They Should Be Sent To Prison

[candycorn]

$0

Shouldn’t have happened in the first place

But it did. And the punishment was very severe and even now Wells Fargo loses many opportunities and potential clients because of this. The punishment fit the offense.

Again, when you strip away regulations this is what business does. The fine was a slap on the wrist,

That’s not what happened. Zero to do with regulations that were supposedly stripped. You’re uninformed. They were making up deposit accounts. It was blatant fraud and would be right now as well

Seems like a regulator would notice such things.

How? That is not what regulators normally check. Do you even know what Bank regulators do?

Yes. You do not

 

[LuckyDuck]

The last, at least for me, there's already too much cigarette stench in public areas; we don't need more stench to pass through.

Pretty petty to use the color of law because you're uncomfortable.

Re-criminalizing cannabis is worse than 1930s 'reefer madness'

And you're any different? That others find it uncomfortable to be subjected to that foul sulphurous stench when they are out and about and your stance is "F*CK OTHERS."

 

[Dont Taz Me Bro]

Our President does not think white collar crime is worthy of jail time. If you get caught you just buy your way out.....cost of doing business

I didn't realize the White House was responsible for prosecuting crimes, but let's not allow that to get in the way of your partisan trolling.

 

[Dont Taz Me Bro]

The priorities in this nation are all messed up.

People are sent to prison for years for being found with marijuana in some states. No one is harmed by that marijuana but the person caught with it is automatically sent to prison for years. Usually with no chance of parole.

Wells Fargo, the nations 4th largest bank, is caught in another massive fraud scheme. The only reason they went through with the scheme was greed. They just couldn't be happy with normal profits. They had to break the law to increase their profits.

They defrauded millions of people. Charged them fees on accounts they didn't even know they had. All to increase profits.

Yet no one goes to prison. The bank is paying it's way out of prison with a 3 billion dollar fine. Which is really a bribe. The former chief executive is fined 17 million dollars with others being fined smaller amounts.

While they raked in billions.

This is so wrong. These people need to be put in prison for their crimes. They need to face real justice. Not just pay their way out of prison then go on merrily with their very soft lives living in luxury.

Wells Fargo to pay $3 billion to settle civil lawsuit over fake account scandal

I agree. There are people at the top of the chain who ultimately ordered their employees to do this. They should be prosecuted for it.

 

[Dont Taz Me Bro]

$3bn is great. Prison should be reserved for violent felons.

And what is that $3 billion going to do? Who is going to receive it and who is going to pay it? The company will be paying the fee, not the actual people responsible. What they did was criminal and they should go to prison for it.

 

[AzogtheDefiler]

But it did. And the punishment was very severe and even now Wells Fargo loses many opportunities and potential clients because of this. The punishment fit the offense.

Again, when you strip away regulations this is what business does. The fine was a slap on the wrist,

That’s not what happened. Zero to do with regulations that were supposedly stripped. You’re uninformed. They were making up deposit accounts. It was blatant fraud and would be right now as well

Seems like a regulator would notice such things.

How? That is not what regulators normally check. Do you even know what Bank regulators do?

Yes. You do not

Incorrect.

 

[AzogtheDefiler]

$3bn is great. Prison should be reserved for violent felons.

And what is that $3 billion going to do? Who is going to receive it and who is going to pay it? The company will be paying the fee, not the actual people responsible. What they did was criminal and they should go to prison for it.

Yes and those peoples careers are ruined forever. $3bn will go to our Gov't to do so as they see fit. Maybe pay down some of our debt?

 

[Gdjjr]

And you're any different?

I'm quite different.

 

[Fort Fun Indiana]

The priorities in this nation are all messed up.

People are sent to prison for years for being found with marijuana in some states. No one is harmed by that marijuana but the person caught with it is automatically sent to prison for years. Usually with no chance of parole.

Wells Fargo, the nations 4th largest bank, is caught in another massive fraud scheme. The only reason they went through with the scheme was greed. They just couldn't be happy with normal profits. They had to break the law to increase their profits.

They defrauded millions of people. Charged them fees on accounts they didn't even know they had. All to increase profits.

Yet no one goes to prison. The bank is paying it's way out of prison with a 3 billion dollar fine. Which is really a bribe. The former chief executive is fined 17 million dollars with others being fined smaller amounts.

While they raked in billions.

