n off of the company's balance sheet, making Merrill one of the names, along with Lehman Brothers and Morgan Stanley, on the whisper list of Wall Street firms that could join Bear Stearns in an epic meltdown. Thain has the unenviable task of preventing that from happening and of preserving Merrill's Puma Velvet Trainers
If the credit crunch doesn't worsen, turning the firm's billions of dollars in derivatives exposure into a time bomb. If Thain can nurture Merrill's cash cows its brokers and investment bankers in a murderous economy. And last, and most delicate, if he can foster a climate of trust and Puma Rihanna Design
financial markets a steadiness to match his Buzz Lightyear looks.
independence amid a plunge in the company's stock price, a flurry of subprime related lawsuits, and any number of state and federal investigations. (View slideshow of some of John Thain's rivals and former colleagues. )As one of the earliest traders in mortgage backed securities with a rsum that includes engineering the rescue of the mega hedge fund Long Term Capital Management in 1998, the collapse of which seems eerily familiar today Thain is no stranger to either the intricacies of mortgage bonds or the delicate job of extricating firms from self created trading fiascoes. Dick Grasso in 2003. He brings to Puma Velvet Creepers Womens the investment bank and to America's rattled Puma Velvet Creepers Sale
respect in a company with more than its share of sensitive egos. It's Vikram Pandit's bank now. A few hours earlier, the firm had announced a record loss of $9.
This may be precisely what banks like Merrill Lynch need just now: the nonflashy executive who, like Goldman's Lloyd Blankfein, is successful precisely because he is so nondescript. But Merrill's troubles go far beyond its recent subprime problems, and the solutions are less obvious than those Thain applied at the exchange. The firm is fixable if. The ifs pile up on one another. If Thain can salvage Merrill's reputation amid the multiple investigations, including a criminal probe by the United States Attorney for the Southern District of New York.