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John Oliver - Wells Fargo's Ethics

John Oliver - Wells Fargo's Ethics

John Oliver - Wells Fargo

Gratefulmom (Member Profile)

Senator Warren Destroys Wells Fargo CEO Over Cross Selling

SDGundamX says...

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.

artician said:

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.

Fairbs (Member Profile)

siftbot says...

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Sagemind (Member Profile)

siftbot says...

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Senator Warren Destroys Wells Fargo CEO Over Cross Selling

Matt Chat 89-91: Bard's Tale, Wizardry, Wasteland, & Fallout

artician says...

I worked directly outside of Brian Fargo's office for a couple years, and my social anxiety was so bad that I never even spoke to him more than the occasional greeting in passing. I'm such an idiot.

He's a really nice guy too.

Making sure your pressure washer is ready for lending

Russian candidate for the Darwin Award

VGHS Season 3 Episode 1

ChaosEngine says...

I'm not sure if the social gamer girls accent was deliberately all over the place or just a really bad attempt at some kind of Irish or Fargo-esque accent?

Good fun, needed more Law and the Principal too.

Martin Freeman in New Series 'Fargo'

FlowersInHisHair says...

I'm not sure. Fargo is a great film, one of my favourites, but it's old now and it's hardly a great big cash-cow franchise, so it seems like more of a gamble than a safe-bet. I mean, I'll bet the mainstream audience don't remember the film at all, let alone fondly enough to make a series a sure-fire winner. I hope the writers have a good story up their sleeves.

"Pop culture on the skids", if you want to put it that way, is better exemplified by another reboot of Battlestar Galactica (happening) or a series based on C-tier characters from the Marvel Universe (Agents of Shield) or the new Spider-Man film series. Or a Nirvana/Kurt Cobain musical (also on the cards). Compared to all that crap, a Fargo series sounds brand-new.

chingalera said:

A series as a nod to Fargo screams rehash of pop-culture on the fucking skids and a reason to spend your cable money on learning to plasma-weld or something.....

Martin Freeman in New Series 'Fargo'

chingalera says...

Can't stand politics. Apolitical. In a reasonable world, politicians would be rounded-up and placed in internment camps awaiting trial for crimes against humanity....Or wait, that's too harsh-Dress 'em in clown make-up, strip 'em naked and toss em one by one into oncoming roller-derby traffic for a few healthy rounds of clothes-hanging.

'No Country' and 'True Grit' of the last 7 films (did love the scenes with Richard Jenkins and J.K.Simmons though in Burn After Reading, otherwise that film was simply hard to watch) and of course Lebowski and O brother....but seriously....Inside Llewyn Davis? What more of a complete piece of shit can one imagine?

Imagine if you will, two Jewish men driving down the street laughing at people while throwing burning hundred-dollar bills out the window.

A series as a nod to Fargo screams rehash of pop-culture on the fucking skids and a reason to spend your cable money on learning to plasma-weld or something.....

Welcome back BTW @volumptuous. Still got yer Aunt Jemima Cookie Jar

Last time I tried to vote they turned me away at the polls in that rigged election-machine Gore/Bush election back in 2000....I was gonna write-in a made-up name. I realized that year that my mission was to decry all presidential elections as complete and utter farce and an insult to the collective consciousness.

Martin Freeman in New Series 'Fargo'

ChaosEngine says...

my thoughts on this:

Fargo? WTF!? Why does this need to be made? This can only be terrible.
Oh hey, it's that guy and the other guy and that dude who was Joeys roommate in friends. Not a terrible cast... wonder who they got to play... nope, no Frances McDormand. Fail.

So I'm going to say "cautiously pessimistic" on this. Could be good, probably be terrible.



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