Bank of America keeping Merrill CEO on

Well, it must be nice. The CEO of Merrill ran his ship into the ground, but that’s ok, his pals over at Bank of America don’t mind that at all. He still will get a nice cushy job over at B of A. it is my understanding he won’t be runnning the same shop as the one that ruined his company and a few thousand employees lives.

No, he will get another area to possibly ruin….

Looks like they will have to lay off some more people to keep that Bastard on the pay roll.

• Stanley Neal, who steered Merrill Lynch (NYSE:MER) into financial collapse before being taken over by Bank of America, was given a package of $160 million when he left his post last year; That package makes current CEO John Thain was paid $17 million in salary, bonuses and stock options in 2007 look like a bargain.

• Bank of America (NYSE:BAC) is acquiring Merrill. BofA CEO Kenneth Davis brought home $25 million in 2007.