HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » Mitt Romney Considering I...

Tue Oct 2, 2012, 04:36 PM

Mitt Romney Considering Infamous Ex-Merrill Lynch CEO To Replace Geithner

Mitt Romney is considering appointing a man who oversaw the implosion of a major Wall Street firm and got himself a $35,000 toilet while doing it as Treasury Secretary.

John Thain, the former CEO of Merrill Lynch, is on Romney's short list of possible Treasury Secretary picks, the Wall Street Journal reports. He paid his executives massive bonuses before selling Merrill Lynch to Bank of America during the height of the financial crisis with the help of government bailout money. He tried to snag a $10 million bonus for himself as the firm was collapsing, and he even spent $1.2 million on remodeling his office -- including on a $35,000 toilet -- as Merrill Lynch was imploding. Bank of America CEO Ken Lewis pushed Thain out in January of 2009.

Buying Merrill Lynch has saddled Bank of America with massive mortgage losses, as well as legal costs. BofA recently agreed to pay $2.43 billion to settle a class-action lawsuit alleging it misled investors about Merrill Lynch's finances.

In addition to Thain, Romney is also considering Richard Kovacevich, former CEO of Wells Fargo; Robert Zoellick, former president of the World Bank; and Glenn Hubbard, dean of Columbia Business School, as potential candidates for Treasury Secretary, according to the WSJ.

<snip>

http://www.huffingtonpost.com/2012/10/02/mitt-romney-merrill-lynch_n_1933015.html?utm_hp_ref=business

16 replies, 1986 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 16 replies Author Time Post
Reply Mitt Romney Considering Infamous Ex-Merrill Lynch CEO To Replace Geithner (Original post)
cali Oct 2012 OP
jsmirman Oct 2012 #1
orpupilofnature57 Oct 2012 #2
jsmirman Oct 2012 #3
orpupilofnature57 Oct 2012 #4
jsmirman Oct 2012 #13
orpupilofnature57 Oct 2012 #14
longship Oct 2012 #5
hughee99 Oct 2012 #6
jsr Oct 2012 #7
orpupilofnature57 Oct 2012 #9
Cali_Democrat Oct 2012 #8
hay rick Oct 2012 #10
orpupilofnature57 Oct 2012 #15
TBF Oct 2012 #11
MiniMe Oct 2012 #12
orpupilofnature57 Oct 2012 #16

Response to cali (Original post)

Tue Oct 2, 2012, 04:42 PM

1. John Thain? John Fucking Thain? Is he high?



Everyone on Wall Street thinks John Thain is a loser, a laughingstock, a failure.

That's on Wall Street.

John Thain? He can't be serious.

Dick Fuld must be on the same short list.

It must be the disgraced loser side of John Thain that Romney is attracted to.

John Thain couldn't get a job running a piggy bank.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cali (Original post)

Tue Oct 2, 2012, 04:43 PM

2. Slippery Slope there , Paulson, Bernanke

And Geithner ?

Reply to this post

Back to top Alert abuse Link here Permalink


Response to orpupilofnature57 (Reply #2)

Tue Oct 2, 2012, 04:50 PM

3. Wrong. John Thain is the Prince of Failure.

Forget any crookery, and general thoughts about Wall Street and what Wall Streeters get up to.

John Thain is a joke even on The Street.

It's the failure that is John Thain that makes this such a Romney classic.

You may dislike Paulson and Geitner, but they were good at being rapacious Wall Streeters. Forget him being a prince, John Thain is King Fail.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to jsmirman (Reply #3)

Tue Oct 2, 2012, 05:01 PM

4. Villain would be a better Title .

Reply to this post

Back to top Alert abuse Link here Permalink


Response to orpupilofnature57 (Reply #4)

Tue Oct 2, 2012, 06:13 PM

13. Don't care what he's worth. His name is mud. He's been disgraced.

I'm sure it's nice to have all those bucks, but while Thain may not be haunted by the damage that he caused, he is haunted by the fact that his big moment on the world stage ended in humiliation. There is really no recovering from that, ever. And men like Thain tend to care about their legacies. His legacy is failure, forevermore.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to jsmirman (Reply #13)

Tue Oct 2, 2012, 07:29 PM

14. He's the misanthrope that helped us out, no doubt

And he and the rest of the ' Royal Scam ' should be in prison . But the people that look up to those " Legacies " are a big part of the problem, I give two shits about money in general and the pigs that horde it, but it's his ilk that are our enemy and not to be revered when they're on top. Look at ALL the CEO's that put us here,the same glib sons of bitches we still trust and reward for throwing dice with our Future, and given the opportunity would again, and believe me I won't be enabling anyone but Barack Obama .

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cali (Original post)

Tue Oct 2, 2012, 05:03 PM

5. Why not Lehman's Dick Fuld? Or, AIG's Joseph Cassano?

The two of them crashed the world economy, the latter almost literally.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cali (Original post)

Tue Oct 2, 2012, 05:08 PM

6. Since he's scraping the bottom of the barrel anyway, I hear Jon Corzine is looking for work. n/t

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cali (Original post)

Tue Oct 2, 2012, 05:10 PM

7. Why is he not in jail?

Reply to this post

Back to top Alert abuse Link here Permalink


Response to jsr (Reply #7)

Tue Oct 2, 2012, 06:01 PM

9. Because he was revered and enabled by misanthropes

and Alan " I thought they'd police themselves " Greenspan .

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cali (Original post)

Tue Oct 2, 2012, 05:10 PM

8. Romney is a Trojan Horse for Wall Street

They're dying for him to be elected.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cali (Original post)

Tue Oct 2, 2012, 06:04 PM

10. Or maybe he will just keep Geithner. What more could they possibly want?

Reply to this post

Back to top Alert abuse Link here Permalink


Response to hay rick (Reply #10)

Wed Oct 3, 2012, 05:55 AM

15. He' definitely worked for someone, Who ?

He has more wrinkles than me one second and looks like a teenager the next, his glib, uzi responses that always seem to be getting him off a hook , rather than how he intended getting us online. Never trusted him or any of the racket scientists that helped get us here .

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cali (Original post)

Tue Oct 2, 2012, 06:07 PM

11. I swear Romney wants to lose - this is crazy. nt

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cali (Original post)

Tue Oct 2, 2012, 06:10 PM

12. Mitt, you have to win the election before you can appoint anybody

And then the Senate has to approve the appointment.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to MiniMe (Reply #12)

Wed Oct 3, 2012, 04:50 PM

16. Those are good thoughts

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread