The Wall Street Journal reported last week that the feds are pressuring Bank of America to bring in directors that have more banking experience. What a novel idea! The folks in charge of overseeing the nation's largest bank should actually have some experience working with...banks. Sadly even BofA's new Chairman, Walter Massey, comes up short when it comes to banking experience.

In order to have real change at BofA, we need directors who are going to be more than just rubber stamps for CEO Ken Lewis's failed policies. Earlier this month, the Wall Street Journal reported, "Mr. Massey also said there will be no change in the bank's overall strategy. 'Our model is not broken,' he said." Well, if it ain't broken, it's sure got some 200 billion cracks in it.

Four BofA directors, including Massey, have served on the bank's board for more than 10 years. According to corporate governance expert Bob Monks of Institutional Shareholder Services (ISS), "It's impossible to be an independent director after more than 10 years," because it becomes harder to critically evaluate the company after that much time. This is even more so the case when the directors or their companies get $624 million worth of insider loans from BofA while the rest of us are have to turn to Fat Tony because the banks have stopped lending.

New directors who know what they are doing and are committed to reforming the bank's broken policies--now that would be change you can believe in. Click here to send a letter to Walter Massey to demand real change at Bank of America.