If corporations really were people, Wells Fargo would have been sent away by now.
“The Justice Dept & SEC’s settlement with Wells Fargo barely puts a dent in the bank’s $12 billion profits from the fake accounts scam,” she tweeted. “When big banks can break the law, pay a fine, consider it the cost of doing business, & go back to life as normal, nothing changes. Nothing.
“When Mayor Bloomberg was busy blaming African Americans and Latinos for the housing crash of 2008, I was right here in Las Vegas, literally just a few blocks down the street, holding hearings on the banks that were taking away homes from millions of families,” she said. “That’s when I met Mr. Estrada, one of your neighbors. … He thought he’d done everything right with Wells Fargo, but what happened? They took away his house in a matter of weeks.
, Mr. Estrada and 750,000 people like him would be compensated for the loss of their homes with checks for $2,000.that the U.S. House of Representatives Financial Services Committee will hold hearings next week on the failure of Wells Fargo to comply with its existing regulatory settlements. [that its board chair, Elizabeth Duke, and another board member, James Quigley, had resigned from the company.
One of the bank’s chief champions is legendary investor Warren Buffett, whose conglomerate, Berkshire Hathaway, is Wells Fargo’s largest shareholder. The highlight of the annual Berkshire Hathaway shareholders’ meeting in Omaha, Nebraska, comes when Buffett and his vice chairman, Charlie Munger, take questions from their adoring fans, tens of thousands of whom attend the event each year.
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