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she is such a bad ass

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And he doesn't look like he cares, because he knows he's untouchable - He just pays everyone off to look the other way while he robs the bank blind.

all he does is show up for these sessions, and walks out back to his millions, knowing he's not about to become accountable . In fact, he doesn't even feel he's done anything wrong - business as usual!

Here's a bit more info...

http://www.thestranger.com/slog/2016/09/20/24570408/watch-senator-elizabeth-warrens-splendid-takedown-of-gutless-wells-fargo-executive

Well done.

I think she sank his battleship.

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Adding video to channels (Controversy) - requested by MrFisk.

talk talk talk talk, talk talk talk talk. Talk talk talk, talk talk talk talk talk, talk talk talk talk. Talk talk talk, talk talk talk talk talk, talk talk talk talk. Talk talk talk, talk talk talk talk talk, talk talk.

She must feel crazy sometimes. Almost like a movie--"Am I going crazy here? Am I the only who sees what is going on here?"

For those who don't know, she frantically tried to tell Alan Greenspan that he had to control credit access and interest rates before the collapse in 2008.

http://harvardmagazine.com/2008/05/making-credit-safer-html

http://billmoyers.com/segment/flashback-elizabeth-warren-basically-predicts-the-great-recession/

I fear she will go a little crazy at some point; that being right for so long, about something so important---will lead to mind almost cracking. I hope not.

Why can't she run for President.

Putin would be quaking in his mink moccasins.

Apply RICO, assign a public defender, grab some popcorn and watch what happens.

Sickening.

As great as she speaks, it's all for naught.

He gives not one shit because not he nor any other bank executives will ever be held accountable for their ongoing criminal behavior. And that's why they keep doing it and will not stop doing it.

I wish journalists would hold politicians' feet to the fire the way Lizzy Warren roasts bankers.

When do we get our "Let them eat cake" moment? These guys are fucking us in the ass and laughing while they do it. You can go to prison for life if you steal $35 from a gas station, but if you're a CEO who hands out bonuses to your crooked friends, you don't get so much as a dirty look.

The French knew how to solve this problem -- one head at a time.

so where do the candidates stand on this?

She is: This entire thing, and all of the clips like it, and all the media coverage she's received for the past year are a political-strip-tease. She's only doing this to set up the strongest possible position in 2020/24. These are planned dog-and-pony shows.

It should matter more that she's not actually doing anything here, but judging by the comments she doesn't have to bother.

Awesome comment. I wish I could upvote it twice. I threw up a little in my mouth watching the grandstanding going on here and how apparently most Sifters are eating it up.

Fraud? Cross-selling is perfectly legal and in fact practiced regularly in many industries besides banking (like when Best Buy tries to get you to purchase a protection plan for any electronics you buy at their store). If she has an issue with it, as a legislator she is free to bring a bill to the floor to do something about it. The problem is, she didn't give a shit about cross-selling until she realized she was going to have an opportunity to stump for future votes in these hearings and she apparently doesn't give a shit about it now because despite those strong-worded pleas for action she's done nothing personally to make anything she said happen.

Stumpf should give up his money? He isn't the one who opened fake Wells Fargo accounts nor is there any evidence he directed his employees to do so. And as he tried to explain before she cut him off to grandstand some more, those fake accounts only represent 1% of the total cross-selling that happened, which means the stock price was not unduly inflated--people were in fact opening of their own volition more accounts with Wells Fargo than any other bank and Wall Street loved them for it.

The real issue here is that there were not adequate controls in place to prevent the fake accounts from being created in the first place (or detected quickly after being created). And for that Stumpf probably does have some small amount of responsibility, although it sounds to me more like whoever was in charge of compliance is the person who likely should be the one left holding the bag.

But let's not let reality get in the way of a politician's dreams of future offices.

Very true, which is why I was glad she asked whether anyone in charge of compliance had been fired. However, her point about his paying back the money is pertinent, as he has stated repeatedly that he "takes full responsibility." I don't feel one can claim to both take full responsibility and personally suffer none of the consequences.

While cross-selling is absolutely legal, managers at a high level should be savvy enough about how people behave to realize that if low-level employees are heavily incentivized to sell, while also being punished for not selling enough, then they're going to get creative about how they do it. That should absolutely lead to careful monitoring of any newly-opened accounts to ensure they're entirely legitimate. Without that compliance structure in place, it's inevitable that fraud is going to happen. Human nature makes it very easy to predict.

This is without even getting into the allegations that whistle-blowers who made serious efforts to inform upper-level management about the malfeasance were disregarded and subsequently fired.

Comment hidden because you are ignoring dag.(show it anyway)

Sift of the week from our new Galaxian.

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