Wells Fargo chairman & Chief Executive, John Stumpf, finally stepped down and resigned after his nasty scandal came to the light.
There were no exotic financial instruments, complicated trades, or complex mortgage trickery. The bank’s misconduct was essentially simple: Employees created sham accounts using the names of the bank’s real customers, including, at times, real money; and in some cases the customers did not discover the activity until they started accumulating fees. So basically, there was some fraud taking place, on a massive scale.
The scam was so intense, that it went straight to the Supreme Court, where Stumpf played stupid… Of course. I swear politics, money, & stupidity go hand-in-hand. But this did not stop the world renowned, Massachusetts Senator, Elizabeth Warren from ripping him a new pucker during the Supreme Court discussion. GIRL! She literally became a star in my book, after she DESTROYED him. She told him that he ‘should resign & criminally investigated’, She then went on to say that “a cashier that steals twenty dollars from the register is held accountable, but wall street executives almost never hold themselves accountable.” YES QUEEN!
It’s so very sad to know that so many people have been scammed, robbed, & lied too. I mean we’re supposed to trust big companies like this. It’s true what they say, thugs wear suits and ties, not bandanas and baggy jeans.
I bring this up for an entirely different reason, though. I’ve recently seen this video, of a man who was at a wells Fargo bank with his dog. The dog barked like one time while inside, someone complained, and they asked him to leave. Well, dude was a little p****d off.
The moral of the story is, I don’t think I could take it serious if an employee told me something was against policy, whether it be,: having my dog in the building, or not wearing shoes, when they’re sitting behind the counter, playing with fraud. I really wish somebody would.
Are you a Wells Fargo banker? Just be careful, apparently you can’t trust everybody, no matter how big & shiny their counters are.