John Thain: Does the Carpet Match the Balance Sheet?
What a difference 4 months make. In September Dick Fuld CEO of Lehman Brothers and John Thain CEO of Merrill Lynch were up to their loosened ties in takeout Chinese as they worked feverishly to secure their faltering institutions through a sale to Bank of America (BAC). Thain beat the clock. Fuld got his cleaned. The Clark Kent-looking Thain was hailed as a genius a savior easily living up to the nickname he earned during his time at the New York Stock Exchange: "Mr. Fixit." Now shortly after Merrill announced a staggering loss of $15.4 billion Thain has been ...
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