Former Merrill Lynch CEO John Thain gave out 4 billion USD in discretionary year-end bonuses just before the company was rescued by Bank of America. This practice demonstrates managerial greed.

Question

Quizplus · Accepted Answer

A healthy ego helps make a leader confident, clearheaded, and able to cope with change. CEOs, by their very nature, are intensely competitive people in the office as well as on the tennis court or golf course. But sometimes when pride is at stake, individuals will go to great lengths to win. Few executives are exempt from the potential downside of excessive egos and greed.

Former Merrill Lynch CEO John Thain Gave Out 4 Billion