Posted on 01/22/2009 5:15:16 PM PST by tarpit
Guess it's not the fact John Thain reportedly spent more than a million bucks decorating his office.
What's galling is we essentially paid for it.
Welcome, everybody, I’m Neil Cavuto, and here's the deal.
John Thain is out of a job.
But what a job.
And what an office.
And what a deal.
He leaves with millions in bonuses he snuck in before his merger with Bank of America (BAC: 6.28, -0.32, -4.85%).
Just the tip of a staggering financial iceberg that was the Merrill Lynch titanic sold to Bank of America.
We're told John Thain's meeting with B-of-A's Ken Lewis was brief.
I can well imagine.
Clearly, Ken thinks he was duped on the deal.
Imagine lowly taxpayers who paid for the deal.
Because I want you to consider something.
Bank of America got nearly 50 billion bucks from taxpayers.
Who knew it would go to close a deal that in retrospect hardly seemed a deal?
Except, of course, for those Merrill execs who made sure to protect themselves.
And an outgoing Thain, who made sure to spruce up his office.
Now he's out of that office.
But worse, we're out of that cash.
Which explains why so many are running out of confidence.
In a system that seems broke.
And the greedy bastards who run it who seem not to care a bit.
And these are the folks we rescue?
Please clue me in on the standards we set for the folks...We don't.
I saw Cavuto on Fox today interviewing some lib fimancial “expert”. He was talking of a 2% tax increae on wealthy which would raise 300 billion. But Neil pointed out to the guy we have to cover 3 trillion. Neil was hopping angry that he couldn’t answer where the rest would come from, at one point using the word bastard.
One hundred and seventy million dollars for an inauguration orgy.
To say nothing of the millions of hours of lost productivity.
That was 170 million coughed up by rich contributors. It wasn't taxpayer money. What the taxpayers footed was the price for all of the security. I didn't mind paying for security for the inauguration ceremony, but the train trip and all of the concerts and balls were over the top.
We'll never know how much it cost. But that 170 mil wasn't part of what we paid.
Well that just shows Cavuto is anti-business!!!
LOL
That is what I get told when I say stuff like this!!!
It’s the excess when we keep hearing how WE all have to have shared sacrifice.
The do as I say not as I do attitude has me spitting mad.
Let me guess - you’re also one who is annoyed (so to speak) that the press was outraged that Bush spent 40 million on his inauguration party, but think it’s just fine that Obama spent 170 million.
Even with the cost of inflation, there’s a real difference there.
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