John Thain, the man who took over the failing Merrill Lynch, decided that billions in BONUSES should be paid to Merrill's MOTU. He also decided that his office needed a $1.2 million re-decoration, including a $25,000 table. The NY Times asks "What is it with American bankers and their sense of entitlement?" and my reply is that it's not just the bankers, it's just about all of Wall Street.
Maybe their morals will improve if we hang a few of the MOTU, kind of like the fate of Admiral Byng?
Friday, January 23, 2009
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