Yesterday's Citigroup Meeting.

Does anyone really believe that hedge funds and more pension managers are not going to play this out for very public company, sooner or later? They've gotten hammered and need to make sure someone else gets the blame.

. . opposition from shareholder adviser RiskMetrics Group Inc (RMG.N) and the pension fund California Public Employees' Retirement System, or CalPERS.

Citigroup says will pay back U.S.; directors elected | Reuters: "The embattled CEO spoke at an annual meeting that stretched to roughly six hours, where he and lead director Richard Parsons fielded complaints from investors furious about the 94 percent plunge in their shares since the beginning of 2007.
. . .'Your board of directors are too terrible for words -- they're dumb,' said Peggy McMahon, who later told Reuters the declining value of her Citi shares resulted in a $250,000 loss."
. . . Every shareholder proposal failed to pass, but some came close to winning, including one that would allow investors to call special shareholder meetings, which received a little less than half the votes cast.
. . . They also reelected directors C. Michael Armstrong, John Deutch and Alain Belda despite opposition from shareholder adviser RiskMetrics Group Inc (RMG.N) and the pension fund California Public Employees' Retirement System, or CalPERS.

Armstrong and Deutch have been audit committee members, and Belda is a former lead director.