Merrill Lynch brings back subprime exec

The new Merrill Lynch CEO, John Thain, has brought back an executive
who was reportedly fired for warning last year that the firm’s subprime
bonds were headed for a meltdown. Jeff Kronthal, the former principal
finance chief, was let go by the previous CEO, Stan O’Neal, who was
ousted in October after the bank announced $8.4 billion in write-downs.