Welcome to Finextra. We use cookies to help us to deliver our services. We'll assume you're ok with this, but you may change your preferences at our Cookie Centre. Please read our Privacy Policy.
For Finextra's free daily newsletter, breaking news and flashes and weekly job board.
Bank bosses just don't get it.
BofA president Ken Lewis is once again in hot water after flying to a hearing in New York with Attorney General Andrew Cuomo on a luxury private jet. Lewis was there to answer questions about billion dollar bonus payouts to Merrill staff in December.
Officials say he refused to supply the information Cuomo wanted, but as ABC reports he was at least "stonewalling in style".
The BofA president arrived in New York for his testimony on a $50 million G5 "the pre-eminent luxury corporate aircraft", one of nine in the Bank of America corporate fleet. It cost at least $5k an hour just for the gasoline and the pilots.
BofA says the jet was necessary "because of the timing of the meeting".
But at least one blogger claims Lewis was sitting in a hair salon called Emerson Joseph in Charlotte at 10:00 am, "taking his sweet time, being groomed".
Head of Research
Finextra
Member since
06 Oct 2006
Location
London
Blog posts
307
Comments
249
This post is from a series of posts in the group:
A place to share stuff that isn't at all fintec related but is amusing, absurd or scary.
Akhil Rao
7 h 0
Paul Shumsky
9 h 0 3
Ricardo Falter
15 Jan 1 2
James Tomaney
14 Jan 0 1 1