How can guys like this sleep at night?

January 22nd, 2009 at 05:09pm Linda Grist Cunningham

When former President Richard Nixon said “I am not a crook,” we all laughed, well, at least sort of. But, I have to tell you that compared to some of the Wall Street financial executives, Tricky Dicky, as he used to be called, was an amateur.

Check out this story; unless you’re one of those “defend the corporate execs” types, this will just add fuel to your already flaming fires. John Thain, former Merrill Lynch CEO and, until today, the top of the ladder at Bank of America, figured he could push through bonuses under the radar in December, rather than the customary January.

This is what the Associated Press reported today: “Thain resigned from Bank of America Thursday following news that Merrill Lynch had rushed out its year-end bonuses, paying them just before Bank of America completed its acquisition of Merrill Lynch and sought $20 billion in additional (bailout funding).

OK, so Thain didn’t get his bonus; these were for those a couple rungs down the ladder, but what was he thinking? The short answer is: He wasn’t.

Guys like Thain long ago forgot how real people live. For them, it’s all about the money — theirs.

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