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Wells Fargo Announces $60 Million Clawbacks, But No 'Real Accountability'


#1

Wells Fargo Announces $60 Million Clawbacks, But No 'Real Accountability'

Andrea Germanos, staff writer

Wells Fargo, according to Sen. Elizabeth Warren (D-Mass.), took "a small step in the right direction" when it announced Tuesday that it was clawing back $60 million in pay from CEO John Stumpf and Carrie Tolstedt, the former executive who ran the fraudulent program.


#2

'According to Bloomberg, he "plans to offer House lawmakers the same apology he gave Senators last week."'

What more can we ask of this selfless server of the people?

Mother Teresa herself would have envied his humble good nature.


#3

They will be laughing all the way home from the bank !


#4

This is front page news! Its nice to see some house members call this what it is--criminal acts-the CEO along with the board should be in jail-----and it should be for a long long time. Its amazing how we see things in this country----your rich you pay a fine--your poor,your considered scum and go to prison and never given a second chance-------A CEO should be setting an example,A CEO should be held to a higher example not lower.

This is such a powerful example of the two tier system of justice in this country.

But what's even more insane is that the media discuss $125 million dollar or$ 40 million dollar bonuses as if these dollar amounts are acceptable-------No one is worth these bonuses-these are outrageous amounts of money. Dick Cheny got an 8 million dollar bonus(payoff) when he left Haliburton-that was outrageous-------I cannot understand how these payouts are just accepted.

Just like the minimum wage there should be a ceiling on the higher wage.


#5

"A prize fighter in a corner is told, 'Hit where it hurts'
Silver and gold"

U2


#6

Dem Rep Owen Moore is upset that the wellsFargo CEO had to give up $40 million----she is so glad that he drained the swamp by firing 5000 employee's--------who votes for this kind of person??????????????????CLEAN THE SWAMP OF CONGRESS!


#7

Steal 60 million$ inside the bank, which uses the euphemism: " white collar crime" and receive no jail time or accountability, but rob the same bank from out side and steal a comparative pittance and you receive jail time.

CEO John Stumpf and Carrie Tolstedt need to be incarcerated and made examples of for their nefarious and criminal behavior; otherwise, nothing will change and other white collar criminals will have little incentive to not try the same robbery because they know the worst that can happen, if they get caught, is they will be subject to clawbacks.