John Thain, the Merrill Lynch CEO who took a turn as the Face of Wall Street Avarice last fall after it was revealed that he purchased a $3,500 commode for his office while his firm was going down a metaphorical one, has reemerged from hiding to share his thoughts with Bloomberg on anti-bank sentiment during bonus season and the Financial Crisis Inquiry Commission hearings, which begin this week.
"If there really is an attempt here to learn, to find out what we can do different to change some of the causes of this financial crisis, I think it’ll be constructive. If on the other hand it is in fact just an opportunity to pummel the CEOs, then I don’t think it’s a very good use of people’s time."
He's got a point. It wouldn't be a very good use of people's time, or the commission's $8 million budget. But it would be a pretty good use.
Thain Weighs In on Financial Reform [DealBook/NYT]