Saturday, April 21, 2018

Wells Fargo

Many people are expressing concerns about the double standard in our legal system in regards to the way the FBI is doing their investigations but this is not limited to government. Wells Fargo was recently fined one billion dollars for ripping off customers. The company has assets of $1,750 billion so this will not be a major set back. More importantly not only will not one of their executives go to jail but they will receive large bonuses. Here is one example: Chief Executive Timothy Sloan's compensation package totaled $17.6 million, a 35% increase from the $13 million he received in 2016, according to documents filed Wednesday with the Securities and Exchange Commission A few years ago JP Morgan Bank paid a five billion dollar fine for their part in the mortgage scandal which brought the whole world into a financial crisis. Their assets at the time totaled $2,750 billion. Once again no one went to jail.

No comments:

Post a Comment