Merrill Lynch chief fighting for bigger 2008 bonus

[katty]

more: http://www.huffingtonpost.com/2008/12/08/merrill-lynch-chief-fight_n_149276.html

Update 3 pm

Senate Majority Leader Harry Reid has released a statement regarding Thain's "chutzbah" in asking for the money.

via The Hill

"The TARP program, from which Merrill Lynch has taken billions of taxpayer dollars, was designed explicitly to limit executive compensation, bonuses and golden parachutes. While American families struggle to keep their jobs and their homes, I question the chutzpah of asking for a $10 million taxpayer-subsidized bonus. Americans deciding which bills to pay this month just to make ends meet do not want their hard-earned money even indirectly spent rewarding executives from banks that are largely responsible for the economic crisis. I sincerely hope that Merrill Lynch rejects this request."

[Idealism]

1. Reid sounds pretty ferklempt

[katty]

2. corporate welfare not enough for them-CEO's want MORE handouts

[sarcasmo]

3. Greedy Pig.

[Moosepoop]

4. Gotta love Thain's rationale for deserving a $10 Million bonus...

"Though Thain's company was sold to Bank of America after losing a net $11.67 billion this year, Thain argued that it could have been worse." :wtf: