An admiral (and a general) jump ship at Bank of America

The exodus of directors from Bank of America (BAC) continues, raising the question once again about whether the bank is run by its board or the government.

The firm announced that retired General Tommy Franks and retired Admiral Joseph Prueher left the board. It is fair to ask what to military men where doing on the board in the first place and whether their lack of experience impeded the board's ability to oversee management's activities.