Wells Fargo (A Bank in USA)

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earthfriendly
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Wells Fargo (A Bank in USA)

Post by earthfriendly » Wed, 21 Sep 2016 7:06 am

This bank has opened fake accounts behind customers backs. Employees were under pressure to meet that quota, unrealistically so as some branches simply don't have that kind of foot traffic. Here's a bit of the background story.
And, since it is US government policy never to send a banker to prison, they thought that engaging in criminal behavior was not such a bad idea.
http://www.zerohedge.com/news/2016-09-0 ... e-accounts

Well, well, well, he may very well be making history. The first banker send to jail for a career crime. Tell it like it is, Elizabeth Warren.

http://fusion.net/story/349042/elizabet ... ntent=link

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PNGMK
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Re: Wells Fargo (A Bank in USA)

Post by PNGMK » Wed, 21 Sep 2016 8:26 am

She's great; even thought she blasted my employer for setting up in her home town Boston (presumably because of the subsidies offered to do so). I think that banker should be hung and quartered myself; what they did was completely unconscionable.
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Re: Wells Fargo (A Bank in USA)

Post by earthfriendly » Wed, 21 Sep 2016 12:03 pm

“Wall Street won’t change until we make it clear that no bank is too big to fail and no CEO is too big to jail.” ~ Bernie Sander

Hey that rhymes. And it has a ring to it. I like it :mrgreen:

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martincymru
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Re: Wells Fargo (A Bank in USA)

Post by martincymru » Wed, 21 Sep 2016 1:19 pm

earthfriendly wrote:“Wall Street won’t change until we make it clear that no bank is too big to fail and no CEO is too big to jail.” ~ Bernie Sander:
Also old banks. Google "BSI"

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Re: Wells Fargo (A Bank in USA)

Post by earthfriendly » Thu, 29 Sep 2016 2:34 am


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Re: Wells Fargo (A Bank in USA)

Post by rajagainstthemachine » Thu, 29 Sep 2016 11:42 am

To get there early is on time and showing up on time is late

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Re: Wells Fargo (A Bank in USA)

Post by PNGMK » Thu, 29 Sep 2016 2:09 pm

Put him, his whole board and every manager involved against the wall. Confiscate every single penny of their assets and pay it back to the innocents who were fired.

Come the revolution!
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Re: Wells Fargo (A Bank in USA)

Post by rajagainstthemachine » Thu, 29 Sep 2016 3:05 pm

accountability among corporates in America does not exist..
To get there early is on time and showing up on time is late

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Re: RE: Re: Wells Fargo (A Bank in USA)

Post by ecureilx » Thu, 29 Sep 2016 3:25 pm

rajagainstthemachine wrote:accountability among corporates in America does not exist..
It exists..

Though by re-interpreting the legal mumbo jumbo, they find no laws were broken and that's how they get away with it. ;)

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Re: Wells Fargo (A Bank in USA)

Post by earthfriendly » Fri, 21 Oct 2016 9:58 am

Capitalism gone awry. Two components to this (excuse my nerdiness :mrgreen: ) .

1. Ongoing for years. You got to listen to the people on the ground such as the employees. Who already feedbacked since 2008 via Glassdoor. Same thing for the subprime crisis. Greenspan could have readily figured out how ridiculously easy it was to obtain mortgage loans. He could have worn a disguise, walked into a bank and tried applying for one. My dog might probably have gotten approved :mrgreen: . Which directly ties to my next point.

2. Blame it on our own lust and addiction to power and money. Which propels this kind of personality to the forefront. And too little weight to those on the lower rung.


https://www.thestreet.com/story/1385875 ... ium=social

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