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Wells Fargo CEO John Stumpf retires effective immediately
Daily Mail ^ | 10/12/2016 | Associated Press

Posted on 10/12/2016 2:58:53 PM PDT by AmusedBystander

Wells Fargo's embattled CEO John Stumpf has resigned, effective immediately, as the nation's second-largest bank is roiled by a scandal over its sales practices. The San Francisco bank said Wednesday that Stumpf will also relinquish his title as chairman. Its chief operating officer, Tim Sloan, will succeed Stumpf as CEO.

(Excerpt) Read more at dailymail.co.uk ...


TOPICS: Crime/Corruption
KEYWORDS:
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To: AmusedBystander; Gamecock; SaveFerris; FredZarguna; PROCON
"I want you to have this job. Now you are aware, our entire board of directors is under indictment and is prohibited from conducting business until the investigation is completed."


21 posted on 10/12/2016 3:27:41 PM PDT by Larry Lucido
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To: Red in Blue PA

There was a rumor of a run on Chase recently. To think that wells was always the stable one looks really bad. Would Trump break up the big banks? I know Bernie would.


22 posted on 10/12/2016 3:28:53 PM PDT by DIRTYSECRET (urope. Why do they put up with this.)
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To: AmusedBystander

I actually prefer Wells to Bank America for a nationwide bank


23 posted on 10/12/2016 3:30:01 PM PDT by wardaddy (the traitorous GOPe deserves Third of May 1808 if ever a party did....)
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To: dfwgator

Didn’t the Dems hold their convention in a hall named after that bank?


24 posted on 10/12/2016 3:32:35 PM PDT by Fido969
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To: Larry Lucido

Just wasn’t Pennske material.


25 posted on 10/12/2016 3:35:26 PM PDT by FredZarguna (And what Rough Beast, its hour come round at last, slouches toward Fifth Avenue to be born?)
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To: gaijin

“He’s a POS, sure, but people are losing the ability to distinguish between different GRADES of POS’s:”

This is what you get for leaders in a secular society with:
1) No standards
2) No ethics
3) No sense of decency
4) No respect
5) No virtue
6) No God.


26 posted on 10/12/2016 3:40:49 PM PDT by Soul of the South (Tomorrow is gone. Today will be what we make of it.)
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To: AmusedBystander

You know what’s the most infuriating part of this?

The photo dynamics orchestrated by his lawyer:

They KNEW this photo would be coming, that it would be shown ALL OVER.

It was his one shot at a TINY bit of sympathy. So his lawyer cooked up the SINGLE brace owing synergy with that shot —one that would adorn his RIGHT hand, upheld for the oath.

RIDICULOUS AND TOTALLY CYNICAL.

Chance it wasn’t a lawyer trick? 0.000000%.


27 posted on 10/12/2016 3:44:32 PM PDT by gaijin
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To: AmusedBystander

like so many other establishment types, they get caught committing crimes that cost the citizens millions, if not billions, and instead of prosecution like what would happen to Joe or Jane six pack, they get off free if they agree to resign. No enforcement of the law = no law at all.


28 posted on 10/12/2016 3:47:23 PM PDT by drypowder
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To: Red in Blue PA

I wonder if all the dead bankers the last couple of years were involved somehow in this scandal.


29 posted on 10/12/2016 3:56:05 PM PDT by batterycommander (Surrounded? Stay clammed and call for artillery. USNA 65)
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To: AmusedBystander

Wells Fargo is not the only one. Keep an eye out for more of this.


30 posted on 10/12/2016 4:00:46 PM PDT by Jimmy Valentine (DemocRATS - when they speak, they lie; when they are silent, they are stealing the American Dream)
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To: AmusedBystander

Big deal.

No criminal charges for anyone at the bank equals more corruption.


31 posted on 10/12/2016 4:03:14 PM PDT by Revel
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To: AmusedBystander

...A representative for Wells Fargo said that Stumpf will not receive any severance payment....

It’s all in the way you say it...He is leaving with discounted stock options worth over 100 million dollars.


32 posted on 10/12/2016 4:08:18 PM PDT by Sasparilla (Hillary for Prison 2016)
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To: Red in Blue PA

I agree. Well played, Red in Blue PA. Well played.


33 posted on 10/12/2016 5:23:40 PM PDT by softengine
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To: softengine

I am shocked at the response people have to this. Even my wife was worried we would lose money when I told her I bought shares. The media can really whip up a frenzy with little to nothing and this is proof of that.


34 posted on 10/12/2016 5:33:57 PM PDT by Red in Blue PA (war is peace, freedom is slavery, ignorance is strength, obama loves America)
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To: AmusedBystander

How big is his golden parachute?


35 posted on 10/12/2016 6:08:05 PM PDT by a fool in paradise (Obama is more supportive of Iran's right to defend its territorial borders than he is of the USA's.)
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To: AmusedBystander
Looks like he had an "accident". Has he been exercising with Harry Reid?


36 posted on 10/12/2016 6:08:51 PM PDT by a fool in paradise (Obama is more supportive of Iran's right to defend its territorial borders than he is of the USA's.)
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To: AmusedBystander

Interestingly, he’s only retiring now that the story has been published. This didn’t just happen. An honorable man would have stepped down a couple years ago when it first happened.


37 posted on 10/12/2016 8:23:59 PM PDT by Auntie Mame (Fear not tomorrow. God is already there.)
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To: a fool in paradise
Wells Fargo CEO Stumpf walks away with up to $137.1 million.
38 posted on 10/13/2016 4:27:35 AM PDT by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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