As Wells Fargo Faces Senate Panel, Elizabeth Warren Calls for Criminal Charges

[rightwinger]

I'm sick and tired of these mobsters not doing any prison time.

A mobster may scam $100,000

The one percent can scam $100 million and then demand a bailout if he loses money on the deal

 

[g5000]

These racketeering organizations need to be taken down the old fashioned way. You grab some of the low level punks and flip them into testifying against the bigger mobsters. You work your way to the top and send the big bosses to the clinker for a very long time.

That's how you get the bad apples in any demographic weeded out, and keep others from turning to a life of crime. You teach them that "crime doesn't pay".

 

[rightwinger]

These racketeering organizations need to be taken down the old fashioned way. You grab some of the low level punks and flip them into testifying against the bigger mobsters. You work your way to the top and send the big bosses to the clinker for a very long time.

That's how you get the bad apples in any demographic weeded out, and keep others from turning to a life of crime. You teach them that "crime doesn't pay".

It amazes me how many conservatives on this board defend what Wells Fargo did

Just because Warren attacked him

 

[GHook93]

Just what was predicted. Ignore the story.
Stupid teabagger.

Wells Fargo CEO grilled in Senate for bank's 'toxic culture'
Someone is a champion of the real people.
Now tells us, you teabaggers, about her claiming her Native American heritage.
But don't comment on the scumbag CEO and those under him and their actions.

"The sham accounting has so far cost the San Francisco-based bank a record $185 million in fines from California and federal regulators, who said the bank fraudulently opened millions of accounts over at least a five-year period in order to meet aggressive sales targets and maintain artificially high levels of its financial products.

The Senate hearing came amid news that some of the politicians questioning the CEO have received donations from the bank and from Stumpf himself. CNBC reported that Wells Fargo made donations to 20 of the 22 members of the Senate Committee on Banking, Housing, and Urban Affairs — including ranking Democrat Sherrod Brown and Republican Chairman Richard Shelby. Warren is one of the only panel members not to have accepted any contributions from the bank, nor from Stumpf personally."

More truth from Elizabeth Warren.
""You should resign," she bluntly told Wells Fargo CEO John Stumpf. "You should give back the money you took while this scam was going on and you should be criminally investigated by both the Department of Justice and the Securities and Exchange Commission," she said.

If she would call the Justice Department and the SEC perhaps she could convince them to investigate the bank. Until she does that it is just grandstanding and insulting a CEO.

No, most people aren't ignoring the story. Most conservative are disgusted with Wells. Wells Fargo had a total breakdown in their control and monitoring environment. Since I work in the compliance department of a top big to fail bank (yes Pete it is true) I have no idea how this practice remain undetected and so widespread for so long. Even a remedial compliance monitoring program should have detected this.

The leadership of Wells is incompetent, but monitoring new account openings is not the job of the CEO and would be a few layers down in management to get to the responsibility party, so for the ignorant Indian to say he should be criminally responsible is foolish.

And with Warren's past as a dishonest person her hypocrisy is astounding.

 

[rightwinger]

Just what was predicted. Ignore the story.
Stupid teabagger.

Wells Fargo CEO grilled in Senate for bank's 'toxic culture'
Someone is a champion of the real people.
Now tells us, you teabaggers, about her claiming her Native American heritage.
But don't comment on the scumbag CEO and those under him and their actions.

"The sham accounting has so far cost the San Francisco-based bank a record $185 million in fines from California and federal regulators, who said the bank fraudulently opened millions of accounts over at least a five-year period in order to meet aggressive sales targets and maintain artificially high levels of its financial products.

The Senate hearing came amid news that some of the politicians questioning the CEO have received donations from the bank and from Stumpf himself. CNBC reported that Wells Fargo made donations to 20 of the 22 members of the Senate Committee on Banking, Housing, and Urban Affairs — including ranking Democrat Sherrod Brown and Republican Chairman Richard Shelby. Warren is one of the only panel members not to have accepted any contributions from the bank, nor from Stumpf personally."

More truth from Elizabeth Warren.
""You should resign," she bluntly told Wells Fargo CEO John Stumpf. "You should give back the money you took while this scam was going on and you should be criminally investigated by both the Department of Justice and the Securities and Exchange Commission," she said.

