John Thain Out at Merrill Lynch

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Doesn't this look like fun? Photo: Getty Images

In the face of massive, Merrill Lynch–related losses at Bank of America and on the back of Charlie Gasparino's report that he spent over a million dollars redecorating his office this year, Merrill CEO John Thain has officially resigned from BofA. Will he get to keep the $87,000 rug? [Clusterstock, WSJ]