OH MY GAWD! WELLS FARGO BANK decided to DEFRAUD every client it had. ALL!
Figuring nobody notices insidious monthly debits on their statement !!! Especially if they
never get that statement at all!
A gorgeous, persuasive exec at the top of the company (a gal who looked like a pilgrim,) had this idea: "Let's give everybody a second account
and we pilfer from it. They will never know as they aren't watching that account at all." See http://inequality.org/sandbagging-customers-fun-profit/
THE DEVIL MADE ME DO IT! See that
line between my eyes? That is a worry
line. People who worry all the time come
up with WEIRD, SKEWED SURVIVAL schemes!
CARRIE told the exec board "We can fix our fading financial fortunes with all the money we suck out of these fools
who will not even KNOW they have a second account. We can fine them like crazy. THRU THAT ACCOUNT
Trust me, 1 in 100 will notice it on their statements. Didn't we give them PHONY LIFE INSURANCE FOR 20 years? HOW MANY
caught that? We sent a form, nobody signed it, nobody sent it back so WE signed a similar form & charged them for it anyway. (That
was BANK OF AMERICA actually). We made gadjillions off that. Monthly debit they never noticed!
These schemes seem preposterous but if you read the news, you know that this actually happened! 5400 Employees were told to create these fictional bank accounts. And they did it!
http://fortune.com/2016/09/12/wells-fargo-cfpb-carrie- tolstedt/
Five years they ply this con, they made huge money and when CARRIE quit the bank, she got her 125 million buck Golden Parachute from WELLS FARGO shorting SHAREHOLDERS as well! The Corp had successfully reaped huge profits thanks to this exec decision, --the one who thought up the fraud thing, an idea that SEEMED SO PLUCKY AND CLEVER!
She has left with her package of moola under her arm so they can't fire her. She's Scott free.THE BANK was charged 187 million bucks as a fine.
Carrie's plan reminds me of that POSTER that I hang on my wall reading 'I DUNNO, SEEMED LIKE A GOOD IDEA AT THE TIME."
HOW many times in your life have you had an idea, plan, brainstorm that led you down a bad road. Finally makes sense
Even the most educated people can have a lightbulb that comes from the dark side!
PS. I BEFORE SHE LEFT, I wondered if WELLS FARGO would make ONE PERSON (HER) fall on her sword to take the hit for the team. BUT QUELLE SORPRISE! 5,400 employees who WENT ALONG WITH HER IDEA were fired and are now jobless.Carrie sez: Let them eat cake.
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