Bank Of America (BAC) Fires Ex-Merrill CEO John Thain

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Maybe it was the $21 billion of losses Merrill Lynch had in Q4. Or, perhaps it was the bonuses Merrill gave out before the Bank of America (BAC) takeover was final, but John Thain, former Merrill CEO is out.

According to The Wall Street Journal, Thain has "resigned" from his new job as president of global banking, securities and wealth management at Bank of America.

Douglas A. McIntyre