Shareholders to take on Wall Street banks?

Is a shareholder revolt in the making against top banks? Well, that's a possibility, notes the Financial Times. We'll get an idea next month, when Morgan Stanley holds its annual meeting. So far, CtW Investment Group is the only group that is making any noise. It may seek to prevent John Mack from holding the CEO and chairman position, which would be seen as reasonable if there weren't a credit crisis. But heads of top CEOs already have rolled. That may be enough for most shareholders for now. It's possible we'll see more campaigns to withhold votes from directors. Certainly, audit committees could be in for some bad publicity. No one would be surprised if shareholders suits were lodged, citing the recent stock drops.  

For more:
- here's some background from the Financial Times

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