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BofA's Moynihan Heckled at Citi Conference

March 8, 2012
[ by Melanie Gretchen ] Bank of America CEO Brian Moynihan was forced to compete with several groups of protestors throughout his speech to analysts and investors at the Citi Financial Services conference.  The speech, at New York's Waldorf-Astoria Hotel on Thursday morning, had just begun when the first hecklers chanted, "Bust up Bank of America before it busts up America."  Next, a group representing International Women’s Day began heckling Mr. Moynihan, effectively stopping the speech and webcast for several minutes, which prompted loud boos from the audience. During the Q&A session, the CEO himself acknowledged the taunts and protests.  When discussing the mortgage settlement last month and the bank’s efforts to streamline the foreclosure process, he said:  "The impression you get from people attending today is that we’ve done nothing."  In fact, “we’ve modified a million mortgages,” and listed other steps taken by the bank - including hiring tens of thousands of new workers to deal with the swelling case load. Though the interruptions affected the event and its crowd, Bank of America shares remained unchanged Thursday morning at $8.02.   [Dealbook, 3/8/12]