When you look at the list of people that Wells Fargo stole from -- ordinary depositors, struggling mortgage borrowers, 800,000 car loan borrowers, mom and pop businesses, medium businesses and home owners -- a commonality emerges: they're all poor people, or middle-class people, or slightly rich people.
But now it appears that Wells Fargo was also dumb enough to steal from the very rich, through its Wealth Management unit. We don't know exactly what kind of shenanigans they got up to, but the DoJ has started to question employees in the unit, and we can expect to know more shortly.
The report said the FBI has interviewed some employees in the Phoenix area as the Justice Department and Securities and Exchange Commission expand the scope of an investigation into sales practices beyond Wells Fargo's retail division.
Wells Fargo wealth management employees questioned by federal agents: WSJ [Liz Moyer/CNBC]
A batch of internal Harvard admission-related emails have come into the public domain as part of a lawsuit alleging that Harvard discriminates against Asian applicants, and they reveal that the admissions process is tilted in favor of members of families who are major donors to Harvard.
The highly secretive Silicon Valley-based data company Palantir is reported to be considering an initial public offering.
Helm is a startup making a $500 home gadget that replaces Gmail and Google Calendar, letting you control your own email and coordination; its founders have deep information security backgrounds, and plan to make money by charging an annual $100 management fee.
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Multinational companies have used the no-nonsense methodologies of Six Sigma and Lean Six Sigma to oil a smooth-running operation for years. What is it? Six Sigma (and its offshoot, Lean Six Sigma) apply the principles of science to business, teaching managers to methodically target waste, maximize output and streamline the flow from producer to consumer. […]