This image was lost some time after publication.

With all due respect, Bank of America didn't suddenly force out John Thain because he spent $1 million on office decorations a year ago. That was a year ago! And lots has happened since then! Remember last month when John Thain asked for a year-end bonus, an effort he almost immediately abandoned? That didn't look too good! Then he went to Vail over the holidays right around the same time Bank of America was closing on its acquisition of Merrill Lynch, firing thousands of employees, and preparing to announce record losses. Today's damaging news? Thain approved $3 to $4 billion—that's "b" for billion—in bonus payouts three days before the Merrill sale went through. But when the real story is kinda complicated, it's easier to place blame on $44,000 area rugs! [Gawker, Gothamist]