Merrill Lynch CEO Stanley O'Neal Is OUT

Photo Credit: AP

The curtains have closed on Stanley. Well he won't be hurting for cash, since his severance pay package will be over $160 million dollars. With that kind of dough, at least he can feed his family.

Yahoo! News reports:

"NEW YORK (AP) -- The unfolding credit crisis has claimed its biggest corporate casualty so far: Merrill Lynch CEO Stan O'Neal.

The announcement of his departure Tuesday came after the world's largest brokerage posted a $2.24 billion quarterly loss, its biggest since being founded 93 years ago. Merrill Lynch did not name a replacement for O'Neal, whose ouster had been expected, and who leaves the company with benefits worth $161.5 million." READ MORE...