Robin Hood Storms Chase Castle and M&I Execs Get Piggish

from BanksterUSA:




Robin Hood Storms Chase Castle and M&I Execs Get Piggish
Submitted by Mary Bottari on May 18, 2011 - 08:48


On Tuesday, the shareholders of Marshall and Ilsley (M&I) Bank of Wisconsin “voted” to give $71 million in bonuses to failed executives as part of an acquisition deal. “Voted” may not be the right word, since CEO Mark Furlong opened and closed the meeting within the span of five minutes, allowing no discussion and no questions from the dozen or so shareholders in the room. Furlong has apparently learned Robert's Rules of Order from his friend Governor Scott Walker and the rest of the gang in the Wisconsin Capitol.

Furlong fled to New York to get away from the Wisconsinites who had been badgering him with uncomfortable questions. Questions about those embarrassing bonuses, the $1.3 billion in unpaid TARP bailout funds, and the even more embarrassing $54,000 in campaign contributions to Wisconsin's newly elected governor. Recently, the bank posted its 10th consecutive quarterly loss of $142 million. The bonuses alone would cover half this loss if they were retained.

At the Marriot in Time Square, Furlong was met by towering piggy dressed as a banker and a giant inflatable "fat cat" with a grip on the throat of a worker in a hardhat. About 700 protesters outside, including New York and Wisconsin firefighters, kicked up a ruckus which echoed through Times Square's urban canyon.



Cheeseheads Chase Down M&I Execs

Ruben Hopkins, President and CEO of the Wisconsin Black Chamber of Commerce was in the room when a nervous Furlong, flanked by security guards, repeatedly ruled shareholders with questions out of order. “It reminded me of when they passed the collective bargaining bill and a legislator stood in front of the Senators saying ‘this meeting is in violation of the open meetings law’ over and over again, and they just ignored him and passed the bill. It was exactly the same thing all over again. They passed it and walked out. Incredibly arrogant," said Hopkins. ................(more)

The complete piece is at: http://www.banksterusa.org/content/robin-hood-storms-chase-castle-and-mi-execs-get-piggish