John Thain being punished for being successful?

2010-02-08 05:11:48

#1

Macbeth: Banned; +2,444|5872

The former chief of Merrill Lynch John A Thain, has been appointed as the chairman and CEO of US-based CIT Group, a leading American lender for small and middle market companies.

Thain stepped from Merrill Lynch as chairman and CEO, following its sale to Bank of America.

http://www.business-standard.com/india/ … p/85246/on
Now ^

Even as news broke that John A. Thain was on his way out at Bank of America, there were reports that Mr. Thain oversaw an expensive redecoration of his office on his way into Merrill Lynch.

In a report for the Daily Beast and CNBC, Charles Gasparino said Thursday that Mr. Thain spent more than $1.2 million of the firm’s money to freshen up his office suite shortly after joining Merrill in December 2007. He personally signed off on the purchase of items like an $87,000 area rug, a $68,000 credenza and a $1,400 “parchment waste can,” the report said, citing documents reviewed by the Daily Beast.

http://dealbook.blogs.nytimes.com/2009/ … 2-million/
Before^

New York's attorney general has subpoenaed former Merrill Lynch & Co Chief Executive John Thain to testify about bonuses paid to Merrill executives a few days before the brokerage's takeover by Bank of America Corp.

http://www.reuters.com/article/idUSTRE50Q4TR20090127
^ Later

The New York Attorney General's Office said Thursday it filed civil charges against Bank of America and its former chief executive, Ken Lewis, saying the bank misled investors about Merrill Lynch before it acquired the Wall Street bank in early 2009.

The bank, Lewis and Price are facing charges under New York's Martin Act, a wide-ranging securities law that is aimed at fighting fraud.

Cuomo's use of the Martin Act could be problematic for Lewis and Price. Unlike federal securities law, the Martin Act doesn't require proving any intent to defraud shareholders, said John C. Coffee, a Columbia Law School professor specializing in corporate governance and securities law.

http://www.tampabay.com/news/business/b … ca/1070915
^ At the same time

So does it seem to anyone else that John Thain is just being harrased to score political points?

2010-02-08 05:22:23

#2

Stubbee: Religions Hate Facts, Questions and Doubts; +223|7029|Reality

getting what he deserves
karma is a bitch

The US economy is a giant Ponzi scheme. And 'to big to fail' is code speak for 'niahnahniahniahnah 99 percenters'

2010-02-08 05:24:10

#3

Macbeth: Banned; +2,444|5872

Stubbee wrote:
getting what he deserves
karma is a bitch

What exactly did he do wrong?!!

2010-02-08 05:51:32

#4

Stubbee: Religions Hate Facts, Questions and Doubts; +223|7029|Reality

dude read what you posted
if you can't see it then I submit that you should seek employment in the banking industry

The US economy is a giant Ponzi scheme. And 'to big to fail' is code speak for 'niahnahniahniahnah 99 percenters'

2010-02-08 06:33:35

#5

Jay: Bork! Bork! Bork!; +2,006|5644|London, England

Stubbee wrote:
dude read what you posted
if you can't see it then I submit that you should seek employment in the banking industry

Andrew Cuomo has run for governor about 4 times now. He keeps losing in the primary. With Spitzer having been kicked out for his prostitution scandal and Paterson a lame duck abandoned by his own party, Cuomo feels that it's his time to finally win the governorship like his daddy so he's trying to score populist points and make an even bigger name for himself with the election coming up in November. He's just playing politics.

"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat

2010-02-10 20:23:23

#6

unnamednewbie13: Moderator; +2,056|7058|PNW

Stubbee wrote:
dude read what you posted
if you can't see it then I submit that you should seek employment in the banking industry

That's for lightweights. The truly corrupt belong in government.

2010-02-10 21:16:02

#7

HollisHurlbut: Member; +51|6284

According to Lewis, the feds strongarmed him into purchasing Merril Lynch.

2010-02-11 17:02:09

#8

Turquoise: O Canada; +1,596|6691|North Carolina

I approve of asshole on asshole violence.

2010-02-11 17:18:08

#9

Jay: Bork! Bork! Bork!; +2,006|5644|London, England

Turquoise wrote:
I approve of asshole on asshole violence.

Cuomo makes other politicians look like saints when it comes to his sleeziness.

