Wells Fargo gives its CEO a $4.6m raise on flat earnings and more scandals

Originally published at: https://boingboing.net/2018/03/15/son-of-stumpf.html



Late stage capitalism. People as crass and greedy and these should be publicly executed. Make it plain and simple that if you screw the public, you will get your just reward… death, not a multi-million dollar payout.


Suggestion, any time WF is mentioned in the media it should be as “Flagrantly evil corporation Wells Fargo…”

I mean, evil is not so uncommon among corporations, but WF takes it to the next level.


Wells Fargo gives its CEO a $4.6m raise on flat earnings and more scandals because we still haven’t heard about the actual scandal yet.


I’m thinking we should call this the “Because we can…So fuck you” era.


“Sloan boasting that not one cent from the Trump tax breaks would go to investment or Other people’s wages.”

—Fixed that for him.


Twenty years ago I could see that CEOs and their enablers were taking the piss with their bullshit about actually being worth millions.

It fills me with rage, despair and embarrassment of my species to think that anyone was sucked in for a moment, let alone entire societies for decades.

Fucken guillotines. Now.


Well the people that they convinced were boards of directors. And they’re largely ex-CEOs or wanna be CEOs. So it’s foxes convincing foxes that the hen house needs no door.


Sloan’s performance goals back in October must have been set really, really low.

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This is pretty much what i was thinking. As scummy as the CEO might be the raise was approved by the board of directors so criticism should also fall on them,

Also i have avoided banking with Wells Fargo, they and Bank of America are awful.


The fact that people still are using Wells Fargo for their banking shows the sad state of the American “thank you sir, may I have another” conscience. This bank should have been seized the moment that it was found out that they had created thousands of false bank accounts under client’s names and then charged those clients fees. This institution needs to go and the CEO (current and past) needs to be in jail and not receiving a multi-million dollar raise.


a farcical “reparations” program for defrauded mortgage borrowers that was calculated to be thrown away with the junkmail.

This is so brilliant! Make it look just like Publisher’s Clearing House!

No, i mean bad. It’s bad.

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A couple of months ago I read a great comment about renaming the Republican health care plan to “Repeal and go fuck yourself”

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Corporate boards are generally filled with the CEO’s buddies, many of whom sit on multiple boards and collect significant compensation for showing up once a year to rubber-stamp the CEO’s requests. Few directors actually represent the investors’ interests, and even fewer could give a fxxk about the workers. Yet it is the workers who create the profits.


We took our business’s accounts out of Wells Phargo and moved it to a regional bank that was much more responsive. We’re much happier. All of which reminds me that up to the late 70s the state of Colorado limited banks to no more than one branch office, and that could be located no more than 500 yards from the main office. Worked wonderfully to keep the bankers from getting too much power.

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You left out the complacent OWNERS! People own this company, yet let lapdog boards give away THEIR money for flat performance and godawful PR.

That might be in what the board promises too, but whatever exchanges it’s on should post an exception to the regulators who see to it that equitable lending shakes on well-accounted through the required spread.

You’re ignoring all the fuckwits who bought that feudalistic bullshit, from the wankstain pundits and the Chicago-school douchebags on down to the temporarily embarrassed wannabe millionaire trash who keep voting to get kicked in the teeth.

All those turkeys who would defend these parasitic jokers. You’d hope it’s not actually a category, but unfortunately it’s a big one. And without them, these filth wouldn’t have a safe haven.

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