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Thursday, January 22, 2009

Merrill CEO Thain Resigns from BofA

by Calculated Risk on 1/22/2009 12:16:00 PM

From CNBC: Former Merrill CEO Thain Leaving Bank of America

Former Merrill Lynch CEO John Thain agreed to resign from Bank of America ... less than a week after Bank of America was forced to seek $20 billion in government bailout money to absorb Merrill.
Merrill, meanwhile, decided to move up its year-end bonuses, doling out cash just days before it was officially acquired by Bank of America, it was reported earlier Thursday.
Take the money and run ...