"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat

2010-02-11 17:19:53

#10

eleven bravo: Member; +1,399|5545|foggy bottom

what do you sorry ass newyorkers think about Bloomberg?

Tu Stultus Es

2010-02-11 17:39:28

#11

Jay: Bork! Bork! Bork!; +2,006|5644|London, England

eleven bravo wrote:
what do you sorry ass newyorkers think about Bloomberg?

neurotic pacifist ultra liberal jewbag comes to mind.

"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat

2010-02-11 17:58:41

#12

Cybargs: Moderated; +2,285|7002

JohnG@lt wrote:
eleven bravo wrote:
what do you sorry ass newyorkers think about Bloomberg?
neurotic pacifist ultra liberal jewbag comes to mind.

That Jew knows how to make money.

https://cache.www.gametracker.com/server_info/203.46.105.23:21300/b_350_20_692108_381007_FFFFFF_000000.png

2010-02-11 18:32:38

#13

Cybargs: Moderated; +2,285|7002

androoz wrote:
Cybargs wrote:
JohnG@lt wrote:

neurotic pacifist ultra liberal jewbag comes to mind.
That Jew knows how to make money.
they all do

He went from having a 6 billion dollar deficit in NYC to a 3 Billion dollar surplus. Fuck yeah.

2010-02-11 18:38:56

#14

Jay: Bork! Bork! Bork!; +2,006|5644|London, England

Cybargs wrote:
androoz wrote:
Cybargs wrote:

That Jew knows how to make money.
they all do
He went from having a 6 billion dollar deficit in NYC to a 3 Billion dollar surplus. Fuck yeah.

He also banned handguns, took over the public schools and placed them under his own thumb, overruled a twice voted on limit on mayoral and city council term limits, he raised the tax on cigarettes by $2 a pack, he banned trans fats, he forced all fast food places to post calorie content of their food on signs and lots more. He's a fucking busybody who think he knows how everyone else should live their life.

"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat

2010-02-11 18:41:28

#15

Cybargs: Moderated; +2,285|7002

JohnG@lt wrote:
Cybargs wrote:
androoz wrote:

they all do
He went from having a 6 billion dollar deficit in NYC to a 3 Billion dollar surplus. Fuck yeah.
He also banned handguns, took over the public schools and placed them under his own thumb, overruled a twice voted on limit on mayoral and city council term limits, he raised the tax on cigarettes by $2 a pack, he banned trans fats, he forced all fast food places to post calorie content of their food on signs and lots more. He's a fucking busybody who think he knows how everyone else should live their life.

Banning transfat and making fast food restaurants accountable is a good thing =/ Every other food product have to post calorie amount and nutrients content.

Still, a good way to bring the city into a budget surplus. But how is the overall quality of public schooling in new york? has average GPA, SAT, grad rates and college acceptances went up?

2010-02-11 18:44:13

#16

Jay: Bork! Bork! Bork!; +2,006|5644|London, England

Cybargs wrote:
JohnG@lt wrote:
Cybargs wrote:
He went from having a 6 billion dollar deficit in NYC to a 3 Billion dollar surplus. Fuck yeah.
He also banned handguns, took over the public schools and placed them under his own thumb, overruled a twice voted on limit on mayoral and city council term limits, he raised the tax on cigarettes by $2 a pack, he banned trans fats, he forced all fast food places to post calorie content of their food on signs and lots more. He's a fucking busybody who think he knows how everyone else should live their life.
Banning transfat and making fast food restaurants accountable is a good thing =/ Every other food product have to post calorie amount and nutrients content.

Still, a good way to bring the city into a budget surplus. But how is the overall quality of public schooling in new york? has average GPA, SAT, grad rates and college acceptances went up?

No. When you walk into any other restaurant they aren't required to list the calorie content of the food they serve. It was a bullshit targeting of a single group.

He's monkeyed around with the numbers and changed the curriculum so that higher grades are reported. They've essentially cut grammar and other stuff out of the curriculum and forced teachers to teach for the state and federal exams. Graduation rates are up in some of the shittier schools yes. Unknown on college acceptances.

And I doubt that budget surplus survived last year. New York State is on the edge of bankruptcy.