If she would call the Justice Department and the SEC perhaps she could convince them to investigate the bank. Until she does that it is just grandstanding and insulting a CEO.

No, most people aren't ignoring the story. Most conservative are disgusted with Wells. Wells Fargo had a total breakdown in their control and monitoring environment. Since I work in the compliance department of a top big to fail bank (yes Pete it is true) I have no idea how this practice remain undetected and so widespread for so long. Even a remedial compliance monitoring program should have detected this.

The leadership of Wells is incompetent, but monitoring new account openings is not the job of the CEO and would be a few layers down in management to get to the responsibility party, so for the ignorant Indian to say he should be criminally responsible is foolish.

And with Warren's past as a dishonest person her hypocrisy is astounding.

Does a CEO monitor each new account opening?
Of course not

Is he aware of a sharp increase of 2 million new accounts? He sure included it in reports to shareholders. Should a CEO be aware that 2 million new accounts did not significantly increase his number of people holding accounts? He should be
Should he be aware that 2 million new accounts did not significantly increase deposits? He should be

Sounds criminal......especially with the money he made by playing dumb

 

[Toddsterpatriot]

Just what was predicted. Ignore the story.
Stupid teabagger.

Wells Fargo CEO grilled in Senate for bank's 'toxic culture'
Someone is a champion of the real people.
Now tells us, you teabaggers, about her claiming her Native American heritage.
But don't comment on the scumbag CEO and those under him and their actions.

"The sham accounting has so far cost the San Francisco-based bank a record $185 million in fines from California and federal regulators, who said the bank fraudulently opened millions of accounts over at least a five-year period in order to meet aggressive sales targets and maintain artificially high levels of its financial products.

The Senate hearing came amid news that some of the politicians questioning the CEO have received donations from the bank and from Stumpf himself. CNBC reported that Wells Fargo made donations to 20 of the 22 members of the Senate Committee on Banking, Housing, and Urban Affairs — including ranking Democrat Sherrod Brown and Republican Chairman Richard Shelby. Warren is one of the only panel members not to have accepted any contributions from the bank, nor from Stumpf personally."

More truth from Elizabeth Warren.
""You should resign," she bluntly told Wells Fargo CEO John Stumpf. "You should give back the money you took while this scam was going on and you should be criminally investigated by both the Department of Justice and the Securities and Exchange Commission," she said.

If she would call the Justice Department and the SEC perhaps she could convince them to investigate the bank. Until she does that it is just grandstanding and insulting a CEO.

No, most people aren't ignoring the story. Most conservative are disgusted with Wells. Wells Fargo had a total breakdown in their control and monitoring environment. Since I work in the compliance department of a top big to fail bank (yes Pete it is true) I have no idea how this practice remain undetected and so widespread for so long. Even a remedial compliance monitoring program should have detected this.

The leadership of Wells is incompetent, but monitoring new account openings is not the job of the CEO and would be a few layers down in management to get to the responsibility party, so for the ignorant Indian to say he should be criminally responsible is foolish.

And with Warren's past as a dishonest person her hypocrisy is astounding.

Does a CEO monitor each new account opening?
Of course not

Is he aware of a sharp increase of 2 million new accounts? He sure included it in reports to shareholders. Should a CEO be aware that 2 million new accounts did not significantly increase his number of people holding accounts? He should be
Should he be aware that 2 million new accounts did not significantly increase deposits? He should be

Sounds criminal......especially with the money he made by playing dumb

Is he aware of a sharp increase of 2 million new accounts?

Over what time frame? Compared to how many existing accounts?

Should a CEO be aware that 2 million new accounts did not significantly increase his number of people holding accounts? He should be

Ummmm....it was a push for cross-selling.
The idea was to increase the number of accounts held by existing account holders.

Sounds criminal......

Based on your confusion? LOL!

 

[rightwinger]

Just what was predicted. Ignore the story.
Stupid teabagger.

Wells Fargo CEO grilled in Senate for bank's 'toxic culture'
Someone is a champion of the real people.
Now tells us, you teabaggers, about her claiming her Native American heritage.
But don't comment on the scumbag CEO and those under him and their actions.

