This is not going to work out well for John Thain. He's alienated Bank of America CEO (who is also facing his own challenges) and now he's not cooperating with Andrew Cuomo. Maybe Thain is too much in the Rick Santelli world of Wall Street big shots and doesn't grasp the seriousness or the hostility around the country to free rides in this environment. Talk about the American oligarchs may not be such so far off after all.
New York State Attorney General Andrew Cuomo filed a motion Monday asking former Merrill Lynch Chief Executive John Thain to provide more information about bonuses paid out on the eve of the bank's merger with Bank of America last year.
Cuomo's office alleges that Thain is not answering the questions under instructions from Bank of America , and as a result, the bank is interfering with its investigation of the bonus payments.
In a deposition last week, Thain refused to answer questions about how the bonuses were determined for certain individuals, citing instructions from Bank of America attorneys.
