Comment on And the score is, BofA: one, shareholders: zero

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Tue, 02/23/2010 - 7:57am

And the score is, BofA: one, shareholders: zero

Image via Wikipedia So the judge caved after all: Bank of America gets away with a $150 million fine — the equivalent of a corporate wrist-slap; its executives get off scott free; it doesn’t have to give the government a say in its choice of compensation consultants; and shareholders, as usual, are left holding the bag. Let me get this out of my system first: The only thing that makes sense is to force BofA to distribute that $150 million as a special dividend to its shareholders of record at the time it purchased Merrill.  Seems easy and fair — so of course it doesn’t seem to have even been

 

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