"The sham accounting has so far cost the San Francisco-based bank a record $185 million in fines from California and federal regulators, who said the bank fraudulently opened millions of accounts over at least a five-year period in order to meet aggressive sales targets and maintain artificially high levels of its financial products.

The Senate hearing came amid news that some of the politicians questioning the CEO have received donations from the bank and from Stumpf himself. CNBC reported that Wells Fargo made donations to 20 of the 22 members of the Senate Committee on Banking, Housing, and Urban Affairs — including ranking Democrat Sherrod Brown and Republican Chairman Richard Shelby. Warren is one of the only panel members not to have accepted any contributions from the bank, nor from Stumpf personally."

More truth from Elizabeth Warren.
""You should resign," she bluntly told Wells Fargo CEO John Stumpf. "You should give back the money you took while this scam was going on and you should be criminally investigated by both the Department of Justice and the Securities and Exchange Commission," she said.

If she would call the Justice Department and the SEC perhaps she could convince them to investigate the bank. Until she does that it is just grandstanding and insulting a CEO.

No, most people aren't ignoring the story. Most conservative are disgusted with Wells. Wells Fargo had a total breakdown in their control and monitoring environment. Since I work in the compliance department of a top big to fail bank (yes Pete it is true) I have no idea how this practice remain undetected and so widespread for so long. Even a remedial compliance monitoring program should have detected this.

The leadership of Wells is incompetent, but monitoring new account openings is not the job of the CEO and would be a few layers down in management to get to the responsibility party, so for the ignorant Indian to say he should be criminally responsible is foolish.

And with Warren's past as a dishonest person her hypocrisy is astounding.

Does a CEO monitor each new account opening?
Of course not

Is he aware of a sharp increase of 2 million new accounts? He sure included it in reports to shareholders. Should a CEO be aware that 2 million new accounts did not significantly increase his number of people holding accounts? He should be
Should he be aware that 2 million new accounts did not significantly increase deposits? He should be

Sounds criminal......especially with the money he made by playing dumb

Is he aware of a sharp increase of 2 million new accounts?

Over what time frame? Compared to how many existing accounts?

Should a CEO be aware that 2 million new accounts did not significantly increase his number of people holding accounts? He should be

Ummmm....it was a push for cross-selling.
The idea was to increase the number of accounts held by existing account holders.

Sounds criminal......

Based on your confusion? LOL!

There is a difference between customers opening new accounts and the bank doing it without consent

There is a difference between telling investors of huge increases in new accounts when these accounts are bogus

 

[Sun Devil 92]

Wells Fargo CEO grilled in Senate for bank's 'toxic culture'
Someone is a champion of the real people.
Now tells us, you teabaggers, about her claiming her Native American heritage.
But don't comment on the scumbag CEO and those under him and their actions.

"The sham accounting has so far cost the San Francisco-based bank a record $185 million in fines from California and federal regulators, who said the bank fraudulently opened millions of accounts over at least a five-year period in order to meet aggressive sales targets and maintain artificially high levels of its financial products.

The Senate hearing came amid news that some of the politicians questioning the CEO have received donations from the bank and from Stumpf himself. CNBC reported that Wells Fargo made donations to 20 of the 22 members of the Senate Committee on Banking, Housing, and Urban Affairs — including ranking Democrat Sherrod Brown and Republican Chairman Richard Shelby. Warren is one of the only panel members not to have accepted any contributions from the bank, nor from Stumpf personally."

More truth from Elizabeth Warren.
""You should resign," she bluntly told Wells Fargo CEO John Stumpf. "You should give back the money you took while this scam was going on and you should be criminally investigated by both the Department of Justice and the Securities and Exchange Commission," she said.

Do you work for a big bank? I do and I can say there is absolutely no fucking way he could have known about this.

Warren is an ignorant twat. The CEO of a bank would not be looking into small transactions and it would be tough to uncover. Yes the bank had a huge gap in it's controls, but calling the CEO a crook is beyond ignorant.

He was defrauded just the same he set sales quotas and these quotas were artificially met.


She says he set unrealistic sales expectations? How the fuck would she know! She never ran a damn thing.

And yes it is right to bring up her fraudulent activity to expose her hypocrisy!

