Considering his one year tenure during one of the worst periods in corporate history, what has he done to deserve any bonus? When Merrill had the option of sell to BofA or go the way of Lehman, they sold. Losing over $50 billion tends to reduce your choices in the business world but don't tell that to the 2007 "best paid CEO" in America, because nothing is ever enough. And try your best to ignore all of the frantic funding of Wall Street which probably kept them all afloat for many more months than they would have survived in past times. The word at the time was that John Thain and his three friends who he brought in with him last December would share a $200 million pool of money for the sale, yet that's not enough.
The US treats petty criminals much worse than people who lose billions and who stand at the center of cutting 10,000 (probably much more) jobs. Thain is a horses ass but Congress isn't much better if they let low lifes like Thain to entertain such talk and possibly even get his $10 million.
Merrill Lynch Chief Executive John Thain has suggested to directors that he get a 2008 bonus of as much as $10 million, but the battered company's compensation committee is resisting his request, the Wall Street Journal said, citing people familiar with the situation.
The compensation committee has not reached a decision, but is leaning toward denying Thain and other senior executives bonuses for this year, the people told the paper.
