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a tanking economy when it was also disclosed that he had spent more than $1.2 million to redecorate his office, even as his firm struggled for its life.




Thain used the same celebrity decorator,cheap jordans, Michael Smith, that the Obama family has retained to decorate the White House. According to Charlie Gasparino, CNBC's on air editor, who broke the story, the money Thain spent in part went for two area rugs ($131,000),cheap jordans free shipping, two guest chairs ($87,000), a 19th Century credenza ($68,000), four pairs of curtains ($28,000), and a mahogany pedestal table ($25,000).




Also reported to be on the list was a trash can for $1,400.




Thain's attorney said he has agreed to reimburse the company for those charges,www.amassdenver.com.




"He agreed to pay back the cost of the furniture a month ago," Derris said. "We have requested in writing the cost of the furniture and will pay it back," Levander added.




Thain, who earned his MBA at Harvard, was named Chairman and CEO of Merrill in November 2007. The following January, the firm announced record-breaking losses of over $8 billion. By April the troubled investment bank had said it would lay off as much as 10 percent of its workforce.

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