Merrill Lynch‘s chief executive officer is seeking a $10 million bonus, the Wall Street Journal is reporting.
The financial management nearly went under this year, and John Thain says he deserves the bonus for keeping Merrill Lynch afloat. Goldman Sachs, which fared better than Merrill Lynch this year, has decided not to give its top executives bonuses.
Yeah, you kept Merrill Lynch from sinking, Thain, but it would have been better if the company didn’t need rescuing in the first place.
This is one of those “it never hurts to ask” moments. Thain probably thought, “What’s the worst that could happen? They could say ‘no?’ ” Well, that and you look like a greedy boob.