...yeah, according to the article they fired 5300 employees...needless to say, that's a BIG deal. But you just know there were more higher ups in management who knew what was going on...no way 5300 people can keep a secret.
Couldn't happen to a nicer Bank. Kind of sad when ya' think of its history, running gold bouillon b/t Vegas and San Berdoo, with Wyatt Earp literally riding Shotgun. His last job of his life. I despise Wells Fargo and Bank of America more than any two banks, and have for decades, due to very poor and fraudulent practices, one incident with both banks,.... I am not too shocked, more shocked they finally got caught.... The Feds will be keeping a Eagle's eye on these frauds....
Have to say I have banked with Wells 25 years and never had an issue between personal and business accounts. That said, they could single handily resolve the illegal immigration issue in CA as the preferred bank of the undocumented renter/home owner.
I guess there is some truth that banks are the whores of America! Looks like finances will come full circle..............and Trump gets a free ride!
...figured it was only a matter of time before the other shoes started dropping...like I said before, no way some WF executives didn't know what was going on. http://www.businessinsider.com/well...enate-baking-committee-hearing-scandal-2016-9
well the ceo claims it wasn't from his level, and that's likely to be completely true. this is the problem with the current practice of "matrix organizations". there are these push/pulls for setting goals and open you get these competitions between directors and vps. somehow one or two levels down from the ceo people are setting unreasonable expectations and that's where morality and ethics go completely out the window. and these directors and vp's know this and they set up the process so that they don't need to know the solutions, they only track the results and KPIs. plausible deniability all around. as mgmt, you don't get entrenched in weeds of finer details, lol! Of course WF leaders didn't know that all these sales targets and fees targets were be achieved bogusly, they set up the system so they didn't need to know the details.
...I didn't say anything about the "CEO" by name, I merely posted a link about the fiasco......but the CEO should be charged with criminal stupidity. ...this scandal goes higher than the Reps who were already fired...like I said, all of the shoes have not dropped yet. ...Wells Fargo has a very serious problem on their hands. This is a PR nightmare.
...I doubt any of this affected current customers but it will damn sure affect quite a few possible future customers when deciding who to do business with.
Can't believe that women top executive was allowed to retire taking with her 125 million in bonuses based on fake sales. There better be some serious clawback on that. And the CEO clown who hat there yesterday like sgt schultz will be rightfully fired in a couple of weeks to a month. When companies make bonuses dependent on certain types of sales whether good or bad for the customer this is always the shit that happens though usually not at this high level.
http://money.cnn.com/2016/09/22/investing/wells-fargo-ceo-john-stumpf-200-million/ http://www.huffingtonpost.com/entry/wells-fargo-fraud-republicans_us_57e4192be4b0e80b1ba0d583
Ya' know when we were in Perry, Ga. Our eldest 17 yr old son, refused a scholarship to Wesleyan in Macon; so he could go fk around in Jersey and live with his grandparents, (in Totes Hometown). To make a long story short, once out of our hands, he quickly became the hoodlum (he couldn't be or get away with in Ga, under our care). Prior to moving to Ga, our Son was a CA.-All State 3rd string; 3rd baseman, as a Soph in So. Cal. In Perry we watched his grades plummet, where he could not play baseball in Ga. or anywhere for that much. No doubt I knew he could take GA All State I or II. What a heartbreak, wasted opportunity... He moved to Jersey, befriended a Bank Mgr. Both cahooted to open 2 fraudulent credit card accounts, under our youngest boys i.d. & name, which he had stolen mos prior; during a vacation back here, un-beknownst to us at the time. Tho' the youngest son thought he lost his wallet, little did he know it was stolen by his own half-brother. Within 6 mos we started getting calls of the youngest owing the bank in Howell, NJ 50 grand. He had never stepped foot in NJ, as I told the bank and FBI, how the hell could he open an acct, when he had to be in NJ in person, show his SSN, I.D., place of residence in Jersy, yet had never been there. The eldest got a 10 yr sentence, got out after 4 yrs, with a 2 yr old, and 6 yr old, left fatherless over those yrs. He seemed to off reformed, after his stint, of course by finding Jayzus. Why the weak follow headlong to their own karmic demise, ...The bank Mgr. got 20 yrs, and served 10 for good behavior, bet he found Jayzus too....! The point, if one person affiliated with this fraud walks free or gets less than 20 yrs or more, then justice will not be served. Their is no doubt we have a judicial/penal system for the rich, one for the others.... We're talking millions of accounts, and multi-millions in $$$; and 100s of peeps within WF?? instead of 2 guys, 2 accounts...50 grand in lieu of 100s of millions. Tho' not tied to the bigger WF Scam, no doubt its employees corrupt mind set. So many sheep led to slaughter..... bbaaaaaahhhh!!!
again, sorry for the novel... I feel like this WF crap not only effected me 3 yrs ago, after having numerous errant penalties on my account, that were not legit. 2ndly- crime on an epic scale, warrants epic prison sentences,...
...Matts, I place bankers in the same category as most lawyers and politicians. ...and there's no need for you to apologize for the length of your "manifesto".
Geezus, b/t American Home Loan Mortgage mega collapse, the US Auto bailouts, AIG and tons of other fraudulent fortune 500 Corps, incl. Enron's Fiasco..... this nations fortune 500 companies, have got to be batting around 50/50 as the most fraudulent billion dollar con's, thefts, inside pilfering, this nation has ever seen. No wonder so many people call this nation's Govt., Politicians, and many CEO's, (as well as the Corp's they represent). out to be corrupt to the bone... with no hope in a future....?
