Assessing the John Thain era at Merrill Lynch

The John Thain era at Merrill Lynch was short, but long on drama. It ended on a good note. From the moment he stepped in, he was faced with one crisis after another. They all built to the point that the storied brand was threatened. Dominoes were set to crash into it. Thain, unclouded by a long emotional tenure at the firm (perhaps unlike Lehman Brothers CEO Richard Fuld), was clear-eyed enough to see the end, though it just might have survived the Lehman crisis. Still, Thain played it safe and did what he had to. He sold out to Bank of America at a price that leaves little room for shareholders (Merrill's anyway) to quibble. The brand will survive. Bank of America will continue to use it. It's unclear what role Thain will play if any. My guess is that he will move on.  

For more:
- here's a New York Post article

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