Elizabeth Warren's wonderfully brutal takedown of Wells Fargo CEO

After Wells Fargo CEO John Stumpf recited a drawn-out No True Scottsman Fallacy disguised as a hollow apology at the Senate Banking Committee's Wells Fargo hearing, senator Elizabeth Warren tore into him. From CNN:

Warren slammed Stumpf for failing to fire any senior executives linked to the scandal, while Wells Fargo's aggressive sales tactics helped pump up the bank's stock price.

She said Stump's personal holdings of Wells Fargo stock increased by more than $200 million while the fake accounts "scam" was going on, thanks in part to the bank's success in selling tons of products to customers that they didn't need.

"You squeezed your employees to the breaking point so they would cheat customers and you could drive up the value of your stock and put hundreds of millions of dollars in your own pocket," Warren said.

Stumpf barely blinked, no doubt thinking that whatever Warren was saying, it was worth $200 million.

Notable Replies

  1. TobinL says:

    We need a whole lot more people like this in our government at all levels.

  2. I want to clone her and Ruth B. Ginsberg.

  3. Typical Leftist Democrat, attacking the Job Creators! Why, if this persecution keeps up, they'll pack up their pile of money and quit, and then where will we be?

    /continues to be pushy, obnoxious, hands out copies of Atlas Shrugged, eventually chokes to death on unearned privilege

  4. Sorry, those are terrible analogies. They're single serendipitous events, not long, profitable conspiracies winked at by scofflaw corporate culture. The coach does not personally profit when an interception is thrown. A better analogy is a coach who promoted a culture of cheating on his team, and yes that coach should be fired.

  5. TobinL says:

    No but I expect him to clean the fucking house of the upper level managers and lower level executives that knew and either promoted the behavior or just looked the way and then maybe go hey this was on my watch and I fucked up big time maybe I should resign as well.
    This is a bank where things went bad because people were doing the shit on purpose. To use the football game analogy if the QB threw the interception to intentionally lose the game then fucking yes the coach should raked over the damn coals for allowing that kind of behavior on the team.

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