How naïve can you be?

Of course he knew. This was an increase of accounts by customer from 3 to 8. He reported an astounding increase in accounts which inflated stock prices and his personal wealth. As CEO he never realized that the number of accounts was increasing but his number of customers wasn't? He never realized those added accounts were empty?

How would he know ?

 

[rightwinger]

Wells Fargo CEO grilled in Senate for bank's 'toxic culture'
Someone is a champion of the real people.
Now tells us, you teabaggers, about her claiming her Native American heritage.
But don't comment on the scumbag CEO and those under him and their actions.

"The sham accounting has so far cost the San Francisco-based bank a record $185 million in fines from California and federal regulators, who said the bank fraudulently opened millions of accounts over at least a five-year period in order to meet aggressive sales targets and maintain artificially high levels of its financial products.

The Senate hearing came amid news that some of the politicians questioning the CEO have received donations from the bank and from Stumpf himself. CNBC reported that Wells Fargo made donations to 20 of the 22 members of the Senate Committee on Banking, Housing, and Urban Affairs — including ranking Democrat Sherrod Brown and Republican Chairman Richard Shelby. Warren is one of the only panel members not to have accepted any contributions from the bank, nor from Stumpf personally."

More truth from Elizabeth Warren.
""You should resign," she bluntly told Wells Fargo CEO John Stumpf. "You should give back the money you took while this scam was going on and you should be criminally investigated by both the Department of Justice and the Securities and Exchange Commission," she said.

Do you work for a big bank? I do and I can say there is absolutely no fucking way he could have known about this.

Warren is an ignorant twat. The CEO of a bank would not be looking into small transactions and it would be tough to uncover. Yes the bank had a huge gap in it's controls, but calling the CEO a crook is beyond ignorant.

He was defrauded just the same he set sales quotas and these quotas were artificially met.


She says he set unrealistic sales expectations? How the fuck would she know! She never ran a damn thing.

And yes it is right to bring up her fraudulent activity to expose her hypocrisy!

How naïve can you be?

Of course he knew. This was an increase of accounts by customer from 3 to 8. He reported an astounding increase in accounts which inflated stock prices and his personal wealth. As CEO he never realized that the number of accounts was increasing but his number of customers wasn't? He never realized those added accounts were empty?

How would he know ?

Because it is his job to know the details of two million new accounts.
Why aren't there new customers, why haven't our account ballances increased?

 

[Sun Devil 92]

Wells Fargo CEO grilled in Senate for bank's 'toxic culture'
Someone is a champion of the real people.
Now tells us, you teabaggers, about her claiming her Native American heritage.
But don't comment on the scumbag CEO and those under him and their actions.

"The sham accounting has so far cost the San Francisco-based bank a record $185 million in fines from California and federal regulators, who said the bank fraudulently opened millions of accounts over at least a five-year period in order to meet aggressive sales targets and maintain artificially high levels of its financial products.

The Senate hearing came amid news that some of the politicians questioning the CEO have received donations from the bank and from Stumpf himself. CNBC reported that Wells Fargo made donations to 20 of the 22 members of the Senate Committee on Banking, Housing, and Urban Affairs — including ranking Democrat Sherrod Brown and Republican Chairman Richard Shelby. Warren is one of the only panel members not to have accepted any contributions from the bank, nor from Stumpf personally."

More truth from Elizabeth Warren.
""You should resign," she bluntly told Wells Fargo CEO John Stumpf. "You should give back the money you took while this scam was going on and you should be criminally investigated by both the Department of Justice and the Securities and Exchange Commission," she said.

Do you work for a big bank? I do and I can say there is absolutely no fucking way he could have known about this.

Warren is an ignorant twat. The CEO of a bank would not be looking into small transactions and it would be tough to uncover. Yes the bank had a huge gap in it's controls, but calling the CEO a crook is beyond ignorant.

He was defrauded just the same he set sales quotas and these quotas were artificially met.


She says he set unrealistic sales expectations? How the fuck would she know! She never ran a damn thing.

And yes it is right to bring up her fraudulent activity to expose her hypocrisy!

How naïve can you be?

