Remember back in the 80's when GM, Ford and Mopar couldn't make good cars? And the Japanese were flooding the market with better cars?
Take GM as an example, GM was so moribound - they would hire new talent right out of college. Yet, that new talent...had to succumb to the existing polices and procedures. Committees and boards, many multiples of management layers. And after a time, that new talent was now no longer effective in driving change or new designs. GM had so many byzantine layers of management....even new CEO could not fix it. Nothing could. Until.....BK. Then, the management layers were fired, and innovators, new designs, and new technologies could advance. After BK, the new GM was a success.
Now look at Wells Fargo. See any similarities? Hmmmmm, lets see. Moribound management...many layers with no vision. New employees hew the line or they are out! Even the new CEO has no clue. Spans and Layers he says. Except....he'll still end up with the worthless layers of bla bla bla managers who s— the life from the company and follow their own agenda....like they always have. But, who is let go? The rank and file, the ones who had bright ideas, visions and expertise to make WF different.
At the end of the day, perhaps only a BK would let WF right the ship, fire all the worthless layers, and finally prune the company down to real workers and drivers that will engender new technologies, new methods of doing things, new and better service to the customers. Sometimes, something is so broke, it can't be fixed. Dump it out and start over. It worked for GM. What about WF?