I hope they continue to terminate, lay-off, and sodomize all of the WF c---roaches that have scurried off into various corners of the bank.
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There are no good guys in this mess. Break up the banks.
I know a lot of people from Wachovia that are great people. The bottom line is Norwest was a regional bank who acquired Wells Fargo, kept that name and then grew too big too fast. The acquisition of Wachovia made it burst at the seams. World Savings as well as First Union who were acquired by Wachovia previously were the toxic mortgages that were part of the deal. I think all mortgages that were made when mortgage business was booming is a lot of the problems. Originations were too lax and mortgage companies were more about volume and not quality. The things I have seen working on the REO side, working to clean up vestings and title issues and more showed me that. My hope is that while WF is currently reorganizing and fixing issues, those things will get resolved and then WF can emerge a better place. However, much emphasis has to be done about employees. Show employees that they matter and stop making the majority of people pay for others wrong doings. Benefits s--- now. I have almost 15 years there and have seen it go from happy employees to employees that don’t care and just does what is needed and not anything more because employees no longer feel their efforts are appreciated. The changes going on now is transferring all the work to venders in lieu of working together with vendors for a resolution and vendors time frames are ridiculous. Accountability of the vendors needs to be more worked on. Still a long road ahead of them.
Say all you want the fact of the matter is WF leadership has been and continues to be terminated (see stumpf/Sloan) and Wachovia leadership (both current and former) are taking over.
WF is a scandal riddled dump of a bank in the Public eye and a joke in the industry.
Pick a Pay loans made Wachovia go "belly up".
Norwest destroyed Wells Fargo by bringing in all the riffraff management who were concerned with cross selling leading to the account fraud scandal. Wells Fargo destroyed itself by now having more Wachovia customers to cross sell to exacerbating the account scandal. And inheriting the largest number of toxic mortgages of any US bank.
No, pick-a-pay loans are the reason Wachovia people are going down with Norwest.
Obviously someone trolling, but a pretty funny statement purportedly coming from someone who was a part of the company that was bought out by WF to survive. I think it's pretty clear at this point there is no high ground to be found in this debate.
No, Wells Fargo had their own problems. To the point they couldn’t afford to take on more problems like Wachovia.
Many of you WF loyalist seem to be getting the loan issue confused with the blatant criminal behavior of lower level employees at the direction of DMs and above via fear and intimidation efforts. With comments like these isn’t No wonder that company is f---ed up.
There are plenty of legacy Wachovia folks in prominent positions. In my experience, the acquisition of Wachovia was the beginning of the end, when Wells got way too big for its britches. A lot of the processes and loan products that came with Wachovia were absolutely awful, but some of them still exist.
And the criminals continue to do what they do best. Yes, this was clearly Wachovia’s doing. mo--ns.
http://www.mercurynews.com/2019/04/15/wells-fargo-knowingly-helped-ponzi-scheme-lawsuit-claims/amp/
Sure Wachovia people were the real culprits. Had nothing to do with WF.
Truth be told, WFs name was taken and b--tardized by norwest bank. They were the ultimate eight is great scumbags
I'm sorry but a lot of the leaders in place right now in some divisions are from Wachovia. Wells Fargo should have never made that acquisition.
The Wachovia people are just as bad they were involved in money laundering and had the most toxic mortgages that's why they were bailed out by the government and bought by Wells in a fire sale.