Search Results for: wells fargo

Wells Board swinging at each other ahead of House hearing

Ever since Senator Elizabeth Warren skillfully revealed how Wells executives used predatory cross-selling mandates to whip staff, prey on customers and pump up their personal stock holdings, the Wells Board of Directors (of which CEO Stumpf is also Chariman, let’s … Continue reading

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Employees at Canadian banks speak out about pressure to ‘dupe’ customers

When news of the Wells Fargo fraud/sales pumping culture hit last October, we reminded our readers, that this was not just a Wells story, but financial sector wide.  (See our archive of stories here).  And last week, when news of … Continue reading

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Why Buffett won’t warn that stocks are in a bubble

I’ve written about why the myth of Warren Buffett can be harmful to real life investors several times over the past decade.  See a few articles here.  I used to respect his legend, now I can’t, here’s why. In December … Continue reading

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Breaking point for underfunded savings plans

As I and others have been warning for a few years now, (here’s a list of just our most recent articles), defined benefit pensions have been planned to fail through years of under-funding by workers and employers alike. Few have … Continue reading

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Cross-selling model under scrutiny across finance sector

It’s not just Wells or Morgan Stanley…the entire sales-insaitable finance sector is rotten.  See:  “Many other banks around the country will have to review their own sales practices if they want to avoid regulatory scrutiny.” Some further insight into this … Continue reading

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Abusing our trust is the business model of modern finance

Following on the story of how aggressive cross selling requirements spurred employees to abuse customers and commit fraud at Wells Fargo, this week the Massachusetts Secretary of the Commonwealth William Galvin accused Morgan Stanley of “dishonest and unethical conduct” within … Continue reading

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