Wells Fargo Batshit Crazy Employees

[MTT]

Rhetorical question: How many career DOJ people do you know, Benny?

ETA: Still waiting, by the way.

the more interesting question would be (How many DOJ people know me) ? You?

[skiballs]

the more interesting question would be (How many DOJ people know me) ? You?

Well I've got no dog in this fight. I did however date a DOJ bean counter for a while. She did not like her job, at all.

[assman]

Wow couldn't be more timely. I was in a Wells Fargo yesterday. The bank manager was telling me my investment strategy was all wrong. He sought me out because i am carrying a lot of money in a liquid account basically earning bupkis but soon to be used to purchase another investment property.

He couldn't understand why i would pay cash for investment properties when I could at least double the number i own by leverage. Hey a lot of people do it but I own what i own and owe nothing to anyone. He couldn't grasp the concept.

He started babbling about investment vehicles , annuities, all manner of shit. i guess he signed me up for all of it after i left. lol

[The Reverend Floater]

It is utterly crazy to me that people still believe someone in the federal government is fighting for the little guy. Literally billions spent on warships and fighters that don't work. Billions spent on a decades-long drug war that has only made things worse. Billions and billions spent on two wars that have made us markedly less safe. Billions in failed farm subsidies. Billions in welfare programs that have consistently done nothing in reshaping our poverty challenge. Billions spent on a privatized prison system that houses a bigger share of our population than any other nation on earth. Billions upon billions upon billions of the little guy's dollars.

But yeah, the DOJ doesn't want to indict anyone in the financial system because they can't afford the resources? Seriously?

[digitaldeath]

Let's focus on Wells Fargo. The nations number one home mortgage lender. And a huge checking account provider

How many employees must. You speak to when you visit? Minimum of 3

I've been asked, my friend had been asked and even his 73 year old father has been asked when making a withdrawl " hey what's the money for?"

Another time the nosey bitch monitoring the teller asks "how long have you had that card?"

What I say. I don't know. Why!!!


One time at a party some fucking idiot was bragging how he was a banker, I was mildly impressed with his station until a few weeks later I see him at a wf branch and he's just a personal banker helping Joe shmo open an account

I seriously called back this bitch yesterday, that I complained to weeks ago, just for laughs. I asked some simple questions and had her tongue. I thought she was gonna cry. She finally muttered something about how my platinum card was working for me and I'm like what!! Why!! You have no products of any value and said you can just end the call

She said nothing

Are u gonna hang up I say

Then I hung up

Thinking about visiting branch just to vent to branch manager and see how pathetic he is

[jono]

18.5 mill for the D-team cheerleaders and the bootlickers just keep collecting stories to post on the internet. Man up bitches: find a credit union and put down the pom poms.

[shroom]

up until about a month ago I paid rent via check deposit at WF. one location in bellevue wa would get all up on me every time about opening an account. the first 5ish times I gave legit answers around why I like my current place. the last time I went there, this chick was trying to convince me to give her my drivers license, so that if I ever wanted to open an account, it would only take one click.

I thought she wanted to bump junk. now I see that maybe I was wrong.

[billyk]

It's strange. I really like Wells Fargo, and the services they've provided compared to any of the other banks I've had in the past. Best I can tell, they've never screwed me over or opened any accounts for me that I didn't authorize. I really can't fathom this report.

[stalefish3169]

It is utterly crazy to me that people still believe someone in the federal government is fighting for the little guy. Literally billions spent on warships and fighters that don't work. Billions spent on a decades-long drug war that has only made things worse. Billions and billions spent on two wars that have made us markedly less safe. Billions in failed farm subsidies. Billions in welfare programs that have consistently done nothing in reshaping our poverty challenge. Billions spent on a privatized prison system that houses a bigger share of our population than any other nation on earth. Billions upon billions upon billions of the little guy's dollars.

But yeah, the DOJ doesn't want to indict anyone in the financial system because they can't afford the resources? Seriously?

