What were they thinking?

**What was Merrill Lynch CEO John Thain thinking when he spent over $1 million to redecorate his office? Big-ticket items included $87,000 for an area rug, four pairs of curtains for $28,000, a pair of guest chairs for $87,000, and fabric for a "Roman Shade" for $11,000. Thain replaced Stan O'Neal, who was ousted in late 2007 as the company suffered major losses from the toxic mortgage-backed assets on their books. In an interview regarding the expenses, Thain claimed he wouldn’t be as productive unless he refurbished the office. Here’s a thought: If you need to redecorate your office in order to be useful, maybe you’re not so useful after all.

**What was Congress thinking when they authorized $700 million for the Troubled Assets Relief Program without knowing where the money was being spent? In a recent interview, Nancy Pelosi, House Speaker was asked to justify why Congress hasn’t been more diligent in figuring out where the $700 million has gone. She put blame on the Republicans. House Minority leader John Boehner was asked the same question. He laid blame on the Treasury Department. Well, isn’t this a surprise, politicians not wanting to be held accountable for their actions.

**What was Michigan’s electric company thinking when they cut off power to the house of a 93-year-old man who then died of hypothermia? The temperature inside Marvin Schur's house was below 32 degrees and the water in the kitchen sink had frozen. Schur, a World War II veteran, was behind in utility payments, which the utility company claims forced them to limit his power and then ultimately shut it off. So this is how we treat senior citizens, especially veterans? What’s worse, no one from the utility company even bothered to contact Mr. Schur.

Of course there’s more news that made the headlines, which I’ll share with you below, along with the new research our editors are uncovering. If you have a “what were they thinking?” story you’d like to share, please send it to us at:

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