Of course he knew. This was an increase of accounts by customer from 3 to 8. He reported an astounding increase in accounts which inflated stock prices and his personal wealth. As CEO he never realized that the number of accounts was increasing but his number of customers wasn't? He never realized those added accounts were empty?

How would he know ?

Because it is his job to know the details of two million new accounts.
Why aren't there new customers, why haven't our account ballances increased?

So, you are a CEO ?

 

[rightwinger]

Wells Fargo CEO grilled in Senate for bank's 'toxic culture'
Someone is a champion of the real people.
Now tells us, you teabaggers, about her claiming her Native American heritage.
But don't comment on the scumbag CEO and those under him and their actions.

"The sham accounting has so far cost the San Francisco-based bank a record $185 million in fines from California and federal regulators, who said the bank fraudulently opened millions of accounts over at least a five-year period in order to meet aggressive sales targets and maintain artificially high levels of its financial products.

The Senate hearing came amid news that some of the politicians questioning the CEO have received donations from the bank and from Stumpf himself. CNBC reported that Wells Fargo made donations to 20 of the 22 members of the Senate Committee on Banking, Housing, and Urban Affairs — including ranking Democrat Sherrod Brown and Republican Chairman Richard Shelby. Warren is one of the only panel members not to have accepted any contributions from the bank, nor from Stumpf personally."

More truth from Elizabeth Warren.
""You should resign," she bluntly told Wells Fargo CEO John Stumpf. "You should give back the money you took while this scam was going on and you should be criminally investigated by both the Department of Justice and the Securities and Exchange Commission," she said.

Do you work for a big bank? I do and I can say there is absolutely no fucking way he could have known about this.

Warren is an ignorant twat. The CEO of a bank would not be looking into small transactions and it would be tough to uncover. Yes the bank had a huge gap in it's controls, but calling the CEO a crook is beyond ignorant.

He was defrauded just the same he set sales quotas and these quotas were artificially met.


She says he set unrealistic sales expectations? How the fuck would she know! She never ran a damn thing.

And yes it is right to bring up her fraudulent activity to expose her hypocrisy!

How naïve can you be?

Of course he knew. This was an increase of accounts by customer from 3 to 8. He reported an astounding increase in accounts which inflated stock prices and his personal wealth. As CEO he never realized that the number of accounts was increasing but his number of customers wasn't? He never realized those added accounts were empty?

How would he know ?

Because it is his job to know the details of two million new accounts.
Why aren't there new customers, why haven't our account ballances increased?

So, you are a CEO ?

I'd do a better job than that fucking thief

 

[Sun Devil 92]

Do you work for a big bank? I do and I can say there is absolutely no fucking way he could have known about this.

Warren is an ignorant twat. The CEO of a bank would not be looking into small transactions and it would be tough to uncover. Yes the bank had a huge gap in it's controls, but calling the CEO a crook is beyond ignorant.

He was defrauded just the same he set sales quotas and these quotas were artificially met.


She says he set unrealistic sales expectations? How the fuck would she know! She never ran a damn thing.

And yes it is right to bring up her fraudulent activity to expose her hypocrisy!

How naïve can you be?

Of course he knew. This was an increase of accounts by customer from 3 to 8. He reported an astounding increase in accounts which inflated stock prices and his personal wealth. As CEO he never realized that the number of accounts was increasing but his number of customers wasn't? He never realized those added accounts were empty?

How would he know ?

Because it is his job to know the details of two million new accounts.
Why aren't there new customers, why haven't our account ballances increased?

So, you are a CEO ?

I'd do a better job than that fucking thief

Put your application in. I am sure you'll be considered.

But, since it is clear you are not one and have not been one, it's pretty funny to think you know what his job is.

 

[namvet]

did Warren have any children that lived??

 

[initforme]

Big banks can get away with anything. Money is all that matters in the USA. Morals and laws take a back seat to the dollar. That's the way it is. Screw the little guy any way you can is the new motto now.

 

[rightwinger]

How naïve can you be?

Of course he knew. This was an increase of accounts by customer from 3 to 8. He reported an astounding increase in accounts which inflated stock prices and his personal wealth. As CEO he never realized that the number of accounts was increasing but his number of customers wasn't? He never realized those added accounts were empty?

How would he know ?

