The QC - who served during former owner David Murray's tenure - attacked the plc directors who have presided over a £14.4million loss during the 13-month period up to June.
He also hit out at Brian Stockbridge after the finance director was forced to hand back a £200,000 bonus awarded to him after the club won the Third Division title last season.
And Findlay - now chairman of Cowdenbeath - called on shareholders to remove the current board at Thursday's Annual General Meeting.
Findlay said: "The squabbling has gone on too long. It's time to clear the whole lot out and only have people in who want to take the club forward and who do not want to take a penny out of it."
He added: "The people responsible for what Rangers Football Club has done to itself and the embarrassment and distress it has caused its supporters should be ashamed of themselves and should not be allowed anywhere near it."
Findlay, who stepped down as the club's vice-chairman in 1999 after he was caught on camera singing a controversial anthem, went on: "Someone who is the club's internal accountant should be paid the commercial rate if you are going to get the right guy. Of course he should.
"But frankly the notion that a financial director should be given a £200,000 bonus for winning the Third Division is ridiculous. Absolutely ridiculous. And that tells me that whoever made that decision should not be running Rangers."