Thread regarding Wells Fargo & Co. layoffs

The Florida resident wants to know what’s wrong with this. He does that kind of stuff all the time!

Sounds like an elaborate ponzi scheme

Go read the complaint on this. The scandals just keep on coming. And good old Sloan was directly involved in addition to other people not named in the suit. I am absolutely livid that this company keeps screwing customers and its employees. Not only do they periodically reduce benefits (like matching at end of year), they're self dealing on top of it. F the current and prior leadership of this company. They're criminals who ruined a once great brand.

Oh, and then we get emails about completing compliance training and how important it is. What a joke -- rules for thee but not me.

Bottom line is:

• Plan borrowed money to buy preferred stock at greater than fair market value.
• The price of the preferred stock had baked in the present value of future dividends
• The plan used dividends to pay the loans on the preferred stock it bought
• Because they overpaid for the preferred stock, we got fewer shares of common stock when the preferred stock was converted. Just keep screwing us more Wells.
• Wells also took dividends that are supposed to go to plan participants (!!!) and used them to pay the matching funds. Put another way, they essentially took money out of your cookie jar when you weren't looking, then handed you that money as if they were giving it to you (but it was yours to begin with).

What's worse on all of this is that any potential payout won't be that big ($1000 +/-) and nobody will go to jail. You think Sloan is going to get hurt at all? That f'er got his golden parachute.

I can't believe the leopard ate my face.

What on Earth is wrong with this bank?

Toxic is as toxic does.

@hzz+1iWUvbZA What a ridiculous argument. You’re essentially saying WF can act with impunity as long as it gives people jobs. You must have been on the side of the Triangle Shirtwaist Factory bosses when poor working conditions led to a fire ki----g their workers. I mean, they had jobs when they died! Amirite?!

Hopefully they win and Wells Fargo has to close its doors and every single employee gets laid off

Not sure what is “a shame”, other than Wells Fargo finding new ways to take advantage of their employees and violate federal laws.

I’m of the thought that we should put Wells Fargo on notice that employees will sue them every time they abuse, violate, shaft, retaliate, wrongfully terminate, harass, discriminate, or otherwise scheme to harm us.

Charlie has changed the rules of engagement by openly declaring war on WFC employees.
Hit him back with equal or greater force.

Why would Wells stop at fleecing the general public when they can also fleece their employees? The leadership is rotten to their core.

Ah, that's a shame