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You Think Geithner is Bad?
Posted: Wed Oct 03, 2012 7:39 am
by kalm
You would think Mitt would want to shy away from the 1% stigma.
Mitt Romney Considering Infamous Ex-Merrill Lynch CEO To Replace Geithner
Mitt Romney is considering appointing a man who oversaw the implosion of a major Wall Street firm and got himself a $35,000 toilet while doing it as Treasury Secretary.
John Thain, the former CEO of Merrill Lynch, is on Romney's short list of possible Treasury Secretary picks, the Wall Street Journal reports. He paid his executives massive bonuses before selling Merrill Lynch to Bank of America during the height of the financial crisis with the help of government bailout money. He tried to snag a $10 million bonus for himself as the firm was collapsing, and he even spent $1.2 million on remodeling his office -- including on a $35,000 toilet -- as Merrill Lynch was imploding. Bank of America CEO Ken Lewis pushed Thain out in January of 2009.
http://www.huffingtonpost.com/2012/10/0 ... f=business" onclick="window.open(this.href);return false;
Re: You Think Geithner is Bad?
Posted: Wed Oct 03, 2012 7:45 am
by ASUG8
Re: You Think Geithner is Bad?
Posted: Wed Oct 03, 2012 7:50 am
by Ivytalk
Thain rhymes with Bain!
Re: You Think Geithner is Bad?
Posted: Wed Oct 03, 2012 8:07 am
by Grizalltheway
Ho hum, the revolving door continues to spin at a dizzying pace.
Re: You Think Geithner is Bad?
Posted: Wed Oct 03, 2012 9:35 am
by 89Hen
This is strange. Hopefully he remembers that we all decided the job should go to Kalm.
Re: You Think Geithner is Bad?
Posted: Wed Oct 03, 2012 10:39 am
by kalm
89Hen wrote:This is strange. Hopefully he remembers that we all decided the job should go to Kalm.
Nah...I'm not a numbers guy. We already established it would be you and Z running banking.
Re: You Think Geithner is Bad?
Posted: Wed Oct 03, 2012 3:51 pm
by CitadelGrad
Romney would do better appointing Ken Lewis. I worked for Ken for a year on a banking industry merger. He's a very smart, no bullshit kind of guy.
Re: You Think Geithner is Bad?
Posted: Wed Oct 03, 2012 3:59 pm
by kalm
CitadelGrad wrote:Romney would do better appointing Ken Lewis. I worked for Ken for a year on a banking industry merger. He's a very smart, no bullshit kind of guy.
What separates him from the rest of Wall Street?
Re: You Think Geithner is Bad?
Posted: Wed Oct 03, 2012 4:09 pm
by CitadelGrad
kalm wrote:CitadelGrad wrote:Romney would do better appointing Ken Lewis. I worked for Ken for a year on a banking industry merger. He's a very smart, no bullshit kind of guy.
What separates him from the rest of Wall Street?
He isn't Wall Street.
Re: You Think Geithner is Bad?
Posted: Wed Oct 03, 2012 4:12 pm
by kalm
CitadelGrad wrote:kalm wrote:
What separates him from the rest of Wall Street?
He isn't Wall Street.
I'm sorry, what seperates him from the rest of TBTF monopolists?
Re: You Think Geithner is Bad?
Posted: Wed Oct 03, 2012 5:06 pm
by CitadelGrad
kalm wrote:CitadelGrad wrote:
He isn't Wall Street.
I'm sorry, what seperates him from the rest of TBTF monopolists?
I'm not sure why you would call him a monopolist. BofA wasn't a TBTF bank. It was a stable and healthy bank until it was forced to support the TBTF policies. BofA acquired M-L and accepted bailout money under duress. If you remember correctly, you will remember that it was BofA and Wells Fargo who were drawn into this mess by the Treasury Dept. and they were draw in entirely against their will.
Re: You Think Geithner is Bad?
Posted: Wed Oct 03, 2012 5:16 pm
by Ivytalk
kalm wrote:89Hen wrote:This is strange. Hopefully he remembers that we all decided the job should go to Kalm.
Nah...I'm not a numbers guy. We already established it would be you and Z running banking.
And you make sure Stricker sinks his fucking putts.
Re: You Think Geithner is Bad?
Posted: Wed Oct 03, 2012 5:20 pm
by kalm
CitadelGrad wrote:kalm wrote:
I'm sorry, what seperates him from the rest of TBTF monopolists?
I'm not sure why you would call him a monopolist. BofA wasn't a TBTF bank. It was a stable and healthy bank until it was forced to support the TBTF policies. BofA acquired M-L and accepted bailout money under duress. If you remember correctly, you will remember that it was BofA and Wells Fargo who were drawn into this mess by the Treasury Dept. and they were draw in entirely against their will.
Oh you with all the meddlesome details and better memory than I. Don't you understand it's much easier to stay on the side lines and take pot shots?
Geesh!
I don't blame BofA for crushing the competition but the cynic in me somehow finds it incredible that they were dragged kicking and screaming into anything. It's hard to believe they really serve at the mercy of the big bad government. They certainly have spent enough in campaign contributions and have enough of a revolving door with government agencies to think otherwise.
But again, I'm just a big picture, over simplify kinda guy.
Re: You Think Geithner is Bad?
Posted: Thu Oct 04, 2012 9:04 pm
by CID1990
CitadelGrad wrote:kalm wrote:
I'm sorry, what seperates him from the rest of TBTF monopolists?
I'm not sure why you would call him a monopolist. BofA wasn't a TBTF bank. It was a stable and healthy bank until it was forced to support the TBTF policies. BofA acquired M-L and accepted bailout money under duress. If you remember correctly, you will remember that it was BofA and Wells Fargo who were drawn into this mess by the Treasury Dept. and they were draw in entirely against their will.
Details are to hyperbole as paper is to rock.
