Well, fair enough. Here's what I got wrong. That $1.2 million renovation of his office, with the notorious $35,000 "commode on legs"? That was done in 2007, not 2008. 1 also said that when the news broke about Merrill Lynch's staggering fourth quarter losses- at the same time the company handed out $3.6 billion in bonuses- [John Thain] was skiing in Vail. Turns out I was wrong. Thain went to Vail over Christmas, before the news broke but, according to Time, after he had learned about the losses. I humbly apologize for these errors that totally distort Thain's fine record.This leads inevitably to the "have they no shame" question. Turns out shame works. As Derris reminded me, Thain has - under the glare of bad publicity- offered to repay the office renovation costs, acknowledging, "They were a mistake in light of the world we live in today." Now there's an understatement; some of us think they would have been a mistake anytime.Then, in 2000, [Phil Gramm] slipped into an omnibus spending bill the Commodity Futures Modernization Act. This 262page amendment, no doubt read by few, deregulated derivatives trading. As [David Corn] reported, Gramm sold the amendment as essential to "protect financial institutions from overregulation" allowing them "to be world leaders into the new century" Well, that's true - leaders of financial catastrophe.