Courtesy of UPROXX:
During a Senate Banking Committee hearing, Senator Warren joined panel Chairman Richard Shelby (R-Ala.), Sherrod Brown (D-Ohio) and others to grill Stumpf about his knowledge of and participation in the scam. Warren’s cross-examination was particularly tense, as the senator had to repeat her questions three or four times before they were answered to her satisfaction.
“Mr. Stumpf, the Wells Fargo Vision and Values statement, which you frequently cite, says ‘We believe in values lived not phrases memorized. If you want to find out how strong a company’s ethics are, don’t listen to what its people say, watch what they do.'” Warren quoted. “So, let’s do that. Since this massive years-long scam came to light you have said repeatedly, ‘I am accountable.’ But what have you actually done to hold yourself accountable? Have you resigned as CEO or chairman of Wells Fargo?” Stumpf admitted that he had not resigned, nor had he returned any of his earnings to the company or fired any top executives.
“You haven’t resigned, you haven’t returned a single nickel of your personal earnings, you haven’t fired a single senior executive,” Warren said. “Instead, evidently, your definition of ‘accountable’ is to push the blame to your low-level employees who don’t have the money for a fancy PR firm to defend themselves. It’s gutless leadership.”
The reason that Strumpf finds himself being treated like a puppy's chew toy by Elizabeth Warren is because his company just paid a 185 million dollar fine for opening fake accounts for its customers in order to make a profit without their knowledge.
This is fraud, and if Senator Warren hates anything, it's fraud.
I don't know about all of you but I could not help fantasizing about what it would be like to watch Warren laying a smackdown like this on Trump's running mare Mike Pence in a VP debate.
I know, I know, that ship has sailed.
But you can't blame a guy for wondering what if?
Source http://ift.tt/2d0kWW3
During a Senate Banking Committee hearing, Senator Warren joined panel Chairman Richard Shelby (R-Ala.), Sherrod Brown (D-Ohio) and others to grill Stumpf about his knowledge of and participation in the scam. Warren’s cross-examination was particularly tense, as the senator had to repeat her questions three or four times before they were answered to her satisfaction.
“Mr. Stumpf, the Wells Fargo Vision and Values statement, which you frequently cite, says ‘We believe in values lived not phrases memorized. If you want to find out how strong a company’s ethics are, don’t listen to what its people say, watch what they do.'” Warren quoted. “So, let’s do that. Since this massive years-long scam came to light you have said repeatedly, ‘I am accountable.’ But what have you actually done to hold yourself accountable? Have you resigned as CEO or chairman of Wells Fargo?” Stumpf admitted that he had not resigned, nor had he returned any of his earnings to the company or fired any top executives.
“You haven’t resigned, you haven’t returned a single nickel of your personal earnings, you haven’t fired a single senior executive,” Warren said. “Instead, evidently, your definition of ‘accountable’ is to push the blame to your low-level employees who don’t have the money for a fancy PR firm to defend themselves. It’s gutless leadership.”
The reason that Strumpf finds himself being treated like a puppy's chew toy by Elizabeth Warren is because his company just paid a 185 million dollar fine for opening fake accounts for its customers in order to make a profit without their knowledge.
This is fraud, and if Senator Warren hates anything, it's fraud.
I don't know about all of you but I could not help fantasizing about what it would be like to watch Warren laying a smackdown like this on Trump's running mare Mike Pence in a VP debate.
I know, I know, that ship has sailed.
But you can't blame a guy for wondering what if?
Source http://ift.tt/2d0kWW3