Because it is his job to know the details of two million new accounts.
Why aren't there new customers, why haven't our account ballances increased?

So, you are a CEO ?

I'd do a better job than that fucking thief

Put your application in. I am sure you'll be considered.

But, since it is clear you are not one and have not been one, it's pretty funny to think you know what his job is.

I doubt if he knows what his job is

Fleecing customers and investors is not part of it

 

[Toddsterpatriot]

Just what was predicted. Ignore the story.
Stupid teabagger.

If she would call the Justice Department and the SEC perhaps she could convince them to investigate the bank. Until she does that it is just grandstanding and insulting a CEO.

No, most people aren't ignoring the story. Most conservative are disgusted with Wells. Wells Fargo had a total breakdown in their control and monitoring environment. Since I work in the compliance department of a top big to fail bank (yes Pete it is true) I have no idea how this practice remain undetected and so widespread for so long. Even a remedial compliance monitoring program should have detected this.

The leadership of Wells is incompetent, but monitoring new account openings is not the job of the CEO and would be a few layers down in management to get to the responsibility party, so for the ignorant Indian to say he should be criminally responsible is foolish.

And with Warren's past as a dishonest person her hypocrisy is astounding.

Does a CEO monitor each new account opening?
Of course not

Is he aware of a sharp increase of 2 million new accounts? He sure included it in reports to shareholders. Should a CEO be aware that 2 million new accounts did not significantly increase his number of people holding accounts? He should be
Should he be aware that 2 million new accounts did not significantly increase deposits? He should be

Sounds criminal......especially with the money he made by playing dumb

Is he aware of a sharp increase of 2 million new accounts?

Over what time frame? Compared to how many existing accounts?

Should a CEO be aware that 2 million new accounts did not significantly increase his number of people holding accounts? He should be

Ummmm....it was a push for cross-selling.
The idea was to increase the number of accounts held by existing account holders.

Sounds criminal......

Based on your confusion? LOL!

There is a difference between customers opening new accounts and the bank doing it without consent

There is a difference between telling investors of huge increases in new accounts when these accounts are bogus

There is a difference between customers opening new accounts and the bank doing it without consent

Abso-fuckin-lutely.
And there's a difference between, "Weird, we have 2 million new accounts, but the same number of customers, it must be fraud" and "Cool, we have 2 million new accounts, but the same number of customers, that's what cross selling is all about!!"

There is a difference between telling investors of huge increases in new accounts when these accounts are bogus

Yes, bogus accounts are bad. Opening unauthorized customer accounts is bad.
Charging fees for unauthorized accounts you opened is bad.

 

[Dont Taz Me Bro]

Wells Fargo CEO grilled in Senate for bank's 'toxic culture'
Someone is a champion of the real people.
Now tells us, you teabaggers, about her claiming her Native American heritage.
But don't comment on the scumbag CEO and those under him and their actions.

"The sham accounting has so far cost the San Francisco-based bank a record $185 million in fines from California and federal regulators, who said the bank fraudulently opened millions of accounts over at least a five-year period in order to meet aggressive sales targets and maintain artificially high levels of its financial products.

The Senate hearing came amid news that some of the politicians questioning the CEO have received donations from the bank and from Stumpf himself. CNBC reported that Wells Fargo made donations to 20 of the 22 members of the Senate Committee on Banking, Housing, and Urban Affairs — including ranking Democrat Sherrod Brown and Republican Chairman Richard Shelby. Warren is one of the only panel members not to have accepted any contributions from the bank, nor from Stumpf personally."

More truth from Elizabeth Warren.
""You should resign," she bluntly told Wells Fargo CEO John Stumpf. "You should give back the money you took while this scam was going on and you should be criminally investigated by both the Department of Justice and the Securities and Exchange Commission," she said.

Do you work for a big bank? I do and I can say there is absolutely no fucking way he could have known about this.

Warren is an ignorant twat. The CEO of a bank would not be looking into small transactions and it would be tough to uncover. Yes the bank had a huge gap in it's controls, but calling the CEO a crook is beyond ignorant.

He was defrauded just the same he set sales quotas and these quotas were artificially met.


She says he set unrealistic sales expectations? How the fuck would she know! She never ran a damn thing.