This is so wrong. These people need to be put in prison for their crimes. They need to face real justice. Not just pay their way out of prison then go on merrily with their very soft lives living in luxury.

Wells Fargo to pay $3 billion to settle civil lawsuit over fake account scandal

They absolutely should spend time in prison. Each of the individuals who orchestrated this were personally enriched by the scheme. And now the shareholders and customers of Wells Fargo get to foot the bill, while they sit on a beach somewhere and laugh it up..

These individuals should not only get jail time but should have their personal wealth confiscated. Get caught selling pot and can't provide documentation that the profits were not used to buy your personal possessions? Then the possessions get confiscated.

this is what happens when rich people and corporations control our government.

 

[Fort Fun Indiana]

I didn't realize the White House was responsible for prosecuting crimes

Then you are confused, as the DOJ officials all serve at the pleasure of the President, and the President is the top banana of the executive branch, which is responsible for prosecuting federal lawbreakers.

So yes, the President often is and can be held responsible for how lawbreakers are or aren't prosecuted and can have a say in it.

 

[Fort Fun Indiana]

Yes and those peoples careers are ruined forever.

No they aren't. But hey definitely should be, as well as their personal wealth they accumulated from the fraud.

 

[AzogtheDefiler]

Yes and those peoples careers are ruined forever.

No they aren't. But hey definitely should be, as well as their personal wealth they accumulated from the fraud.

Why would another bank hire them? Careers are over. Non violent crimes should be punishable by fines and home confinement not jail time IMO

 

[Fort Fun Indiana]

Why would another bank hire them?

Because, as it turns out, other bank executives are also frauds and criminals. These guys happened to get caught, this time.

Second, they personally profited mightily from these scams, taking their bonuses and raises and using their stock options. I should weep that they may not get the exact same job again? give me a break. Why this sympathy is reserved for rich bank executives will always baffle me. Oh, what a price they have paid! Please.

Imprisonment isn't just about punishment. It is also about deterrence. All your money won't get you anything special in prison, except for maybe more pairs of flip flops.

 

[AzogtheDefiler]

Why would another bank hire them?

Because, as it turns out, other bank executives are also frauds and criminals. These guys happened to get caught, this time.

Second, they personally profited mightily from these scams, taking their bonuses and raises and using their stock options. I should weep that they may not get the exact same job again? give me a break. Why this sympathy is reserved for rich bank executives will always baffle me. Oh, what a price they have paid! Please.

Imprisonment isn't just about punishment. It is also about deterrence. All your money won't get you anything special in prison, except for maybe more pairs of flip flops.

Bank Managers don’t get paid all that well. Commercial and Investment bankers do. These peoples careers are over. DNH all over their resumes. What do you do for work?

 

[Fort Fun Indiana]

Bank Managers don’t get paid all that well.

I am more speaking to the regional managers and executives. Yes they get paid very well. And the top executives either were in on it or criminally negligent.

Please stop trying to ask what I do for a living, and you can stop telling me what you do for a living.

 

[EvilCat Breath]

What was the wrong done? Bet you don't even know.

 

[AzogtheDefiler]

Bank Managers don’t get paid all that well.

I am more speaking to the regional managers and executives. Yes they get paid very well. And the top executives either were in on it or criminally negligent.

Please stop trying to ask what I do for a living, and you can stop telling me what you do for a living.

I am trying to gauge perspective as I work directly with commercial banks. Bank managers avg pay in Boston is approximately $70k per year...pittance

 

[Fort Fun Indiana]

Bank managers avg pay in Boston is approximately $70k per year...pittance

Yep. But I am not suggesting they be jailed or have their personal property confiscated. I am talking about the executives, without whose criminal acts and/or criminal negligence this large-scale criminal scandal does not happen.

 

[AzogtheDefiler]

Bank managers avg pay in Boston is approximately $70k per year...pittance

Yep. But I am not suggesting they be jailed or have their personal property confiscated. I am talking about the executives, without whose criminal acts and/or criminal negligence this large-scale criminal scandal does not happen.

There is proof the execs knew?

 

[Fort Fun Indiana]

There is proof the execs knew?

Yes, and you need look no further than the admissions of this in the settlement. But regardless, if they did not know, it is criminal negligence. Hefty personal fines and a bit of jail time would be good deterrence to executives so willing to look the other way or not put in place fraud protections to prevent this behavior.

but, they did know, so there you have it.