Trillions, man. Trillions.

[assman]

It is utterly crazy to me that people still believe someone in the federal government is fighting for the little guy. Literally billions spent on warships and fighters that don't work. Billions spent on a decades-long drug war that has only made things worse. Billions and billions spent on two wars that have made us markedly less safe. Billions in failed farm subsidies. Billions in welfare programs that have consistently done nothing in reshaping our poverty challenge. Billions spent on a privatized prison system that houses a bigger share of our population than any other nation on earth. Billions upon billions upon billions of the little guy's dollars.

But yeah, the DOJ doesn't want to indict anyone in the financial system because they can't afford the resources? Seriously?

Hence my disdain for government. When you look at what government could do to actually help people have better lives and then compare it with what they actually do it is apparent that government is a self serving entity that protects and serves only itself.

Like the gentleman above me said it's trillions not billions. This country has obligated each and everyone of us to pay for their largess to the tune of at least 20 trillion dollars. That is 20 trillion dollars that all of us must exchange our labor for.

What particularly galls me is the trillion dollar welfare expenditure. It is the one program that if administered properly could actually achieve it's stated goal however just like obamacare it is designed to fail and was designed to keep people in poverty and designed to keep them dependent on government.

[Benny Profane]

http://www.nakedcapitalism.com/2016/...scot-free.html

"This sorry incident is yet another proof that we live in the best of all possible worlds for the top 1%, where no unseemly questions about who knew what when are pursued seriously. It’s routine for CEOs, as justification for their stratospheric pay, to claim they are responsible for every aspect of corporate success yet are never challenged when they descend into the ritual “I know nothing” denials over misconduct that took place on their watch. If anyone wants to understand why non-traditional candidates like Bernie Sanders and Donald Trump are getting traction, it’s the refusal of the elites to police their own ranks. Even in a year when the Democrats are under pressure and there have been more and more calls for individual bank executives to be punished, the powers that be can’t bring themselves to do the right thing."

[riser4]

Hence my disdain for government. When you look at what government could do to actually help people have better lives and then compare it with what they actually do it is apparent that government is a self serving entity that protects and serves only itself.

Like the gentleman above me said it's trillions not billions. This country has obligated each and everyone of us to pay for their largess to the tune of at least 20 trillion dollars. That is 20 trillion dollars that all of us must exchange our labor for.

What particularly galls me is the trillion dollar welfare expenditure. It is the one program that if administered properly could actually achieve it's stated goal however just like obamacare it is designed to fail and was designed to keep people in poverty and designed to keep them dependent on government.

And yet you do not display the same disdain for the large corporations which are arguably as bad if not worse. Fail.

[Timberridge]

Don't worry, private banks are going the way of the fax machine. When the government eventually abolishes cash, you can do all your banking from your iPhone13 via the USPS and earn negative rates on your electronic balances that the government will automatically tax. No more W-4's, and worrying about filing on April 15. You'll love it.

[Dexter Rutecki]

Oh please. As said above, not one crooked banker has been put in jail in the period since the financial crisis happened, and guess who was President and effective head of the DOJ? It doesn't need rabid critics in the media. Fuck, Chuck Schumer, one of the of the most powerful Dems, can't help getting hysterical defending these crooks when he has a chance. You know, the senator of New York. Like, where Wall Street resides. Please. Or, let me put it this way. Who besides Cranky old Bernie and Warren have been heard in the media insisting upon justice for the greatest financial and white collar crimes in history. You know, Democrats? I'll give you a few hours to goggle that.

250,000 dollar speeches to Goldman Sachs, dude. Three or four of them.

I know this is your axe to grind, but I simply don't see Hillary or most other politicians deciding that they're going to take a bribe from a bank to keep random bankers out of jail. If you were right, Hillary wouldn't support Dodd Frank (which the bankers generally, or uniformly (maybe), hate). She and Warren have come out strongly against R efforts to repeal it.

