For, Lo, Thine Enemies Make A Tumult

Abby Zimet

Angry shareholders
ousted Kenneth Lewis as chairman of Bank of America, but narrowly voted to keep him on as chief executive. During a four-hour meeting, speakers blasted Lewis for his ill-advised purchase of Merrill Lynch, questioned the bank's billions in bonuses and bailouts, cited Psalm 83, and suggested Lewis give away a $10 million salary he clearly didn't deserve. Still, he remains head of the board. To fire him from that job too, go here.

"This is an unambiguous vote of no confidence," said Campbell Harvey, finance professor at Duke University. "Shareholders were able to turn the tide here."


FRIENDS: Help Us Fight

Independent journalism has become the last firewall against government and corporate lies. Yet, with frightening regularity, independent media sources are losing funding, closing down or being blacked out by Google and Facebook. Never before has independent media been more endangered. If you believe in Common Dreams, if you believe in people-powered independent media, please support us now and help us fight—with truths—against the lies that would smother our democracy. Please help keep Common Dreams alive and growing. Thank you. -- Craig Brown, Co-founder

Support Common DreamsSupport Common Dreams

Share This Article

More in: