Citi Shareholders Revolt, to Little Effect

Angry shareholders descended on Citigroup's (C Quote) shareholder meeting on Tuesday, but had little effect advancing their agenda at the beleaguered bank.

Citi attempted to appease the roughly 1,500 angry shareholders that attended its annual meeting at a hotel in midtown Manhattan by saying the forum would be more shareholder-friendly.

Chairman Richard Parsons, who moderated the meeting, said the nine shareholder-led proposals would be discussed before the management proposals, to promote the fact that it was a shareholders meeting, first-and-foremost, and in an attempt to prioritize investor concerns. ...