John Thain's New Office - Our New Orifice

2008: while Merrill Lynch reports $15+ Billion in losses, Merrill Lynch CEO John Thain redecorates his office for the low-low price of $1.2 Million "tax-payer" economic-bailout dollars. John Thain's 2008 Salary compensation was $83.1 million.

On January 16 2009, Bank of America (BofA) announced that Merrill suffered an unexpected loss of $15 billion for the fourth quarter of 2008, nearly collapsing BofA's purchase. Bank of America CEO Ken Lewis said that without $138 billion in government assistance, including the infusion of $20 billion from the federal government he would have pulled out of the Merrill deal, which was approved by BofA shareholders in early December.

The following is a list of items in (our) new office:

• Area Rug $87,784
• Mahogany Pedestal Table $25,713
• 19th Century Credenza $68,179
• Pendant Light Furniture $19,751
• 4 Pairs of Curtains $28,091
• Pair of Guest Chairs $87,784
• George IV Chair $18,468
• 6 Wall Sconces $2,741
• Parchment Waste Can $1,405
• Roman Shade Fabric $10,967
• Roman Shades $7,315
• Coffee Table $5,852
• Commode on Legs $35,115