Three months ago, at the World Economic Forum in Davos, Switzerland, I commented to one of the best-known men in American finance that he seemed pretty glum. He agreed, and said that was true for virtually every financial executive there.
But he said, there was one exception. John Thain, the newly appointed chief executive of Merrill Lynch, was smiling a lot, he said, and with good reason.
Back at home, an uninvited Jimmy Cayne was also feeling no pain.
Related: World Economic Forum: Meeting Of The Minds Or Five-Day Long E-binge? Or Both?
Looking Up, But From A Deep Hole [NYT]