And yes it is right to bring up her fraudulent activity to expose her hypocrisy!

How naïve can you be?

Of course he knew. This was an increase of accounts by customer from 3 to 8. He reported an astounding increase in accounts which inflated stock prices and his personal wealth. As CEO he never realized that the number of accounts was increasing but his number of customers wasn't? He never realized those added accounts were empty?

How would he know ?

I don't know that it really matters. Whatever happened to the buck stops here

 

[Toddsterpatriot]

Wells Fargo CEO grilled in Senate for bank's 'toxic culture'
Someone is a champion of the real people.
Now tells us, you teabaggers, about her claiming her Native American heritage.
But don't comment on the scumbag CEO and those under him and their actions.

"The sham accounting has so far cost the San Francisco-based bank a record $185 million in fines from California and federal regulators, who said the bank fraudulently opened millions of accounts over at least a five-year period in order to meet aggressive sales targets and maintain artificially high levels of its financial products.

The Senate hearing came amid news that some of the politicians questioning the CEO have received donations from the bank and from Stumpf himself. CNBC reported that Wells Fargo made donations to 20 of the 22 members of the Senate Committee on Banking, Housing, and Urban Affairs — including ranking Democrat Sherrod Brown and Republican Chairman Richard Shelby. Warren is one of the only panel members not to have accepted any contributions from the bank, nor from Stumpf personally."

More truth from Elizabeth Warren.
""You should resign," she bluntly told Wells Fargo CEO John Stumpf. "You should give back the money you took while this scam was going on and you should be criminally investigated by both the Department of Justice and the Securities and Exchange Commission," she said.

Do you work for a big bank? I do and I can say there is absolutely no fucking way he could have known about this.

Warren is an ignorant twat. The CEO of a bank would not be looking into small transactions and it would be tough to uncover. Yes the bank had a huge gap in it's controls, but calling the CEO a crook is beyond ignorant.

He was defrauded just the same he set sales quotas and these quotas were artificially met.


She says he set unrealistic sales expectations? How the fuck would she know! She never ran a damn thing.

And yes it is right to bring up her fraudulent activity to expose her hypocrisy!

How naïve can you be?

Of course he knew. This was an increase of accounts by customer from 3 to 8. He reported an astounding increase in accounts which inflated stock prices and his personal wealth. As CEO he never realized that the number of accounts was increasing but his number of customers wasn't? He never realized those added accounts were empty?

How would he know ?

Because it is his job to know the details of two million new accounts.
Why aren't there new customers, why haven't our account ballances increased?

Because it is his job to know the details of two million new accounts.
Why aren't there new customers

Do you know what cross-selling is? It's not when Caitlyn Jenner sells you something.
I'll give you some examples, so you don't sound so stupid when you discuss the topic.

You have a Wells Fargo mortgage.
They try to get you to open a credit card, checking account, CD, home equity line, brokerage account and would you like to refinance your mortgage to help pay off those other credit card balances?
They called those things, "solutions". From the Wall Street Journal......

"In 1999, the bank said its customers on average used three of its products or services—the bank calls them “solutions”—and hoped to increase that number to eight. The goal has remained in place for years, according to the Los Angeles lawsuit, which said it was known internally as the “Gr-eight” initiative"

So, you see, adding a lot more accounts without adding a lot of new customers was their intention, not a sign that something fraudulent was happening (even though it was).

 

[Toddsterpatriot]

Big banks can get away with anything. Money is all that matters in the USA. Morals and laws take a back seat to the dollar. That's the way it is. Screw the little guy any way you can is the new motto now.

Big banks can get away with anything.

Can they? They charged $2.4 million in bogus fees and paid, so far, $185 million in fines, plus restitution.

 

[Sun Devil 92]

How would he know ?

Because it is his job to know the details of two million new accounts.
Why aren't there new customers, why haven't our account ballances increased?

So, you are a CEO ?

I'd do a better job than that fucking thief

Put your application in. I am sure you'll be considered.

But, since it is clear you are not one and have not been one, it's pretty funny to think you know what his job is.

I doubt if he knows what his job is

Fleecing customers and investors is not part of it

How would you know if he didn't....you certainly don't know it.