John Thain spent $1.2 million of other people’s money redecorating his Merrill Lynch offices two months ago, while his underlings drowned. The man is clearly a genius for selling Ken Lewis a 50 lb sack of crap for $50 (?) billion but I don’t think I’ve read of a more despicable individual in American business, ever. There’s still time for that title to be contested and these days, I’m sure other candidates will emerge. But for now, Thain makes Dickie Fuld look like a warm, genuine human being.