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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
06 Oct 2006
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.