CNN iReport

Who is John Thain: an egregious, avaricious, self absorbed, effete idiot with an insatiable desire for money.

Not soon after Bank of America turned down a line of credit for Republic Windows & Doors Company in Chicago forcing it to suddenly shut it doors causing hundreds to loose their jobs, Mr. John Thain decided to ask for his $10 million bonus from the bank.

What? You read it right.

Bank of America, which gave Merrill Lynch a lifeline a few months ago so that it wouldn't collapse, was served notice by the former head of Merrill Lynch and former head of the NYSE that he was ready to receive his $10 million bonus. It doesn't get any better than this. You have got to give this guy credit for having the balls to ask for money during a time when financial institutions everywhere are on the brink of collapsing and the government has to lend them money and buy their debt to keep them afloat (think Citigroup).

Just this fall, after Bank of America purchased Merrill, the bank participated in a billion dollar government welfare line of credit in order to keep its credit open. And now, to deny one of its creditors a line of credit is absurd.

Where exactly did Thain think the bank would get his bonus money from? Maybe he was expecting the money the bank received from the government. More than likely this same thought has crossed the minds of many financial institutions. Pay bonuses with the welfare money from the government and screw the rest!

Never mind the people whose salaries could be paid from the $10 million Thain was looking to pocket. Never mind the severance packages that could be made a little sweeter for low end workers. All that matters is the big guy being taken care of and for what? Now we see how we got in this mess. Corporate greed!

Had the story of Thain and his bonus not been leaked to the press, he probably would have gotten away with it and no one would have known. What was he thinking? He is already worth millions and could probably lend money to the banks.  Better why want he and his big money pals put together a hedgefund and buy up the banks debt.