{"id":181137,"date":"2016-09-20T17:47:00","date_gmt":"2016-09-20T22:47:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2016\/09\/20\/elizabeth-warren-gets-added-to-my-list-of-people-i-do-not-want-to-piss-off\/"},"modified":"2016-09-20T17:47:00","modified_gmt":"2016-09-20T22:47:00","slug":"elizabeth-warren-gets-added-to-my-list-of-people-i-do-not-want-to-piss-off","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2016\/09\/20\/elizabeth-warren-gets-added-to-my-list-of-people-i-do-not-want-to-piss-off\/","title":{"rendered":"Elizabeth Warren Gets Added to My List of People I Do Not Want to Piss Off"},"content":{"rendered":"<div style=\"border: 1px solid black; float: right; margin: 0px 10px; padding: 5px; text-align: center; width: 330px;\"><iframe loading=\"lazy\" allowfullscreen=\"\" frameborder=\"0\" height=\"180\" src=\"https:\/\/www.youtube.com\/embed\/K8HfGAx8coE?rel=0\" width=\"320\"><\/iframe><br \/><i>Oh, Snap<\/i><\/div>\n<p>Wells Fargo has been <a href=\"http:\/\/www.nytimes.com\/2016\/09\/17\/business\/dealbook\/wells-fargo-warned-workers-against-fake-accounts-but-they-needed-a-paycheck.html\">coercing low level employees to create accounts without customer&#8217;s knowledge<\/a>.<\/p>\n<p>Wells has fired over 5000 low level employees over the criminogenic environment created by upper management.<\/p>\n<p>They mandated cross-selling 8 accounts per customer when the industry norm is less than 3 accounts per customer<\/p>\n<p>The manager of the division, Carrie Tolstedt, was <a href=\"http:\/\/40yrs.blogspot.com\/2016\/09\/no-accountability-ever.html\">allowed to retire with a $125 million wet kiss from the bank<\/a>. <\/p>\n<p>Well, the CEO of Wells Fargo, John Stumpf, was called before the Senate Banking Committee, and <a href=\"http:\/\/www.motherjones.com\/politics\/2016\/09\/sen-elizabeth-warren-tears-wells-fargo-ceo-john-stumpf\">Elizabeth Warren gutted him like an overfed mackerel<\/a>:<\/p>\n<blockquote><p><span style=\"color: blue;\">The Senate Banking Committee conducted a hearing Tuesday about the massive scandal currently engulfing Wells Fargo. The word &#8220;fraud&#8221; was used repeatedly by senators on both sides of the aisle when describing the bank&#8217;s creation of millions of unauthorized bank and credit card accounts for existing customers.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">\u2026\u2026\u2026<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">Massachusetts Sen. Elizabeth Warren\u2014a longtime advocate for more stringent regulation of Wall Street\u2014tore into Stumpf, describing the unauthorized accounts as a &#8220;massive, years long scam.&#8221; She asked Stumpf what he has done to take responsibility for his bank&#8217;s actions. &#8220;You have said repeatedly, &#8216;I am accountable,'&#8221; she said. &#8220;But what have you done to actually hold yourself accountable? Have you resigned?&#8221;<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">Stumpf avoided answering the question directly, prompting Warren to repeat her question, her voice rising, at least three times.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">Warren proceeded to pummel Stumpf with more questions. &#8220;Have you returned one nickel of the money you earned while this scam was going on?&#8221; she asked. Stumpf evaded the question several times. (Stumpf said earlier in the hearing that he earned $19.3 million last year.) Finally, an exasperated Warren said, &#8220;I&#8217;ll take that as a &#8216;no.'&#8221;<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">She then asked if he&#8217;d fired any members of his senior management. Stumpf initially began by describing the firing of regional branch managers, but Warren stopped him, emphasizing that her question was not about low-level leadership but about the people at the top. Again, Stumpf&#8217;s answer was no.<\/span><\/p><\/blockquote>\n<p>She then went on to note that Stumpf had earned an additional $200 million in stock options from the stock appreciation largely driven by their absurdly high cross-selling numbers.<\/p>\n<p>She really took the bark off that asshole, and it is a true thing of beauty.<\/p>\n<p>Watch \u2026\u2026\u2026 the \u2026\u2026\u2026 Video.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oh, Snap Wells Fargo has been coercing low level employees to create accounts without customer&#8217;s knowledge. Wells has fired over 5000 low level employees over the criminogenic environment created by upper management. They mandated cross-selling 8 accounts per customer when the industry norm is less than 3 accounts per customer The manager of the division, &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[770,761,777,892,849,828],"class_list":["post-181137","post","type-post","status-publish","format-standard","hentry","tag-congress","tag-corruption","tag-finance","tag-people-i-do-not-want-to-piss-off","tag-video","tag-win"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/181137"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=181137"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/181137\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=181137"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=181137"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=181137"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}