Somebody break this place up. We don’t deserve to be in business, especially the business of keeping people’s money safe and handling financial transactions. Wells Fargo should be covered on the show American Greed. We are the poster child for corporate greed.
The American public is too busy to read and understand the full scope of the crimes, greed and mis-management at Wells, because it’s been broken up in to smaller stories spread over years. But spell it out A to Z and put it in one compact TV show or documentary?
That would turn the light on to reveal a rotten-to -the-core corporate culture. We’ve got good people working in the ranks, absolutely, but we all have been conditioned to make decisions that are in the best interests of the bank, not our customers. Or to look the other way. Because we need our jobs. And we crave those atta-boys. Make a little change here to save Wells money but will produce less earnings for a client -done. Add a worthless service there to increase customer fees-done. Move jobs overseas to save Wells money even though it causes customer service issues for our customers- good job. Stand up for the ethical high road- you’ll be reminded you need to stay positive and get on the Stagecoach or lose your job.
And yes- it is all still happening today. Possibly to a higher degree. The public will look back at 2019/2020 and say: what was the Board of Director's thinking when they paid Charlie Scharf all that money to further destroy the bank? Once again the Board stood by and watched him hire all his friends for exorbitant salaries, run the bank in to the ground, outsource American jobs and then walked away. It’s the same story being played out with different characters and slight plot shifts from all the previous transformation stories. Historical transformation? You just wait and see.
And to all the detached employees who say “Well- it has to be done, dear, just look at those terrible numbers. It’s truly the only way.” I think you’re just fine with it as long as it’s somebody else and not you.