Merrill Lynch's Chief Exec Is On Crack

Is Merrill Lynch’s John Thain smoking crack?

Or is he just stoopid?

The chief executive requested a 2008 bonus to the tune of 10 million buckaroos.

The Merrill Lynch & Co. compensation committee hasn’t decided yet, but is pretty much leaning toward “Aw hellz to the no mothereffer!”

Thain is saying he deserves the cash for helping Merrill Lynch narrowly avoid financial disaster through a merge with Bank of America Corp.

But, members of the compensation committee are saying, “Duh! That’s exactly why you shouldn’t get it! There’s no money! And it makes the public unhappy!”

Just look at Goldman Sachs Group Inc. – they outperformed Lynch, and their CEOs are turning down their fat RecessMas bonuses!

Merry RecessMas!

[Image via AP Images.]