Last edited by JohnG@lt (2010-02-11 18:45:35)

"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat

2010-02-11 18:47:27

#17

Cybargs: Moderated; +2,285|7002

JohnG@lt wrote:
Cybargs wrote:
JohnG@lt wrote:
He also banned handguns, took over the public schools and placed them under his own thumb, overruled a twice voted on limit on mayoral and city council term limits, he raised the tax on cigarettes by $2 a pack, he banned trans fats, he forced all fast food places to post calorie content of their food on signs and lots more. He's a fucking busybody who think he knows how everyone else should live their life.
Banning transfat and making fast food restaurants accountable is a good thing =/ Every other food product have to post calorie amount and nutrients content.

Still, a good way to bring the city into a budget surplus. But how is the overall quality of public schooling in new york? has average GPA, SAT, grad rates and college acceptances went up?
No. When you walk into any other restaurant they aren't required to list the calorie content of the food they serve. It was a bullshit targeting of a single group.

He's monkeyed around with the numbers and changed the curriculum so that higher grades are reported. They've essentially cut grammar and other stuff out of the curriculum and forced teachers to teach for the state and federal exams. Graduation rates are up in some of the shittier schools yes. Unknown on college acceptances.

He should've made all restaurants accountable then =/ It's a good idea, well fast food has been known to be one of the main causes of a lot of health problems.

Heh... Exam scores are fucking bullshit anyway. The traditional way of teaching grammar doesn't work (identifying object, subject etc), the only way to improve English skill is extensive reading and writing. Well you can kinda blame No Child Left Behind for a lot of state and federal examination scores. Higher grades being reported... Heh sounds like the shit that international schools do. Grades don't mean shit till Junior and Senior years. AP classes standardize grading scales.

Edit: The budget surplus was for NYC, will the state budget affect how the city runs?

Last edited by Cybargs (2010-02-11 18:48:38)

2010-02-11 18:51:35

#18

Jay: Bork! Bork! Bork!; +2,006|5644|London, England

Cybargs wrote:
JohnG@lt wrote:
Cybargs wrote:

Banning transfat and making fast food restaurants accountable is a good thing =/ Every other food product have to post calorie amount and nutrients content.

Still, a good way to bring the city into a budget surplus. But how is the overall quality of public schooling in new york? has average GPA, SAT, grad rates and college acceptances went up?
No. When you walk into any other restaurant they aren't required to list the calorie content of the food they serve. It was a bullshit targeting of a single group.

He's monkeyed around with the numbers and changed the curriculum so that higher grades are reported. They've essentially cut grammar and other stuff out of the curriculum and forced teachers to teach for the state and federal exams. Graduation rates are up in some of the shittier schools yes. Unknown on college acceptances.
He should've made all restaurants accountable then =/ It's a good idea, well fast food has been known to be one of the main causes of a lot of health problems.

Heh... Exam scores are fucking bullshit anyway. The traditional way of teaching grammar doesn't work (identifying object, subject etc), the only way to improve English skill is extensive reading and writing. Well you can kinda blame No Child Left Behind for a lot of state and federal examination scores. Higher grades being reported... Heh sounds like the shit that international schools do. Grades don't mean shit till Junior and Senior years. AP classes standardize grading scales.

Edit: The budget surplus was for NYC, will the state budget affect how the city runs?

Yes, it will. They pull from the same wealthy individuals for their budgets and those wealthy people no longer exist.

It's not his place as mayor to demand that the information be placed on the menu. It's up to the consumers to educate themselves.

"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat

2010-02-11 18:55:24

#19

Cybargs: Moderated; +2,285|7002

JohnG@lt wrote:
Yes, it will. They pull from the same wealthy individuals for their budgets and those wealthy people no longer exist.

It's not his place as mayor to demand that the information be placed on the menu. It's up to the consumers to educate themselves.

Werd. Survival of the fittest lel.

BF2S Forums John Thain being punished for being successful?

Stubbee wrote:

Stubbee wrote:

Stubbee wrote:

Turquoise wrote:

eleven bravo wrote:

JohnG@lt wrote:

eleven bravo wrote:

androoz wrote:

Cybargs wrote:

JohnG@lt wrote:

Cybargs wrote:

androoz wrote:

Cybargs wrote:

JohnG@lt wrote:

Cybargs wrote:

androoz wrote:

Cybargs wrote:

JohnG@lt wrote:

Cybargs wrote:

JohnG@lt wrote:

Cybargs wrote:

JohnG@lt wrote:

Cybargs wrote:

JohnG@lt wrote:

Cybargs wrote:

JohnG@lt wrote:

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