What a difference a meltdown makes.
Just months ago, John Thain was CEO of Merrill Lynch, a top backer of presidential candidate John McCain, and widely talked of as in line for a top White House economic position should his man win on Election Day.
Instead, Thain has been fired in disgrace after Merrill was taken over by Bank of America and tarred for spending 1.2 million dollars on a Merrill office renovation including spending $35,000 on a toilet and $87,000 for a rug in those new digs. All while while the government was bailing Merrill Lynch out. Thain, in yet another arrogant snub to the American Taxpayer, then demanded a $30 million bonus after losing $5 billion in just three months at the bank’s Merrill Lynch unit.
And McCain is again a Senator from the state of Arizona, uninterested in talking about his old friend.
“I haven’t had a chance to look into it. I really haven’t. I haven’t had a chance to absorb it,” McCain said when asked by the Huffington Post about Thain’s plight.