I'm not saying what she's done in taking those fees and not releasing the transcripts is right, since it allows people to imagine some quid pro quo, But by swallowing the anti-Hillary conspiracy theories, without a shred of evidence that any favors were done (in fact, based on how she helped install the regulations the banks hate, there is evidence to the contrary), makes it sound like you're uncritically accepting the Republican, media driven narrative about Hillary.

Plus, you have to see Hillary as senator in the same way that you would see any senator from Iowa who defends ethanol subsidies. She represents her constituents and is going to work on their behalf, which sometimes means doing things on behalf of the dominant industry as a whole--and in NYS banking is pretty big business (yes, I fully understand allowing the bank status quo to persist isn't really working on behalf of average constituents, but again, Hillary did not just sit back and refuse to regulate). If Hillary didn't do something to help keep the banks in NYC, guess what they'll do? Have a look at London and how brilliant the Brexit strategy is for instruction on this. Global banks don't have to be in NYC--they choose to be (and they have no issue moving significant numbers of workers elsewhere if it turns out NYC isn't good for their business). If the bankers aren't here, guess what happens to the guys who sell them suits, the hot dog vendors, the cabbies, the maitre d's, the private school teachers, the public employees whose salaries are paid by taxes on those salaries and the properties they buy? I'm not a trickle-down guy by any stretch, but the 'multiplier effect' of jobs certainly exists.

It's easy for a guy like Sanders to rail against the banks and offer unrealistic solutions--WTF does VT care if Morgan Stanley relocates? How many jobs are on the line for Sanders's constituents?

I'm 100% in favor of getting executive compensation back to where it used to be and am highly against the wealth inequality we have (politically I'm more of a socialist than a capitalist). But I also can see that the issue is not as simple as people like Sanders would have you believe. (I still agree there was real criminal behavior on Wall Street (obviously there still is), and people should go to jail--C-level people). And the baseless Hillary conspiracy theories should be dropped.

[Harry]

Don't worry, private banks are going the way of the fax machine. When the government eventually abolishes cash, you can do all your banking from your TrumpPhone via the TrumpMail and earn negative rates on your electronic balances that the government will automatically tax. No more W-4's, and worrying about filing on April 15. You'll love it.

FIFY.

[Benny Profane]

I'll drop it when the family (which includes Chelsea and her hedge fund hubbie) refuse to take incredible speaking fees just to schmooze for a night, or, if fees are offered, contribute most of them beyond expenses to a charity besides their own. OK?

Conspiracy? Cmon. They, as a couple, have made over a hundred million (100 million!) dollars either doing speeches or "consulting" since they left the White House. 100 million! And that's not the foundation. That's IRS personal income, cash in the bank. Hell, that's more than 90% of overpaid CEOs out there, and CEOs have a job to do.

[Tippster]

It is utterly crazy to me that people still believe someone in the federal government is fighting for the little guy. Literally billions spent on warships and fighters that don't work. Billions spent on a decades-long drug war that has only made things worse. Billions and billions spent on two wars that have made us markedly less safe. Billions in failed farm subsidies. Billions in welfare programs that have consistently done nothing in reshaping our poverty challenge. Billions spent on a privatized prison system that houses a bigger share of our population than any other nation on earth. Billions upon billions upon billions of the little guy's dollars.

But yeah, the DOJ doesn't want to indict anyone in the financial system because they can't afford the resources? Seriously?

Honest question: How do you put a ginormous Corporation in jail? If you're going to hold an individual (like say Dimon) criminally responsible do you think you have to prove it beyond a reasonable doubt that HE was at fault? That's an almost impossible hurdle for any prosecutor. Sure we could re-write the law holding the CEO of any corporation criminally liable for any wrongdoings of any segment of the company they run, but who the fuck would sign up for that job, or more likely - who would stay in that jurisdiction?

I think therein lies the problem, and why we get fines rather than jail times.

[jono]

(I still agree there was real criminal behavior on Wall Street (obviously there still is), and people should go to jail--C-level people). But my team is doing everything right.

