Charlie is the same as Stumpf and Sloan - he is just a greedy horse of a different color.
Stumpf fostered a toxic sales culture which forced employees to open sham accounts on millions of customers. He knew there were problems, but he obscured and embellished the truth for years so he could keep the money train rolling for himself for as long as possible. Once exposed, he still tried to sell the idea that he was the only one who could fix it. Please. And yet he walked away with the cash, laughing all the way in to retirement.
Sloan attempted to falsely convince regulators and shareholders that the bank was transforming by launching new expensive marketing campaigns, rather than focusing on the actual regulatory work. But he did spend $42 Billion on company stock buybacks, enriching himself personally via his stock options. He walked away with the cash, laughing all the way in to retirement.
Scharf is all smoke and mirrors. He (rightfully so) criticizes our past CEOs, but he is nothing more than false promises and vague deadlines himself. Charlie says, again and again, that “Building an appropriate risk and control infrastructure has been and remains Wells Fargo’s top priority”. And yet he fails time and time again. Meanwhile he’s pulling another Tim Sloan spending $18 Billion on company stock buybacks to enrich himself via stock options. Mark my words, he’s going to keep the money train rolling for himself for as long as possible, obscuring and embellishing the truth regarding our progress on the federal asset cap. He will never successfully get us out from under it, but will walk away with the cash laughing all the way in to retirement.