Sheila Bair's Ridiculous Story About John Thain

Sheila Bair annihilates bailout-bonus poster boy and Romney favorite.

'John Thain's only concern was getting paid.'

Great interview all the way around, but skip to the 5-minute mark for the Thain vignette, and for the discussion that follows.  She destroys Geithner: "At the meetings he acted like he wanted to be one of the bankers."

'His first question was whether his compensation was going to be cut.'

The Thain story is so troubling because he did such harm and yet continued to feel so entitled, to express no sense of remorse, to not recognize that his stewardship had led to the troubles and that maybe there should be consequences.

And now Romney is considering him for Treasury Secretary.

'OCC is a terrible regulator.  It's like having a trade group in charge of the banks.'

---

Short clip of Spitzer discussing Thain the following night:

Here's what we've learned so far from Bair's book:

• Robert Rubin was secretly in charge of TARP.
• Citigroup and Merrill were both insolvent.
• Bair wanted Volcker for Treasury Secretary.
• Geithner really loves Citigroup.
• Blankfein wasn't playing team ball until Bair called Buffet to complain.

Comments

[DailyBail]

The Grimmest Story You’ll Hear Today About Wall Street Pay

http://www.slate.com/blogs/spitzer/2012/09/27/wall_street_compensation_and_john_thain_the_grimmest_story_you_ll_hear_today_about_wall_street_pay_.html

Spitzer's full piece.

[DailyBail]

So now it's John Thain if Romney wins, or Erskine Bowles if Obama wins. At least those are the most likely names according to sources. I'm not voting for either Prez candidate, but I would take Bowles over Thain in a heartbeat.

[Josie]

Sheila is great at telling us what we already know...that the greedy banksters were, are and will always about themselves and that Tim-may is a clerk/wanna-be. Hey, Sheila! Give us some juicy info from the big table, not side table meaningless rumor chit-chat...

...and I've always felt Thain looks like a Bond film villian. Strange, long, plastic, putty-colored face with no facial hair or visual stubble, and wig-like hair and no eyebrows. Would you buy anything from this guy?

[SKINFLINT]

Mr. Thain is a bit of a fop. He looks an awful like Barbies boyfriend Ken and I am sure that he had many of the same physical parts as Ken. He still has a shit load more money than me.

[indious]

Thain is a, can you say, DIRT BAG.
Look what hrdid to Merril.

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