Tuesday, April 28, 2009

BOA / Ken Lewis

When Congress authorized billions to help failing banks, the goal was clear – open a stream of lending to aid struggling Americans and repair our economy.

But rather than use that money to help our struggling middle class, it's been business as usual for Bank of America's CEO, Ken Lewis.

Lewis accepted billions in taxpayer dollars while leading his company into a downward spiral, putting thousands out of work and further damaging our economy.

We've got to replace the failed leadership that led our economy down the drain! Sign our "taxpayer proxy card" today – we're delivering it to Bank of America's shareholders this Wednesday.

Ken Lewis is perhaps the worst example of an inept, wasteful CEO. Lewis got nearly $200 billion in taxpayer bailout funds¹, then turned around and paid out $3.6 billion in executive bonuses² while 35,000 employees were laid off.³

And here's the kicker: after accepting taxpayer money, Lewis has been organizing bankers and CEOs in a campaign to defeat the Employee Free Choice Act4, the bill that would restore the middle class by making it easier for workers to form unions (and help clean up the mess made by people like Lewis).

This Wednesday, April 29, Bank of America will have its annual shareholder meeting. Bank of America will be considering proposals that will determine the fate of their CEO, Ken Lewis. Since the U.S. government is the largest stakeholder in Bank of America – having accepted nearly $200 billion in taxpayer funds – taxpayers deserve a say too!

Tell Bank of America's board: we can't trust the same people who got us into this recession to lead us out – it's time to fire Bank of America's CEO, Ken Lewis!

There can't be real reform on Wall Street until the CEOs who brought down the financial system are long gone.


Liz Cattaneo
American Rights at Work

P.S. On Tuesday, April 28 "Bank of America: Enough!" events are happening around the country. You can find an event near you by clicking here.

¹ SEIU Blog, 4/24/09
² CNN Money, 2/20/09
³ SEIU Blog, 2/12/09
4 Huffington Post, 1/27/09

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