Wells Fargo won't claw back $125m retirement bonus from exec who oversaw 2m frauds


#1

Originally published at: http://boingboing.net/2016/09/13/wells-fargo-wont-claw-back.html


#2

That’s $62.50 per act of fraud. Not a bad haul.


#3

Amerikkka! Where you get thrown in jail with a criminal record for stealing $62 from someone, but get paid $125 Million for stealing $62 from 2 million people!

I think it’s safe to say our society has another couple decades in it, at best.


#4

Way to break that glass ceiling!


#5

Does anyone know if Lynndie England’s superiors were ever charged or investigated for creating a culture that encourages misconduct?

This is our culture people. It’s not aberrant if it’s mundane and expected.

/One general got demoted one rank, which IIRC does not have any impact on retirement benefits as you muster out with your highest rank unless it’s a DHD.


#6

The people who will be least affected by a collapse are the ones in charge. They don’t care.


#7

FIFY.
.


#8

21 page PDF titled Visions and Values: https://www08.wellsfargomedia.com/assets/pdf/about/corporate/vision-and-values.pdf

Lol! It’s hilarious, bravo wells Fargo, bravo!


#9

That wasn’t an improvement


#10

I guess that depends on whether or not one thinks that the human experiment has more-or-less played itself out at this point…


#11

That was her bonus? What was her actual pension? :open_mouth:


#12

I have chosen the wrong career path.

And I’ll bet she has a promising future in politics for the second half of her life.


#13

Let’s be reasonable, people, it would cost Wells Fargo $5 million in legal fees to reclaim that $125 million.

Totally not worth it.

That’s just bad math!


#14

I’d be surprised if her contract didn’t have something about ‘not bringing the company into disrepute’, so they probably could have just fired her. On the other hand, it looks like the fraud was discovered, and she was let go to avoid scandal (which broke anyway).


#15

♬ O-ho the Wells Fargo Wagon is a-comin’ down the street.
I wish, I wish it wouldn’t run me o’er!
O-ho the Wells Fargo Wagon is a-comin’ down the street.
I wish, I wish it wouldn’t fuck me o’er!
I got defrauded on my birthday by a banker.
In March I got a call from a collector!
Is it i-den-tity theft or repo men
It could be bad checks
Or the bill for
Carrie Tolstedt’s pay-off!
Or it could be
Yes, it could be
Yes, you’re right it surely could be
Criminal malfeasance and executive
Im-muni-tyyy!


#16

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