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If Wells Fargo’s CEO were genuinely sorry, he’d pay the price

Rogue Valley

Lead or get out of the way
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If Wells Fargo’s CEO were genuinely sorry, he’d pay the price


But, alas, John Stumpf won’t resign or personally cover all penalties and fines....


stumpf-440x240.png

Wells Fargo CEO John Stumpf"s company stock shares increased in value by
many millions of dollars due to the phony accounts scam. After fattening up his
retirement nest-egg, Stumpf fired over 5,000 employees who followed company
orders and yesterday told members of Congress that he "was sorry about it all".
 
Wells Fargo has a center in Reno. I get a lot of horror stories about the sales pressures causing stress. Like stress causing heart attacks. Not even joking. Sounds like WF created an environment where it was sell at any and all costs in order to recoup the losses caused by upper management decisions.
 
Simpleχity;1066337988 said:
If Wells Fargo’s CEO were genuinely sorry, he’d pay the price


But, alas, John Stumpf won’t resign or personally cover all penalties and fines....


stumpf-440x240.png

Wells Fargo CEO John Stumpf"s company stock shares increased in value by
many millions of dollars due to the phony accounts scam. After fattening up his
retirement nest-egg, Stumpf fired over 5,000 employees who followed company
orders and yesterday told members of Congress that he "was sorry about it all".

If we had imposed mandatory recordings of the activities of persons with large responsibility, we would know, if he broke the law. Same thing with Clinton. These people present too much risk of misuse of power and the conflicts of interest are just too large to allow them the privacy of non recorded moments. That is too dangerous for too many citizens. If they do not want the evidence stored, they need not have the job.
 
IMO, if you put unrealistic goals up for the sales department, and fire or discipline them for not reaching them, you are asking for it.

It's a morale killing, boiler room, high turnover, "them vs us" atmosphere you've created, and they are going to say "The hell with it. You want accounts, I'll give you accounts!" And this is what you get.

I would start by charging the department head with fraud, and conspiracy to commit fraud and see where it leads.
 
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