This is the best video I have seen in a really long time, finally someone with balls stands up to a CEO for fraud. Senator and bad ass Elizabeth Warren destroys CEO John Stumpf after it was revealed that Wells Fargo had opened up 2,000,000 fake accounts in their customers’ names, then racking up fees on those accounts and trashing their customers’ credit ratings.
In the depositing Warren asks Stumpf repeatedly if he has given back any of the bonus money he was paid as a direct result of the fraud; he has not resigned. Another top Executive was paid $125 million dollar bonus who oversaw the fraud and then “retired” a few weeks before the scandal broke.
he Wells Fargo CEO said the scandal pains him more than any problem faced by the bank in his 35 years there, and that he accepts responsibility.
I am deeply sorry that we failed to fulfill our responsibility to our customers, to our team members, and to the American public,” he said in his prepared remarks.
Wells Fargo employees were pressured to meet unrealistic sales goals and that they opened up the fake accounts so they would not lose their job.
He’s sorry he says while screwing millions of Wells Fargo users and collecting a hefty bonus! But kudos to Senator Warren for saying what millions of people have been thinking.