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.
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.
The most remarkable criminal justice story of 2017 is that the FBI has arrested a real corporate criminal, a VW executive who tried to engineer a coverup of the Dieselgate scandal, and that he might go to jail — it’s remarkable because the Obama administration spent eight years resolutely not sending criminal executives to jail, […]
Wells Fargo didn’t merely open 2,000,000 fraudulent accounts and bill its customers for them; it also tricked its customers into signing up for insurance policies, at mass-scale.
When you sign up for a Wells Fargo account, you’re required to sign an arbitration “agreement” giving up your right to sue the company, and requiring you to have your case heard by an arbitrator paid for by — and dependent on — Wells Fargo instead.
Whether I’m trying to relieve some stress at work or entertain myself on the metro, Space Putty is there. You can bring this magical goo home and try it for yourself for just $9.99Like Silly Putty of yesteryear, this viscoelastic substance can be molded into different shapes and stretched around in your hands. Use it […]
You know as well as I that writing complex, long-long form text requires significant organization. You’re probably also well aware that Word just isn’t up to the task. That’s why I’m a huge fan of Scrivener, the software suite used by best-selling authors and technical writers alike.Scrivener is much more than another digital typewriter. With a […]
Looking to upgrade your weekend? Here are three randomly awesome products on my mind this week.#3 FRESHeBUDS Pro Magnetic Bluetooth EarbudsAs more and more phones and gadgets switch to Bluetooth-only compatibility, you’ll need to get Bluetooth headphones like the rest of us. I’ve been super impressed with these affordable magnetic headphones. Pull the magnetic earbuds apart to auto-connect […]