Thread regarding Wells Fargo & Co. layoffs

OMG! Legacy WF is getting all the blame. Let’s not forget all those former Wachovia team members who lost their 401(k)s. WF caught a virus called, Wachovia.

@1jop+1jhtIH65 JFC some people need to lighten up. I guess you expect the whole history of the world to come rolling out when anyone makes a comment in a specified context.

Post ID: @1hdb+1jhtIH65

I don’t disagree with you on some of your points. Wells Fargo’s problem was that it affected so many customer accounts and continued unchecked for years. And then they tried to minimize it. And then the execs did not want to take responsibility. Then they fired Whistleblowers. And then more examples of mismanagement and lack of oversight continue to come to light, even in 2022. They were even shafting their employees on what was supposed to be a benefit: our 401Ks. Are you okay with that?

And Wells Fargo has not been able to provide proof that they have righted the ship according even to Charlie in September. He seems much more focused on cutting costs than improving compliance.

But I’m with you in that I’m up for punishing all financial institutions who let greed get in the way of ethics. Start sending the execs to jail and I will throw a party.

@1umx+1jhtIH65

US Bank was just fined by the CFPB for opening sham accounts and pressuring employees with quotas. Where’s their asset cap?

https://www.consumerfinance.gov/about-us/newsroom/cfpb-fines-us-bank-37-5-million-for-illegally-exploiting-personal-data-to-open-sham-accounts-for-unsuspecting-customers/

Regions Bank was just fined for its second illegal overdraft issue in the past decade. Executives knew about it. They pay a fine and no one cares. No asset cap.

Other banks scammed millions of people by manipulating libor and all the loans based on it. Fines. No asset caps

Other banks write toxic mortgages, cause an economic meltdown, and then need TARP money (Wells tried to turn it down). Fines. No asset caps.

The fake accounts thing was in 2016? All the execs walked with basically a slap on the wrist. To this day, there are people at Wells who had nothing to do with it who can’t do more for the bank (and themselves) because the asset cap.

The people who own Wells Fargo probably aren’t even the same people who owned it when this came out. Warren Buffett finally gave up on us and sold all his stock.

Consumer abuses should be punished, but Wells Fargo has been punished way worse than others. Politicians know banks are important. They can’t put asset caps on all of them. They even waived our asset cap during Covid so the economy wouldn’t further grind to a halt, and we went so far to donate all the money we made from that to the kinds of causes people like Elizabeth Warren care about.

When will all the other banks get treated like Wells Fargo? Otherwise this isn’t about justice or punishing wrongdoing, it’s about selectively picking a whipping boy and going after them nonstop for appearances.

@1eaw+1jhtIH65

lol, wow, you really buy into false narratives. Good to see that the party of slavery, Jim Crow, segregation, and the Confederacy has effective PR. Always looking out for the little guy. LOFingL.

Post ID: @1cjv+1jhtIH65

Respectfully - I don’t understand your take: sounds like your standing up for the criminal and chastising those who try to keep the criminals in check?

Let’s say your next door neighbor keeps finding different ways to steal from you. One year he breaks in to your house and cleans everything out, next year he takes both your cars, the next year he says he’s changed and won’t do it again, then the next year he gains access to your accounts and cleans them out, the next year he runs up a bunch of charges on your debit card, the next year he gets fined and does community service, then next year he steals your identity and ruins your credit, etc.

Are you offended that the police are trying to help you and shut this guy down? Especially if they are of a certain political party? Do you think they “just need somebody to yell at so it makes them look like they’re pro-citizen anti-crime””? Do you want the DA to stop trying to prosecute him because “ the DA has made a name for himself by yelling at the thieves”?

Just wondering if the picture changes for you at all if you personally are the victim of the crimes.

I wonder why CNBC posted that 19 hours ago. Almost none of the information is new or even noteworthy at this point.

What kind of sandwich was it?

If you can’t get the asset cap removed, then he’s over paid in my opinion. Let’s not forget, he was the only individual who wanted to be CEO. I don’t recall anyone else stepping up to the plate. Who wants to be the replacement captain of a sinking ship?

Charlie is a joke pretentious, fake, but then again, probably the reason he got to be where he is… don’t forget that this clown makes 23 million dollars a year! I don’t believe he will make ant changes that truly matter… he got the salary he wants without any effort.