Thursday, September 22, 2016

A brief rant on the Wells Fargo Scandal

5,000 people lost their jobs because they had scruples. The shareholders were bilked, and it is very likely the woman behind this (with a $100MM retirement package) and Mr. Stumpf will not get anything more than U.S. Senator Elizabeth Warren 's indignation. These people should be stripped of their ill-gotten gains, and the money redistributed among the people who lost their jobs or got bilked. Did I mention Jail time and community service? We should help them get back to their stated values with enforced personal contribution.

Sadly I don't believe they will get anything more than the admiration of "(envious) Wanna be CEO'S" and will get bonuses for coming up with a coupon for a free bank account to "compensate" those wronged.... (Sigh)....My money will not be in any WF accounts, and I am checking my investments to distance my funds from these crooks. The Board at WF should be doing a management purge, although the exec's would all get big compensation packages if let go.