As someone banking with Wells Fargo, I have no plans to move my accounts elsewhere. They did something stupid and are now paying for it.-If the government was unable to create regulations, or chose to eliminate the regulations, we’d all be in big trouble. All of the financial institutions would take advantage of the “free-market” method.-Don’t forget what happened in 1929.
See this is why the Republicans want to get rid of the Consumer Protection Agency. It keeps catching business and banks with their hand in the cookie jar. They want to be able to burn and pillage at will.
If only we could get rid of regulations on the banks, then we could get back to lining the rich’s pockets with the few crumbs the poor have left. This is the Right-wing utopia. Let the rich funnel up all the money and let the poor pull themselves up by their boot straps, all their whining is bad for business.
cjr53 Some deterrent! Three days profits in fines won’t stop any amount of corruption. Only forfeiture and prison on the part of the guilty will do that – if enforced. As Robert Peel (eponym of the “bobbies”) said, it is not the severity, but certainty of punishment that deters crime.
Dumped Wells Fargo several decades ago, then B of A, because the took ultimate advantage of the advantages to them from the changes the REAGAN administration made in banking REGULATIONS, not “laws”.
You’ll notice there are no comments from Republicans/Fox “news” viewers or any of the so-called ‘conservatives’ expressing outrage over Wells Fargo’s illegal activities.
It’s their belief that their WOO WOO chant at Trump rallies invalidates all of Elizabeth Warren’s charges against Trump and her charges against Wells Fargo.
Worked with Wells Fargo to set up electronic financial transactions for the company I worked for. Their “requirements” kept changing and they continually would have to go back and re-group because they didn’t even understand their own processes well enough to handle conference calls.-My main contact was an “Assistant Vice President” – what the heck would that even mean? It wasn’t Assistant TO the Vice President.
Odon Premium Member over 7 years ago
Very good Steve!
cjr53 over 7 years ago
As someone banking with Wells Fargo, I have no plans to move my accounts elsewhere. They did something stupid and are now paying for it.-If the government was unable to create regulations, or chose to eliminate the regulations, we’d all be in big trouble. All of the financial institutions would take advantage of the “free-market” method.-Don’t forget what happened in 1929.
Theodore E. Lind Premium Member over 7 years ago
See this is why the Republicans want to get rid of the Consumer Protection Agency. It keeps catching business and banks with their hand in the cookie jar. They want to be able to burn and pillage at will.
JohnHarry Premium Member over 7 years ago
and don’t forget 2008.
Mr. Blawt over 7 years ago
If only we could get rid of regulations on the banks, then we could get back to lining the rich’s pockets with the few crumbs the poor have left. This is the Right-wing utopia. Let the rich funnel up all the money and let the poor pull themselves up by their boot straps, all their whining is bad for business.
hippogriff over 7 years ago
cjr53 Some deterrent! Three days profits in fines won’t stop any amount of corruption. Only forfeiture and prison on the part of the guilty will do that – if enforced. As Robert Peel (eponym of the “bobbies”) said, it is not the severity, but certainty of punishment that deters crime.
Kip W over 7 years ago
The watchdog caught a burglar! Better get rid of the watchdog.
Dtroutma over 7 years ago
Dumped Wells Fargo several decades ago, then B of A, because the took ultimate advantage of the advantages to them from the changes the REAGAN administration made in banking REGULATIONS, not “laws”.
braindead Premium Member over 7 years ago
You’ll notice there are no comments from Republicans/Fox “news” viewers or any of the so-called ‘conservatives’ expressing outrage over Wells Fargo’s illegal activities.
It’s their belief that their WOO WOO chant at Trump rallies invalidates all of Elizabeth Warren’s charges against Trump and her charges against Wells Fargo.
daddyvortex over 7 years ago
I’m for “Hell’s Farrago.”
But should Sen. Warren end up in Hell to answer for her sins, see this Q and A.
https://ricochet.com/374821/turning-tables-sen-warren/
Nantucket Premium Member over 7 years ago
Worked with Wells Fargo to set up electronic financial transactions for the company I worked for. Their “requirements” kept changing and they continually would have to go back and re-group because they didn’t even understand their own processes well enough to handle conference calls.-My main contact was an “Assistant Vice President” – what the heck would that even mean? It wasn’t Assistant TO the Vice President.
keith w boone over 7 years ago
I haven’t trusted Wells Fargo for a long time. they are a bunch of crooks.