Thain ousted from Bank of America amid losses (Reuters)

Former Merrill Lynch CEO John Thain poses before a news conference in Mumbai in this May 7, 2008 file photo. (Punit Paranjpe/Reuters)Reuters – John Thain, former chief executive of Merrill Lynch & Co, has been ousted from Bank of America Corp after the bank discovered surprise losses at the brokerage it bought three weeks ago.

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