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Sen. Elizabeth Warren grilled Wells Fargo’s CEO when he appeared before Congress Tuesday. The bank’s head, John Stumpf, came to Washington to answer for Wells Fargo employees who created millions of unauthorized bank and credit card accounts in the past five years. This earned the bank extra fees, of which the customers were unaware, while making Wells Fargo look like a great investment to Wall Street.
This scenario can be seen so vividly on the town, city, and state levels. Management has been negotiating with government employee unions to forgo cash raises in the short term in favor of accepting increases in pension benefit promises to be paid out over the next twenty years. It is increasingly unlikely that many cities and towns and states will be able to keep these promises.
Nice work, Chief Jon.
Silly. Should have focused on “our posterity.”
Stumpf should have said “You first.”
Very, very good Jon. It’s a shame that your scenario will never happen.
A hit, Jon, a palpable hit.
I have a particular contempt for legislators who moralize against citizens who follow the laws they, the legislators, have written — whether it’s termed a ‘loophole’ or otherwise.
That and candidates and elected Federal officials who declaim loudly about CEOs and board members and their compensation and perqs.
And how many Vets died waiting for care Pocahontas ?
Great work Jon! Excellent first draft of “Taxpayers vs. Warren,” modeled on the show trial Senator Warren conducted yesterday.
Now, add some self-righteousness to the Taxpayer script. Also, make sure it is shrill, dripping with vitriol, and that it oozes condescension.
Like this:
You just overlooked one thing, Jon. John Stumpf did announce that he was accountable.
Elizabeth Warren never has.
Today is the first time in a long time that I read and enjoyed THREE consecutive posts from my member feed.
Thank you for giving us hope. Now, how can we make this legislative inquisition begin in real life?
She was good, though, wasn’t she? At least until she called for more legislation.
Well done Jon. My guess is those counties, which I think contain some of the wealthiest zip codes in the nation, are either reliable Democrat counties, or at least vote more Democratic than in the past.
I guess all those Wells Fargo LGBT commercials and active outreach didn’t buy them much good will from their fellow lefties.
Not a bad living for a Native American with high cheekbones.
I kind of agree with her and I don’t think conservatives should be excusing fraud. I don’t really care about her hypocrisy or double standards. Wells Fargo has apparently committed fraud on a mass scale. She was unfair, because she didn’t let him talk, and that reduced the impact. But, why are so many of us defending this guy?
I don’t have the impression that anyone was defending him.
Speaking for myself, Warren was grandstanding for her political crusade — a Leftist agenda that extends far beyond the subject of the hearing.