John Thain leaves Merrill Lynch today after dubbed Mr. Commode on Legs (or Mr. Commode with Legs). How did John Thain get the net nickname Commode on Legs?

Because of a $35,000 commode on legs that John Thain had allegedly installed in an opulent office renovation while at Merrill Lynch. How much did he spend?

Reports CNBC: allegedly $1.2 million! And now Merrill’s earnings are down the drain.

* Area Rug $87,784
* Mahogany Pedestal Table $25,713
* 19th Century Credenza $68,179
* Pendant Light Furniture $19,751
* 4 Pairs of Curtains $28,091
* Pair of Guest Chairs $87,784
* George IV Chair $18,468
* 6 Wall Sconces $2,741
* Parchment Waste Can $1,405
* Roman Shade Fabric $10,967
* Roman Shades $7,315
* Coffee Table $5,852
* Commode on Legs $35,115