On a day President Obama called Wall Street bonuses “shameful”… it’s worth noting that the weasels who used to run Merrill Lynch and Lehman Brothers were back in the news this week.
Dick Fuld, who captained the good ship Lehman straight to hell, deeded his $13.7 million Florida mansion to his wife. For $100. Can’t imagine why. (“Did you hear a car drive up? Quick, shut off the lights and get under the bed!”)
And John Thain, booted from Bank of America last week, decided to defend his honor to CNBC’s Maria Bartiromo. Not that there’s anything honorable about spending $1.2 million to redecorate your office.
Bartiromo: “What was wrong with the office? Why did you need to renovate Stan O’Neal’s office?”
Thain: “Well, uhh, umm. His office was very different than the general decor of Merrill’s offices. It really would have been very difficult for me to use it in the form it was in.”