Wednesday, September 21, 2016

Damaged Goods: Wells Fargo has one heck of a scandal on its hands

820,958 @ 7:57 pm

Wells Fargo has one heck of a scandal on its hands - former place of business of Medford's infamous "Uncle Bob"

Wells Fargo CEO John Stumpf endured a nearly three-hour questioning from the US Senate banking committee on Tuesday. 

Stumpf was constantly taken to task by senators, both Democratic and Republican, for the scandal in which Wells Fargo employees opened roughly 2 million checking and credit accounts without customers' knowledge.

 

http://www.businessinsider.com/wells-fargo-john-stumpf-scandal-fake-accounts-perfect-storm-2016-9 

 

Democrats like Elizabeth Warren, who called for Stumpf to be criminally investigated, and Republicans like Richard Shelby, who said that the bank has seriously broken the public's trust, both seemed to be in agreement (to varying degrees) that there was significant wrongdoing at Wells. 

Senators also spent a significant amount of time reading letters from constituents about the effects of the scandal on their own lives, which not only looks bad for Stumpf and Wells Fargo, but also allows the politicians an easy opportunity to prove that they are working for the people who elect them. 

UNCLE BOB

 

UNCLE BOB
UNCLE BOB
UNCLE BOB
UNCLE BOB
UNCLE BOB
UNCLE BOB

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Robert A. Maiocco, Jr.
Wells Fargo Phony

Despicable City Council President in Medford

Now no longer at either venue