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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Personal prosecution of finance executives and directors necessary

News yesterday that the Wells Fargo board voted to clawback a further $75 million in bonus awards from two former senior executives who it says were largely to blame for driving a culture of fraudulent sales activities.  Still, it is … 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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