Matt Taibbi on CIT Group Inc. hiring of dufus John Thain:
Man, exactly what do you have to do to become unhirable in this country? Eat Christian babies on CNN?
John Thain is the dope who was buying himself an $87,000 area rug as
his company was going bust. He became a symbol for brainless greed on
Wall Street just in time to complete a tortured sale of Merrill to Bank
of America in which billions in losses were somehow kept hidden from
Now he gets another big job, just like every other high-end Wall Street buffoon who wrecks a company in this era.
It’s amazing how socialistic/parasitic the financial sector is: Failure is not only encouraged but rewarded, and the tax payer ends up footing the bill. Single mothers taking home $200 a week are routinely vilified by the Right, yet none of the Republicans will stand up to the financial sector that takes trillions of dollars from the government and doles it out to losers.
Ben Cohen is the editor and founder of The Daily Banter. He lives in Washington DC where he does podcasts, teaches Martial Arts, and tries to be a good father. He would be extremely disturbed if you took him too seriously.