A disturbing news of 5300 Wells Fargo employees being fired for creating fake customer accounts. A large fine was imposed on the company but no criminal indictments as yet. Why is the CEO of this company still there? And getting over $6 million salary?
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Yes, so true. What gets me is the fine goes to the government. What about the poor victims of this criminal activity? Shouldn't they get the refunds?
Tamara, you left out, the same way all the bank and brokerage CEOs who actually caused the crash of 2007 evade prosecution, the federal government hacks like Lerner and Koskinen. They all evade prosecution because they are the "ELITE!"
The one good thing is that Warren Buffet took a sizable hit to his fortune and so did his foundation. The DOE shuts down schools when they don't meet req. Why doesn't the DOJ, and the IRS shutdown Wells Fargo?
Welcome to unfettered capitalism. This is what happens when you don't have any regulations to prevent corruption and greed. Those that don't like regulations, say that capitalism is self-regulating. Tell that to those who got ripped off.
Mike, there is plenty of regulations on the banks. The problem is, the regulations does not prevent people from doing criminal acts. Especially when these white collar crimes are not prosecuted. Let's just apply the laws to these CEO's and see...