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Merrill Lynch brings back subprime exec

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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.

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