Wednesday, September 14, 2016

$125 mil to Good-bye for Wells Fargo Fake Account Exec

Did the person in charge of the division generating fake accounts for bonuses head to prison?  No way, these are bankers!    She got a $125 million bonus herself!  This from ZeroHedge:
Wells Fargo’s CEO John Schtupf said Tolstedt had been one of the bank’s most important leaders and “a standard-bearer of our culture” and “a champion for our customers."    
Why didn't I think of banking?!  If you lead a division ripping off customers then that is championing customers and setting cultural standards.

If you want this to end, you must deregulate banking.

Feel free to forward this by email to three of your friends. 


Anonymous said...

It always puzzles me how these crooks get away with barely a slap on the hand. This is just one in a long line of thieveries such as the JP Morgan "London Whale", CEO Jamie Dimon scandals (yes, scandals). These guys get fined & then they get bailed out before they go back to their usual shenanigans. Meanwhile someone that committed a "blue collar" crime gets life in prison for getting caught with weed for the third time.

Anonymous said...

Banks and bankers have lobbyists and make substantial campaign contributions. They also provide a lucrative exit strategy when a politician wants to leave government and make more money.