Rep. Gregory Meeks Destroys Wells Fargo CEO John Stumpf: House Financial Services Committee Hearing

“I got individuals right now who are on the street, on the street, they’re not back in their homes. They had these fraudulent mortgages. Nobody has said, oh I’m sorry that we gave you these fraudulent mortgages, we gonna put you back in your home and we are going to make sure that everything is ok. No one has done that for them. You haven’t volunteered to do that. Will Wells Fargo put people back in their homes?”


Rep. Gregory Meeks Destroys Wells Fargo CEO John Stumpf: House Financial Services Committee Hearing

Rep. Gregory Meeks (D-N.Y.) said Stumpf was running a “criminal enterprise,” noting the bank had been penalized multiple times during the CEO’s leadership, and should step down.

“I serve at the pleasure of the board,” Stumpf responded.

“Then the entire board needs to go,” Meeks said. “Something is going wrong with this bank. If the bucks stops with you,” then you should be held responsible.


7 Responses to “Rep. Gregory Meeks Destroys Wells Fargo CEO John Stumpf: House Financial Services Committee Hearing”
  1. Tom says:

    They finally proved what I’ve said. The fines they pay are already built in their scam budgets.
    They make billions on the scams, pay out a very small portion in fines to make it look like they are receiving harsh penalties, and they still make huge profits.
    No one goes to jail, so they have no fear of prosecution.
    And where do those fines go?
    Or are the fines just another way for the other’s involved to collect their kickbacks?

    As far as the BS shadowing banking mortgages, it was very clear that those were used to fleece millions in that scam from the start. The banks destroyed millions of families lives for trying to own part of the American dream of home ownership.
    Those homeowner’s were just used as a funnel, or middlemen, that allowed the banksters to go from the phony mortgages to the insurance payouts.

    I was one of those that could have paid off the mortgage in full, but they blocked that from happening and still forced the fraudclosure. That was through the massively corrupt Chase Bank!
    In my case, they were after the Private Mortgage Insurance.
    As I was told, the PMI, through the government, paid the banksters 80% of the loan amount, and they resold my home later at about 50% less than what I owed, and they still made more profit than if they accepted my full payoff payment.

    And then to find out later that my mortgage was VOID to begin with?
    I think they owe me a lot of money!
    So for now I just enter that theft on my tax forms and carry it over every year with added Late Fees, Interest, and then add in a Law Enforcement Noncompliance Fee.
    Add in the interest at PayDay Loan rates of 499.99% per month, compounded daily.
    What the heck, the banksters sit back and think of ways to rip everyone off, so we should have the same rights to do whatever we can do for ourselves for our own protection, since they have made it very clear that they only protect the wealthy corrupt.
    The courts are bought and paid for, so trying to receive justice there anymore is gone!

    These BIG banks need to be shut down already!
    And they need to prosecute and serve all those involved with very long jail sentences.
    Plus they should repossess all of their property and also use that to pay restitution to the victims of the banksters scams.
    And forever ban them from returning to those professions after being released.

    But it is as Mike says, all a BS show! For now!
    I bet if they looked into it deeper, they’d discover that there are quite a few from Congress that were also involved in the scams, one way or another.
    So it will most likely remain a BS show!
    They aren’t about to prosecute themselves for using and abusing their professions too!
    Hillary has proven that many times over! They are all above the laws!

    The second round of fraudclosures is already in the works.
    They have also streamlined the process to get the homeowner’s out of their homes within 6 months or less too!
    So it is back to business as usual!

    I wonder what BIG banking scam will be exposed next?

    • Tom says:

      As far as the next banking scam?
      From what I have read, Wall Street wants the FED to start buying stocks (instead of only buying bonds with the Stealth QE infinity program) to help keep their prices up.
      Another bailout scam to keep their false economy going strong for the people at the top.
      This whole system we live in has become just one massive fraud put on its own citizen’s and most people don’t even see it happening yet.

  2. mike Drouin says:

    and there it is …. They know that the Mortgages are a LIE !!!!!! but what happens when we cancel the bogus Mortgage by operation of law ?????????????????????????????????????????? You still lose your home ???

  3. Wells Fargo Customer says:

    How come the wells fargo foreclosure manual is not being mentioned. They completely documented their fraud on how to create from scratch missing loan files. I just don’t get why people are surprised here. They intentionally stole people’s homes they had no legal right to. You cannot discuss the future of a bank with looking at their past.

  4. mike Drouin says:

    So Congress knows that our alleged Mortgages were Fraudulent !!! If the Banksters broke the law , then why aren’t we afforded the protection of the Law ??? Congress can bitch all they want , but if they aren’t going to enforce the law , then it’s nothing but a BS show !!!!

  5. mike Drouin says:

    Unbelievable !!! Can you see how the Banksters minds work , and how they want to Redefine criminal activity ???? We make MISTAKES and we are sorry !?!? are you kidding me ???? Where the heck have I heard that argument before ???? Oh Ya …. Hillary Clinton !!!!!! I made a mistake using my private server and I take full responsibility for it !?!? NO , You broke the ;Law and should be held accountable for it !!!!! Our system is corrupt as hell !!!!

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