Check out how many companies John Thain ( of the $18,000 crapper fame) ruined.

[dixiegrrrrl]

Quick re-fresher:
John Thain was head of Merrill Lynch, sold that to BOA, was not honest with BOA about the amount of debt Merrill Lynch had included in the sale, but managed to build a gazillion dollar office at BOA before he was fired 3 months later.

Up to the moment of his forced resignation, Thain was a darling on Wall Street.

Briefly:
President and co-chief operating officer of Goldman Sachs from 1999 to 2004,
then on to NYSE to replace the previous CEO, Dick Grasso, who was fired after it was revealed that he had essentially rewarded himself $140 million in deferred compensation.
Since Thain's departure early in 2007, NYSE stock has plummeted 72 percent.

Thain then moved to Merrill to replace the guy who got blamed for Merrill's sub-prime mess.
Thain was then the second highest-paid executive in 2007, according to the Associated Press, amounting to more than $83 million.

He ran Merrill into the ground, racked up debt, BOA used government money to buy Merrill, and bought more Merrill debt than it realized.

Bank of America stock has lost 83 percent of its value since the Merrill acquisition was announced on September 21, ( 2008 ) and analysts believe that the banking giant is, for all intents and purposes, insolvent, and may not survive without massive additional
government bailouts.

I hope the Carlyle Group hires him.

[LiberalFighter]

1. IMO he needs to be castrated and executed.

Along with those that he gave bonuses from the TARP.

[Donnachaidh]

2. ho does give off a radioactive glow of failure, doesn't he?

So why do these companies continue to hire him?

[dixiegrrrrl]

4. Because he makes money for the people who hire him.

this is an era when companies run on the Enron model.
The companies exist as executives' personal piggy banks, then when the banks are empty, they wander off with their stashed away billions and let the company crash and burn.

Business is now about making personal profit, not serving customers or staff.

[bunnies]

3. lol. A commode is a chest of drawers in this case.

Not a toilet. :hurts: :rofl:

[dixiegrrrrl]

5. As Forrest would say: "shit is as shit does"

[indepat]

6. The kiss of death?

:P

[munyabuhoro]

7. may be true

this may be true

[Joanne98]

8. Oh God Pleeezzzze let the Carlyle group hire him. LOL