Merrill's CEO John Thain Has No Shame.

We've highlighted Merrill's CEO John Thain on here a few times. Mostly that he didn't have the experience to turn around Merrill and that his $80 million compensation package, or whatever it was, was ridiculous. Thain's time at Merrill has been suspect at best. He told investors quite a few times that they were done taking write downs and they weren't.

Today Reuters reports Thain is recommending that he only receive a $10 million bonus this year. A bonus that is paid directly by American taxpayers because Merrill would be gone without our support.

Two or three hundred years ago, investors might have demanded Thain's life. Or he may have been challenged to a dual. Ha! I think Mr. Thain ought to consider what the CEO's of the auto companies have agreed to - $1 compensation packages if they take taxpayer money. What in God's name is our government doing? How can this be happening? (Well, I have a post on this I'll get up after the new year. You won't like it.)

I have already written my Congressional representatives again and I would encourage everyone to do whatever they can, obviously within the limits of the law, to force change where ever and when ever they can.