Monday, February 8, 2010

PLANES, THAINS AND AUTOMOBILES

BANZAI7 NEWS--Former Merrill Lynch CEO Johnny Thain has been tapped to lead struggling lender CIT Group. the small business lender that emerged from bankruptcy in December, announced Sunday that it had chosen Thain to be its chairman and CEO.

Thain held the top post at Merrill before it was sold to Bank of America  in September 2008 during the height of the financial crisis, a deal that Thain helped broker.

He Bank America amid outrage over the deal and bonus controversy as well as reports of lavish spending, including reports that he had spent $1.22 million in early 2008 to redecorate his toilet at Merrill.



YOU'RE JOHN THAIN
(You're so Vain, Carley Simon)
WilliamBanzai7

You waltzed into the Bail Out party
Like you were sailing on an unsinkable yacht
Your hat strategically dipped below one eye
Your scarf it was really hiding a mega Merrill subprime surprise
You had one eye on the Level III mirror
As you watched yourself gavotte
And all those second rate Charlotte Bankers dreamed that they'd be your partner
They'd be your partner, and

You're John Thain
And yes this song is about you
Don't complain
I'll bet you think B of A can't live without you
Without you? Without you?

You had Ken Lewis several months ago
When he was so naive its hard to believe
Well, you said that the Thundering Herd would make an awesome notch on his sleeve
And that you John Thain would never leave
But you gave away the things you loved
And one of them was a 10 Million Dollar bonus snub
And good ol Ken's grandiose dreams turned out to be clouds in his bailout coffee
Clouds in his bailout coffee, and

You're John Thain
And yes this song is about you
You're John Thain
I'll bet you think B of A can't live without you
Don't you? Don't you?

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