Shortened it for you.

[Skidog]

Honest question: How do you put a ginormous Corporation in jail? If you're going to hold an individual (like say Dimon) criminally responsible do you think you have to prove it beyond a reasonable doubt that HE was at fault? That's an almost impossible hurdle for any prosecutor. Sure we could re-write the law holding the CEO of any corporation criminally liable for any wrongdoings of any segment of the company they run, but who the fuck would sign up for that job, or more likely - who would stay in that jurisdiction?

I think therein lies the problem, and why we get fines rather than jail times.

I know oversight is a "bad" word, but cool....fine the shit out of them, but then watch every move they make like hawks from then on. Bail these fuckers out, and they go right back to what they were doing before, just in some other way. Any way you cut it, its stealing. They stole from all of us if you ask me. We did nothing to change what nearly brought the worlds economy to its knees.

Too big to fail shouldnt have ever been a phrase. If you suck at business you suck at business and deserve to fail. We been bailing out many small business owners? I think not....Disgusting.

[jono]

Honest question: How do you put a ginormous Corporation in jail? If you're going to hold an individual (like say Dimon) criminally responsible do you think you have to prove it beyond a reasonable doubt that HE was at fault? That's an almost impossible hurdle for any prosecutor. Sure we could re-write the law holding the CEO of any corporation criminally liable for any wrongdoings of any segment of the company they run, but who the fuck would sign up for that job, or more likely - who would stay in that jurisdiction?

I think therein lies the problem, and why we get fines rather than jail times.

If the fines were large enough to break up the company that would be a solution. Until then, requiring someone to be responsible for the actions of a company means companies shouldn't be too large for anyone to control. We're far past the point where natural economies of scale apply meaningfully, at these scales the only thing gained by "consolidation" is more influence on market pricing and government regulation. So if no one is willing to be responsible for the whole company and the only solution is to spin off small enough pieces so that someone would be willing to take them on, how would that be a problem?

[Tippster]

Look, I get the anger and the "someone oughtta rot" response but:

Even on a smaller scale this doesn't work. Let's say a couple of teachers extort money from their 5th grade students so they won't give them shitty grades. Those teachers individually have committed a criminal act and can be held liable. You cannot throw the Principal in jail without proving he was in on it, or aware of the practice yet ignoring it (criminal negligence.)

The problem with the financial crisis is that very few, if any, of the circumstances precipitating it were illegal -- immoral maybe, but you cannot go to jail for being an asshole. The result was horrendous but without changing the laws (ie Dodd-Frank & CFPB) there is no recourse.

That's why IMHO the CFPB is one of the most important creations in banking history - we need a watchdog to sort through the consumer ramifications of new banking products, just like the FDA does with new medicines.

[guroo270]

I want to know where that 185 million dollar fine goes. $5 mil for the people, $185 mil for the... who? "They"? A government investment in Haliburton?

Edit: Good goin' KQ...

[jono]

The problem with the banking crisis was that the laws defined a complex playing field in which single point failure led to disaster. There is little evidence to support the idea that a quick and insightful fix to the laws won't have the same effect down the road. So you make the CFPB really important: How long before the CFPB employees get cozy with the couple of remaining banks they're supposedly regulating and learn to play the revolving door game like all the failed regulators who came before them?

[guroo270]

How about having a mandatory 1,2, or 3 year sentence for anyone with knowledge that stays complicit with the wrongdoings? Don't have to send just one guy to the slammer for countless crimes, but make everyone involved that saw an email, a practice, or a memo regarding shady business as an accessory to the crime.

[Benny Profane]

I want to know where that 185 million dollar fine goes. $5 mil for the people, $185 mil for the... who? "They"? A government investment in Haliburton?

Edit: Good goin' KQ...

Funny thing. Most of, if not all of that fine is paid by shareholders. Check your 401k or pension holdings. Betcha Wells is in there.