Wells Fargo Settles For $3,000,000,000 and All I Got Was This Lousy -- Nothing!!!
The Notorious Banker
English - February 26, 2020 06:02 - 47 minutes - 43.7 MB - ★★★★★ - 54 ratingsBusiness Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Wells Fargo made up for a decade and a half of treating it's customers like crap and overselling accounts, and creating phony accounts to hit their sales goals by giving those customers absolutely nothing, and giving $3 Billion to rich people who invested in it, and the United States Treasury.
I'm sure looking for a positive in all this, but I can't think of one.
Wells, who pushed their bankers to the brink of a nervous breakdown, called them names, and overall just made a mockery of banking, got off relatively light, and without a sincere apology
News Release from Wells Fargo Here
My podcast breaks down how goddamn nerdy their news release was, even renaming the scandal to make it sound like some rite of passage. I talk about how some of their past ways of "making it up" aside from the money are facetious, and hell, even make Bank of America look better by comparison.
I then break down how a random media source covered it. I picked NPR
No political bias or anything...It was literally close my eyes and point. I talk about how we as consumers and how I, as a former banker look at this scandal and can't help but chuckle at how surreal it is. Wells Fargo give 10-figures as a result of this, and you, Mr. or Ms. Listener don't get a damn thing, unless you are a significant shareholder. Sucks to be you-- I mean all of us :(
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