11 billion dollar failure?

[« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5]

...fools like this got tarred and feathered, then driven out of town. Perhaps that wasn't such a bad practice. Time for a revival?

[« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5]

But "You're-Out-Of-Your-Fucking-Mind NO!!!"

Bizarro World, indeed!

[« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5]

His bonus for keeping his company from failing completely.. though still losing 11 billion dollars would pay 142 employees for a year if they were each making $70,000.

Fucking disgusting... and NO ONE seems to be interested in actually bailing out or helping anyone but large corporations that have fucked themselves with bad business practices.

[« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5]

Mr. Thain obviously believes that unless you ask you won't get! Time for folks to wake up and tell these self righteous, arrogant twits just where to go!

For asshole of the year Thain gets my vote - no contest!

[« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5]

I have no idea what even 1 million dollar would be like. Actually, you can take that amount much, much further down to the bottom. But let me tell you I still live very well. Think of Darfur instead of absolute greed big boy..

[« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5]

Throw this arrogant ass to the curb with out anything. This is what's happening to workers being laid off, downsized, or fired in this ecconomy. Give him what everyone else gets: NOTHING!

[« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5]

.

[« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5]

Something that we all must have noticed by now, these guys do not take responsibility for the problems. All of these "bailout babies" still expect to paid salary and bonuses. Could it be that they are so deluded that the actions of selling worthless stock back and forth to each, wholly mismanaging businesses that till now have weathered the toughest of times, means little or nothing to them? Who are these people, they seem to be of a different set ethics from the rest of us. Who ever gets paid for destroying a company?

[« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5]

I prefer the idea of a public flogging, followed by enough time "on the pillory" to allow each of us to come spit on him or throw something. That being said, I do like that idea of the pennies on the lawn, too.

[« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5]

Have noose, need gallows...

Line 'em up, string 'em up,

[« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5]

Every so often, as Jefferson knew, the people have to storm the castle and have a revolution. The insulated rich will not stop until they are physically stopped.

Otherwise, you'll always hear excuses, spin, and their mouthpieces justifying the separation of the classes and why it should be that way.

Make no mistake, we have classes in America. The ruling class/rich, of which these people, these corporate executives and the Washington enclave (the president, Congress, the 40,000 lobbyists) all belong, represent themselves. Our job is to keep providing them with money and know our place.

Until we force them to see it another way. And sending more "captured representatives" isn't going to change things. The system is rigged.

[« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5]

We must find out what drugs they give these people to rid them of any moral conscience.
I'm not kidding, I am infuriated by needless Drug testing of applicant as a standard. This is not only legally questionable but also the antithesis of our very legal foundations.."Innocent Until Proven guilty'
Well this guy has proven to me he's under the influence and endangered the Livlihood of Multitudes of American citizens.
It's not only been the CEO's who've sent their Corps down in Flames which set these unscrupulous 'standards' ,it was the entire industry..So No CEO On Wall Street was Ignorant of what was going on...Offered the same scam products too..Just haven't gotten bitten YET.
His Obliviousness to the Catastrophic Crisis we are currently facing BECAUSE Of His Industry, Is Dumbfounding...Thus Drug testing is Warranted.

[« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5]

I always thought a bonus was awarded on the basis of successful performance, either of the organization or of the individual. This guy screwed up royally and took his company with him. So why would he expect a bonus? He ought to be paying them.

[« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5]

He is just showing what kind of an ass he really is! Contract or not for a bonus guarantee is just WRONG with these circumstances and EVERYONE knows it! IMO I think all CEO's and their cronies should be FIRED and let go with NOTHING just like all the people they have caused to be laid off from the failed companies. Its time ALL of us stood up to this kind of GREED and said ENOUGH!
BTW isn't usually up to the majority of shareholders to allow for and decide the amount of the bonus. Regardless of whether or not that is the case. It's time for all this ARROGANCE AND SELF-RIGHTEOUS GREED TO STOP!
The country is going down the tubes fast because of these people and our government has failed to stop them. It's time for the people to stand up to all of them and put a stop to all this obscene outrageousness!
I am sick of all of them. They are the ones who disgrace the USA with their GREED and Power. Just think how that looks not only to us but the rest of the world. It' all a sham and a shame.

[« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5]

If the government stands by and lets this happen, the government
should withdraw all financial support it has promised because that is
the right thing to do. NO ONE is worth this kind of bonus. Let him
have the same kind of bonus I get each year. IF I perform, I get to
stay another year. IF he doesn't like that, he can go to some other
country and rip their people off. IF this guy had an army of men he
would be unable to loot that much money by force from any bank in the
country. This is another example that 85% tax on an income is NOT too
much. If there is never too much bonus, there is never too much tax.
85% of 10 million dollars would still leave him $1.5 million dollars
which is still far too much money to give one individual. No one is
worth that much; this man is a thief!

