Wells Fargo blames "computer glitch" for its improper foreclosure on 545 homes


#1

Originally published at: https://boingboing.net/2018/12/06/house-thieves-in-suits.html


#2

Is there not some equivalent of capital punishment for corporations? I mean, they are people, right? How is it that these “people” are not held responsible for their own misdeeds? Oh, right, rich white dudes… :rage:


#3

If the computer hadn’t glitched up we could have hit a 1000!


#4

With so many “unfortunate errors” more people should run to withdraw their money from this bank until it’s hard a chance to sort things out.


#5


#6

If we screw up once, it was a glitch and binding arbitration.
If we screw up twice, it was a mistake and binding arbitration.
If we screw up a bunch of times, its systemic, pervasive, and binding arbitration.

Trust Us!
Value…vision…goals…binding arbitration.


#7

Once again, we get the shit version of the future today.


#8

Take them at their word: It was a glitch.

The deduction from this is that they are criminally incompetent and should be nationalised, with no recourse available to the criminally incompetent former owners.


#9

But would putting Wells Fargo under the control of a government run by Donald Trump really be an improvement? :frowning:


#10

This is not entirely ironic. The mass foreclosure fraud happened on Obama’s watch, and he refused to do anything about it, with Hillary also refusing to discuss it. I know the Republicans are immeasurably worse than Democrats on the issue, but I have a hard time faulting someone for not knowing.


#11

It was meant to be a generality, to be applied to any entity that repeatedly screws up on a grand scale… A play on the “fool me once” proverb with binding arbitration.

As far as nationizing, in the U.S. banks aren’t nationalized, and I wish I could remember the podcast that best explained what happens when the U.S. government is forced to take over a bank.

I met somebody that was a forensic accountant during the last great chain of bank failings. I also had volunteers that worked for banks. The first thing they do, beyond freeze everything, is guarantee the employees are going to be paid. Then there is this magical USB dongle that goes to work unlocking, copying and securing the bank systems. If memory serves right, a private auction system is used to sell the bank to another solvent bank as quickly and with as little fanfare as possible.


#12

Here we go again.

There is no such thing as a “glitch”. “Glitch” (like “bug”) externalizes the problem to a non-existent “glitch” entity.

What we have here is a computer failure, caused by humans creating faulty, unreliable computer systems.

When a bridge fails and collapses, we don’t blame a “glitch” – we rightly blame engineers, inspectors, and bureaucrats.

Same with a computer system: when it fails, the responsibility lies with those who commissioned the system, and those who created it.


#13


#14

My version of this would be to jail the execs. Not just 6 months in the golf club minimum security place, but serious time, like 10 years and up from there. Risk vs reward. They’ve been rewarded by taking such risks. Risks turned into a shitstorm, now face the consequences.


#15

Prove it. Show us the unhandled exception or the routine that incorrectly denied the applications.


#16

Ten years at breaking rocks.


#17

I think that they should simply be stripped off all assets and made homeless. After all, the poor are only poor because of their bad decisions, right? Surely the rich should suffer the same fate for their bad decisions. It is what Jesus would do.


#18

Adding (for emphasis) up to now

Because if there was ever a bank that needed to to be the very first and have its current management thrown in jail it’s Wells Fucking Fargo


#19

Because you can’t fire, fine or imprison a glitch.


#20

When is it a glitch, and when is it a feature?