27 January 2009

Shoes

"If you know how rich you are, you are not rich. But me, I am not aware of the extent of my wealth. That's how rich we are. I did not have three thousand pair of shoes. I had one thousand and sixty."

Imelda Marcos was Ferdinand Marcos' wife. He was America's go-to guy in the Phillipines during the Viet Nam War. He was America's guy for 31 one years. He turned the Philippine government, supported by U.S. funds, into his family's' personal piggy bank. Imelda liked shoes.

Sounds like financier John Thain likes office decorations. Well give Mr. Thain, the dumped Merrill Lynch exec, a little credit. He had sense to say he'd return the million two he spent on office redecoration while U.S. taxpayers were bailing Merrill Lynch out.

When asked by CNBC's Maria Bartiromo why he made the renovations, Mr. Thain said former Merrill Lynch CEO Stan O’Neal’s office,

"was very different than the general decor of Merrill’s offices. It really would have been very difficult for me to use it in the form that it was in ... It needed to be renovated no matter what."
Huh? Here's some pix of the items in Mr. Thain's redecorated office. You'll get a taste of what this ex-master of the universe thinks Merrill's general decor was. “I should have simply paid for it myself,” he added. Gee yuh think, John?

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