Charlie, board, and regulators are getting impatient with the pace of progress. Company is finally starting to admit asset cap is hurting the bottom line and new risk leadership is needed.
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The comment that mentioned “no accountability for a bad job” & “the lack of actual leadership” is 100% accurate.
Pathetic leaders have always taken credit for any success on their team while blaming those below them for all and any failures.
Risk needs a massive reorg, most of the middle management not know what they are doing. Quality of their work is embarrassing. There is zero accountability for doing a bad job. Anyone who has been in risk for the last 10 years at Wells and is below M5 does not have professional exposure to know current industry best practices - most of these people need to be replaced.
Wait till the election. The new government will lift everything and the WFC stock will be $80. It is all scam that everyone in c suite is involved. See this story, bribery is everywhere
https://www.cnn.com/2024/05/31/politics/former-second-in-command-us-navy-arrested-bribery-charges/index.html
Flowers keeps telling Charlie we are making rapid progress but we can predict when these crazy regulators will let us off the hook so tell the press to stop asking about it.
@zdp+1sNRAs5X
It’s all going according to their plan
amazing we still have an asset cap and c suite still gets their millions.
It’s just a “perception” thing. Truth is we have always been cruising way below it.
Meanwhile they are laying off people in risk. lol.
The asset cap should be lowered so HY has an excuse to layoff even more people.
You mean other than outsourcing everything but the execs? Some other major changes?
the whole point of the asset cap was to hurt the bottom line
Finally admitting? Where have you been for the past 5 years. It is talked about EVERY TIME the company's performance is reviewed.
Wait a minute here. The asset cap is ruining the bottom line?!?!? This is totally new information!!! /s
Charlie & Co willfully and wantonly destroyed this company from within while everyone let them get away with it. It’s f***ing disgusting
Anything that can legally be done to spinoff the brokerage and breakup the bank should be done. Do not remove the asset cap. Ever.