Let Merrill Lynch know you don't want your tax money to go to the
thief that is already overpaid to run the company. The Merrill Lynch
compensation committee should immediately fire this thief for making
such a request. He is not acting in the best interest of the
stockholders and especially the people who entrust their money to this
company. http://ir.ml.com/contactus.cfm

None of the people on Wall Street should be receiving any bonus.

Cc: All US Senators, all US Representatives, especially Harry Reid. Try something unique for you, Harry, take a firm position and stand by it!

[« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5]

merrill lynching?

[« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5]

We should thank John Thain for giving us this unforgettable glimpse into the heart of a modern day robber baron. To the extent we are able to digest the criminal avarice of Mr Tain we will be better positioned to reverse the course set by the Bush Administration and other advocates of "free trade."

If Merrill Lynch gives this creep the 10 mil he is asking they will all be guilty of crimes against the state.

These bastards have done more harm to America than the Mafia ever thought of.

[« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5]

WASHINGTON (AFP) – Troubled US bank Merrill Lynch said chairman and chief executive John Thain has withdrawn his request for a bonus this year amid rising public anger Wall Street's role in the country's financial crisis.

News report place Thain's annual salary at 750,000 dollars. He also reportedly received a 15 million dollar signing bonus when he was hired as Merrill Lynch's CEO last December, along with a pay package valued at between 50 million dollard and 120 million dollars over several years.

Thain should be let go. To receive a bonus when your company lost over 11 Billion dollars in that same year...is insane! He already stole 15 Million dollars as a sign up bonus. Are we suppose to believe that helped Merrill Lynch? With the thought of 50-120 million over several years hanging over the company's head, he should be terminated. He has already been rewarded enough...right Harry Reid?

[« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5]

Thain joined Merril Lynch at a time when the boat was sinking.

He looked at the boat, found a safe harbor in Bank of America and sold the business at a very decent price.

If he hadn't the shareholders would have been at $0.10 instead of the $27+ that they got.

Thain is also one of the smartest and ethical people on Wall Street. If there is anyone who deserves 10 million in compensation, he does.

[« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5]

What a downer....for our Main Streeters! What bad modeling for our young people.....! for our belief that our sample of democracy should become the world order! for our trust that we support a justice system that is fair to all! for Main Street who is being kicked to the street dispite the hard work, the education and talent of many of its working force.

We have created a Frankenstein....shameless men who lead without pride in real accomplishment, men who are unhaunted by their mistakes or misdeeds, men who are unconcerned about the very people who trusted or worked for them, men who have little regard or understanding of how the decisions they make now can impact the future of the very earth they inhabit.

And Bank of America will find his services desireable? on what basis? What are his credentials or assests to a restructuring? What should companies, wanting to make change a transparent reality be looking for in staff members?

I believe that first and formost they should be looking for people who are guided by the ability, their knowledge, their wisdom.
I believe that only in creating a win-win change for all can we have peace and prosperity for all.
I believe that all leaders need the vision to understand that need for positive development is now.
I believe that they need the ability to make that vision a reality.
I believe that they need the CONSCIENCE and concern for humanity not to allow themselves to stray from the path that will benifit all.

Let the shameless, the "Me first, formost and only" walk 40 years in the desert till their children have become the new order of A Better World.

Surely there are people more qualified to lead our businesses and government then the men who have either been party to bringing us down or did not have the wisdom to understand the decisions they were making.

[« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5]

Why wouldn't they be asking for more and why should Reid think otherwise? With Bush still in the White House and Reid and Pelosi caving into the demands of the Republican criminals at every turn, why wouldn't a Bush crony think he should be given more? Look at what they've already given with no strings.

[« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5]

They don't have the sense to know how to use it. They need to be reigned in permanently. Old Hickory fought with the eastern bankers in 1836. They hated him for it and saw to it that history reported their side. I'm beginning to catch up with 1836. Before long I'll get all of the way there.

If bankers knew how to make money they wouldn't need yours and mine. The Roman empire operated for 600 years with no commercial bankers. It has been estimated that they had an inflation rate of 1% per century for a total of 6% inflation over 600 years. Was this because they had no commercial bankers? I leave this to you.

WE HAVE NOT YET HAD A 600 YEAR RUN.

[« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5]