Thain gives billions in bonuses for Merill Lynch employees

now this is just unbelievable.

John Thain, Merill Lynch's last chairman and chief executive officer(before Merill's mergeer with Bank of America)  plays with money just like that. In a year when Wall Street hits rock bottom, and losses are in the billions, he approved billions of dollars in bonuses for ML employees. 

Now, why would a CEO do such a thing ? I mean, sure, you give bonuses to keep your best people, to motivate them, etc, but so much money when the company has done so badly, with losses of billions ?  

Read more about it here.