Watch Wells Fargo CEO John Stumpf get raked over the coals by Congress


#1

Originally published at: http://boingboing.net/2016/09/29/watch-wells-fargo-ceo-john-stu.html


#2

Worse, at the end of it he had to go home to his millions of dollars.


#3

Does anything really happen to these people who have to testify before Congress? I’m thinking of Dr. Oz, who was at least pressed to say a few humbling things, but is still around giving checkups to Trump.


#4

Note: the Wikipedia article linked below is not pleasant reading.


#5

Indeed, why shouldn’t they be in jail? A dressing-down in the halls of Congress, however severe, is no substitute for criminal prosecution.


#6

guess he’ll just have to sulk back to his giant mansion and cry in to his huge pile of money…


#7

I’d be pretty angry too if my pelt was infested with bedburgs.


#8

Happy that US tax dollars went to bail out Wells Fargo.

[note sarcasm]


#9

So the total fine was $187.50 per fake account?


#10

I like how even the representative from NC was able to rip into him here. The bad shit constantly happening here needed a tiny bit of counterbalance.


#11

co-inki-dink


#12

I liked the ending… “Now that’s over, how about we all go out for steaks and ice cream?”


#13

Isn’t it funny how some of the people who are attaching him most fiercely are the same ones who are constantly trying to remove all regulation and oversight from the banks.


#14

I guess I might be missing something here but why aren’t we hearing more from Carrie Tolstedt seeing as how she had worked for Wells Fargo for some thirty years (?) and just happened to retire before all this new broke? Come on, man, I want some of these dominoes to fall hard!


#15

Well yeah, it’s his fault he got caught. Guys like that will ruin everyone’s good time.


#16

Ya, Duffy is one of them trying to gut the Consumer Financial Protection Bureau…
ReportGOPAttacksOnCFPB_2015.pdf

Edit: A nice summary:

The late Senator Warren Magnuson used to say that in Congress, there were show horses and work horses. While Duffy got his scalp today, and made a good show of it for the FOX audience, his attempts to weaken consumer protection vis a vis the banks undermines his moral outrage. But it looked great on camera.

#17

Wells Embargo


#18

There’s literally nothing for Congress to lose by taking out their frustration on a dick like this guy, still sporting his license to steal. But they aren’t going to actually DO anything. They won’t expand citizens’ ability to sue banks, won’t suspend these EULAs that prevent documents showing the guilt of major companies from ever being in the public record, won’t kick out arbitration clauses, or expand damages awards or authorize ongoing probes into the “too big to break up” banks. Because while they’re screaming at one bank, they’re taking millions of dollars from others. They may look righteous, but they’re righteous shills.


#19

You know, this is just hypocritical bullshit. They’re yelling at him, when it’s their fault for not doing something about it. Just like with the pharma execs.


#20

call me to watch when he’s going to jail