but we all know that nothing will change so long as those executives at the top who remained silent for all those years are still around.
12 replies (most recent on top)
@OMnscXb-ozvj I couldn’t have said it better myself. A bunch of snakes.
The Board Members that refuse to go are going to bring this Bank down. Regulators need to demand that they leave which will stop the bleeding. Where are they? Lawsuits left and right. The Bank is not that big. Government and Wells Fargo working together? Makes no sense. If this had happened to a coummunity bank the regulators would have taken it over already. They are not interested in protecting the shareholders or customers. They are interested on protecting Wells Fargo.
if cnbc tried to protect wells fargo (sponsor or not), then wall street would crucify cnbc. which is why cnbc wont protect wells fargo.
Promoting a woman to take the fall........hmmm. I smell disaster.
@3hsl - not sure if cnbc will give you a good picture too - we are sponsoring cnbc and we are advertising there - so they have to be considerate to their customers...
not sure what your best bet for real info is, this site helps too
if ya really wanna see how badly wells fargo businesses are doin, dont read the quarterly updates from tim sloan. instead read the financial websites like cnbc. theyll show you the real picture, not the fairytale that wells fargo senior management want you to believe as they win back your trust and the customers trust
The scary part is that the regulators want to examine all financial products Wells has offered anyone to find more fraudulent accounts. They pegged $3.5 billion dollars for fines and lawyers fees and now determined that isn't enough so it means more cost cuts, because they can't grow new accounts because they can't steal anymore through "cross selling" or "channel stuffing" and customers don't and never wanted their financial products.
thats why wells fargo senior management and board of directors are closing ranks. there afraid the truth will come out of their complicitness in defrauding american customers. the only way to get promoted at wells fargo is to prove your loyalty, not to the bank, but to senior managers. everyone turns a blind eye to stupid, illegal behavior. they had there raise yoru hand initiative for years. those who thought they were doing the right thing and playing by the rules by reporting criminal behavior were fired for their efforts. and now tim sloan wants team members to raise their hands again? fool me once shame on you. fool me twice shame on me.
Where there is smoke there is fire. With all the hiring of auditors they are finding major problems and will not disclose unless they are backed into a corner. Transparent???? Mr. Sloan needs to read the definition. They are remorseful because they got caught. They all knew about the massive Bank and did nothing about it. 1% of upper management was the scape goat the reminding crooks are running the Bank. Their settlement pay outs are a joke just like our raises. Sorry we repossed your car, we fixed your credit report and here is a check for $333.00. It is embarrsing to work for this bank. Oh by the way, Mr. Sloan did such a great job last year his annual salary increased to $12,500,00.00. Such exciting news we are centralizing a major department. I am going to inherit 2,000 employees under my lead! A major bonus for me! It is in the best interest of the bank that I get another huge promotion for wrong doing and the team members get their pink slips.
They are just recycling board members as to not allow any new fresh people so they can keep their dirt covered. I'm not sure why no one in the press has commented on that
The new board much like the old board won't do anything to jeopardize the easiest paycheck they've received in their lives. wells fargo is no longer abuot quality. its about pushing out cheap products fast. stumpf and tolstedt saw to that before they left. now sloan is just carrying on the tradition but replacing experienced employees with younger cheaper talent that dont know any better when there taken advantage of.
Wells has more dirty deeds to unmask so they better be on it. But the remainder of the board members should have been replaced.