Breakingviews says this about John Thain's move to CIT: The former Merrill Lynch CEO, whose personal brand was tarnished by the whole Bank of America (BAC) deal fiasco, "has checked into rehab--career rehab that is." That's an interesting way of putting it. Whether the arrangement proves to be therapeutic remains to be seen. But there are reasons to think that he will work out fine as CEO.

Breakingviews suggests that CIT needs a financial technocrat, not a traditional banker type. It also suggests that Thain's expertise and grounding in traditional Wall Street firms may aid CIT's funding issues. I would add that providing financing to small businesses is seen as a lofty calling right now. I once suggested that Goldman Sachs (GS) rescue the firm for PR reasons. If Thain can get the firm working again, he could make a much stronger case than Goldman Sachs CEO Lloyd Blankfein that he is doing "God's work." His rehabilitation will be complete at that point. 

For more:
- here's the article

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