Today's Worst Person in the World

Discussion in 'Politics, Religion, Social Issues' started by rdowns, Dec 8, 2008.

  1. rdowns macrumors Penryn

    rdowns

    Joined:
    Jul 11, 2003
    #1
    With apologies to Keith Olbermann...

    This just pissed me off. This guy's got a brass set. You practically run one of the most prestigious financial companies in the world into the ground and the government has to step in and finance a merger with Bank of America. FU John Thain.

    Merrill Lynch CEO seeking 2008 bonus of $10 million


     
  2. leekohler macrumors G5

    leekohler

    Joined:
    Dec 22, 2004
    Location:
    Chicago, Illinois
    #2
    No f***ing way! That guy should be hanged just for suggesting it! He needs to be fired immediately.
     
  3. dmr727 macrumors G3

    dmr727

    Joined:
    Dec 29, 2007
    Location:
    Southern California
  4. bradl macrumors 68040

    bradl

    Joined:
    Jun 16, 2008
    #4
    Dickipedia entry, anyone? ;)


    Seriously, this sounds like Enron and MCI all over again. Funnily, all three on Bush's watch.

    BL.
     
  5. hayduke macrumors 65816

    hayduke

    Joined:
    Mar 8, 2005
    Location:
    is a state of mind.
    #5
    He'll get it, or something near that amount. There are probably pre-meltdown contracts in place. He doesn't deserve it, but there is very little accountability in the current system.
     
  6. ucfgrad93 macrumors P6

    ucfgrad93

    Joined:
    Aug 17, 2007
    Location:
    Colorado
    #6
    None of the executives of any company receiving bailout money should get a bonus.:mad:
     
  7. QuantumLo0p macrumors 6502a

    QuantumLo0p

    Joined:
    Apr 28, 2006
    Location:
    U.S.A.
    #7
    There is usually a board and majority holders involved.
     
  8. bradl macrumors 68040

    bradl

    Joined:
    Jun 16, 2008
    #8
    Wait a second..

    Wouldn't the bailout, and in Paulson's exact words, make the American People a shareholder in the company? It is our money that is bailing out the market.

    BL.
     
  9. iJohnHenry macrumors P6

    iJohnHenry

    Joined:
    Mar 22, 2008
    Location:
    On tenterhooks
    #9
    I think you will find that is the majority shareholders that are showing their appreciation for a "job well done", when a CEO does something that benefits their collective bottom line.

    It just leaves the rest of us scratching our heads this time, because it involves a bail-out.

    The majority shareholders still benefit, greatly. It's all about greed.
     
  10. Gray-Wolf macrumors 68030

    Gray-Wolf

    Joined:
    Apr 19, 2008
    Location:
    Pandora, Home Tree
    #10
    Don't fire him, demote him to teller :D
     
  11. william sire macrumors regular

    william sire

    #11
    Now I have to ask... Why isn't this thread in the political forum? Nonetheless listening to all this not so playful financial badinage in the news of late. It really sounds like neither the CEO's of the major corporations nor the leadership in government can add or subtract.
     
  12. ErikCLDR macrumors 68000

    Joined:
    Jan 14, 2007
    #12
    My neighbor is getting talks from the state attorney general because his company is in charge of the New England Power Grid and he personally makes $875,000 a year with another $350,000 in other compensation. I must say though, he's pretty frugal considering his financial situation. He makes his kids share a car and his house is worth $700,000-$800,000 (above average but I am sure he could afford more with that wage). They're nice people. All I can say is this is corporate America.
     
  13. synth3tik macrumors 68040

    synth3tik

    Joined:
    Oct 11, 2006
    Location:
    Minneapolis, MN
    #13
    I have been opposed to to all these bail outs, because everyone of these slimy bastards walks with million, it is total BS. You have a company that failed, well tough s***. Fix your own damn mess.

    Bunch of filthy bastards.
     
  14. Schtumple macrumors 601

    Schtumple

    Joined:
    Jun 13, 2007
    Location:
    benkadams.com
    #14
    This is insane, I can't belive someone would have the guts to turn around and say "Hey guys, I know I f*cked everything up, but you know, everybody deserves a bonus", I hope he's fired immediately.
     
  15. Vivid.Inferno macrumors 6502

    Vivid.Inferno

    Joined:
    Jul 28, 2008
    Location:
    Ottawa, ON
    #15
    Don't hold back now. Tell us how you really feel :p

    I don't really agree with the bail outs either. It's a double edged sword.
     
  16. rdowns thread starter macrumors Penryn

    rdowns

    Joined:
    Jul 11, 2003
    #16
    Statement from Senate Majority Leader Harry Reid



    In related news...


    Morgan Stanley CEO John J. Mack is giving up a bonus for the second straight year amid a climate of bank failures, thousands of layoffs and an economic recession.

    Mack said in a memo Monday to employees obtained by The Associated Press that he and the firm's two presidents, James Gorman and Walid Chammah, informed their board's compensation committee of their decision to forgo 2008 bonuses, and the committee accepted.
     
  17. abijnk macrumors 68040

    abijnk

    Joined:
    Oct 15, 2007
    Location:
    Los Angeles, CA
    #17
    See boys, was that so hard??? :mad:

    P.S. Bartlby, open the damn gift.
     
  18. AP_piano295 macrumors 65816

    Joined:
    Mar 9, 2005
    #18
    The only CEO I can think of who really seems to be pulling the weight that his salary and bonuses warrant these days is Jobs...
     
  19. pseudobrit macrumors 68040

    pseudobrit

    Joined:
    Jul 23, 2002
    Location:
    Jobs' Spare Liver Jar
    #19
    Paulson gave money to financial institutions with no strings attached and they've used it to pay shareholder dividends and executive bonuses as well as fund acquisitions. IOW, Treasury has wasted $300B of your future monies.
     
  20. gotzero macrumors 68040

    Joined:
    Jan 6, 2007
    Location:
    Mid-Atlantic, US
    #20
    Keep in mind Thain came in after everything was all ready messed up. That said, knowing that, he should have structured any package so he would not have to do something as boneheaded as this.

    My guess is his compensation will be delayed. Keep in mind he should not be in one of the positions at BofA that the TARP statutes limit.

    I do think it is funny that there is still a Merrill compensation committee at all...
     
  21. Counterfit macrumors G3

    Counterfit

    Joined:
    Aug 20, 2003
    Location:
    sitting on your shoulder
    #21
    I think he was misquoted, and wants to give a $10m bonus to, uh... someone.
     
  22. Dont Hurt Me macrumors 603

    Dont Hurt Me

    Joined:
    Dec 21, 2002
    Location:
    Yahooville S.C.
    #22
    Thats the ticket, these guys were robbing the U.S. and no one is holding them accountable. He should be demoted to Teller and get a spanking and should have to pay some of his own milions back to the govt.
     
  23. QuantumLo0p macrumors 6502a

    QuantumLo0p

    Joined:
    Apr 28, 2006
    Location:
    U.S.A.
    #23
    Depend if the bailout money is simply a loan or loan with an ownership stake.
     

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