Merrill Lynch execs get $200 million golden parachute?!?

Let me get this straight. John Thain and two other execs who came to Merrill Lynch less than a year ago are going to share a $200 million payout for running the company into the ground and getting bought out by BofA?

So much for “fiscal responsibility”. It’s absolutely absurd. There’s not even a word that adequately describes how FUCKING STUPID that whole deal is. Thain was hired to steer the bank out of trouble. Looks like he FAILED and should be fired, not rewarded!!

Oh, and John Thain is also a leading fundraiser for John McCain. Perhaps Thain can be on this “committee” that McCain wants to put together to find out “what went wrong”. What a joke.

More info here.