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 ...
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.
I actually prefer Wells to Bank America for a nationwide bank
Didn’t the Dems hold their convention in a hall named after that bank?
Just wasn’t Pennske material.
“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.
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%.
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.
I wonder if all the dead bankers the last couple of years were involved somehow in this scandal.
Wells Fargo is not the only one. Keep an eye out for more of this.
Big deal.
No criminal charges for anyone at the bank equals more corruption.
...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.
I agree. Well played, Red in Blue PA. Well played.
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.
How big is his golden parachute?
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.
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