Obama Whacks Thain

Former Lehman Brothers CEO Dick Fuld can relax. It looks like former Merrill Lynch CEO John Thain is Wall Street’s new punching bag. Even President Obama is taking shots. While discussing stimulus packages this morning, Obama said we need to make sure “taxpayer money should not go toward renovating offices.” The reference was to Charlie Gasparino’s report yesterday on The Daily Beast and CNBC that Thain spent over $1 million in early 2008 redecorating his office.