Time for Thorns

An independent view on life.

Wells Fargo ripoff…

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Wells Fargo deserves  the hefty fine  it got,  though I question why the City and County of Los Angeles should be getting $50 million of it.  I realize that the large number of managers and employees involved in opening the fraudulent accounts made the scheme more difficult to uncover,  but the length and dept of the scam should tell you several things.   One,  that Wells Fargo created a bonus reward system which encouraged cheating and then didn’t monitor it very well.   Two,  the federal auditors are lousy at uncovering this sort of fraud.   Three,  Wells Fargo customers were abysmally unaware!

 

 

 

 

 

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Written by timeforthorns

September 9, 2016 at 11:57 pm

Posted in Uncategorized

Tagged with , ,

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