User 68127

Market Analysis: Merrill Lynch and the Economy In Focus

Thain argues that everything he previously said was true "at the time." So...if you do in fact need capital a few days or weeks later, it was not a falsehood?

Thain is either not truthful or not competent. His defense shows that he prefers to be viewed as incompetent rather than dishonest. (Actually, he appears to be both!)