Stumpf Prepared Remarks: ‘I am deeply sorry’ But Won’t Resign

stumpf

Stumpf Prepared Remarks: ‘I am deeply sorry’ But Won’t Resign

“I am deeply sorry that we failed to fulfill our responsibility to our customers, to our team members and to the American public. I accept full responsibility for all unethical sales practices in our retail banking business. I am fully committed to doing everything possible to fix this issue, strengthen our culture and take the necessary actions to restore our customers’ trust.”

Full testimony below…

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4closureFraud.org

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Comments
One Response to “Stumpf Prepared Remarks: ‘I am deeply sorry’ But Won’t Resign”
  1. Tom says:

    This is just more proof of how the banksters can get away with massive fraud and have nothing happen to them.
    The only reason they say they are deeply sorry is because they are sorry they got caught.
    So instead of firing and prosecuting anyone at the top level executive positions, they blame it all on the lower paid employee’s and fire them. (And only fire them, but not prosecute them?)
    How can they blame the guy at the top making around $10,000 per hour and earning around $200 million for his stock ownership, and how much he has helped his shareholders make millions with the scam?
    Having those 5,300 employee’s fired also helps to soften the cost of the fine which is another good sign for shareholders.
    This is what happens when the banksters get bailed out for their other massive fraud scams, where they are actually rewarded for their criminal activity.
    They look at how nothing was really done to stop the fraudclosures and that massive scam, which still continues, so why would this have a different outcome?
    It’s just more BS talk that will never prosecute anyone in executive positions for their criminal behavior.
    They pay their small fines, which are budgeted in their scams so their profits will still be great.
    As long as the fines, or kickbacks, are made to grease the palms of those that should take actions to end the fraud, nothing changes.
    Have enough “buffers” or lower paid employee’s in place to take the fall if the fraud gets exposed, and then the execs cover their asses by playing stupid, and then say that they will supposedly put in new rules to stop the fraud from ever happening again.
    But never enforce the existing rules or laws to prosecute and jail the top executives that should be held responsible and accountable for the fraud committed under their watch.
    I imagine that if it was a smaller bank doing this, there would be a lot of people going to jail and the bank would be shut down.
    Since it is Wells Fargo, and they are one of the TOO BIG TO FAIL and TOO BIG TO JAIL banks, nothing will be done.
    It will just go back to business as usual.
    I wonder what’s going to be the next BIG BANKS banking scam that will be exposed that they get away with?
    It just proves that “white collar crime” does pay!!! Especially if you know which palms to grease!

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