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FBN's Robert Gray on protesters descending on the annual Bank of America shareholder meeting in North Carolina.
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Thanks very much -- shareholders and protestors making noise at the annual Bank of America shareholders meeting Robert.
-- in Charlotte, North Carolina Robert CEO hearing it from everyone -- right.
Yeah absolutely -- strange bedfellows protesters and shareholders really I ganging up on chief executive Brian morning and as you can imagine.
It was mortgages and the practice of servicing mortgages.
Faulty loan practices that dominated a long list of complaints -- inside and outside the meeting inside the meeting I just came out -- -- still on going to Q&A session but.
All nine of the proxy issues brought up were voted down the board -- re installed.
Two their posts thereby -- the votes by shareholders but the dissident shareholders really letting morning and have it over these mortgage practices some of them were under -- Homeowners themselves in addition to being shareholders.
They talked about the practices they need to better help -- and really taking -- -- -- to task for seeming to -- a lot of the blame on legacy assets from the portfolio they got when they bought Countrywide Financial a couple of years ago of course countrywide specializing in those sub prime mortgages at the height of the market and so many of us have gone under tens of billions of dollars of cost to the bank.
Since then.
But outside earlier with the Charlotte police saying some 400 protesters members of occupy environmentalists students all protesting.
I guess that make the mortgage practices their funding of the coal industry and and other issues including student loans outside including five who were arrested trying to jump the barricade to get into the meeting guys.
-- Robert Reich thank you very much a --
