We've noted that John Thain's reputation has done an about face: From the "right man at the right time" at Merrill Lynch to the man who had to leave Bank of America under a cloud. With the Bank of America-Merrill Lynch deal falling apart, Thain has also been embarrassed by news that he spent $1.22 million to redesign his office, "arranged $25 million goodbye packages for his own hires, and handed out a billion in last-minute bonuses to his staff," according to a Wall Street Journal blog post.

All that just before the bank was forced back to the government, hat in hand. Thain thus joins a long list of rogues on Wall Street: Stanley O'Neal, Jimmy Cayne, Dick Fuld and others.  

- Here's the WSJ blog item

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