Home » Economy, Society & World

BofA Shareholder Meeting Gets Biblical

29 April 2009 No Comment

Bank of America shareholders are having their annual meeting in North Carolina today and their itinerary includes a vote as to whether the board- including chairman and CEO Ken Lewis- should keep their jobs following the disasterous (and muddy) Merrill Lynch deal. I’m working on a longer post about the vote and Merrill that I’ll put up after the meeting is over but I thought this spoke to the mood in the room

Another shareholder began with the reading of Psalm 82 before attacking board members for being complicit with poor lending practices and credit default swaps and demanding corporate reform. “We demand that we have truly independent boards and fair compensation.”

The 82nd Psalm says:

How long will you defend the unjust and show partiality to the wicked?

Comments are closed.