Wells Fargo Strikes Again

If you want to know why people in all political spectrums are angry enough to blow up stuff consider this: If any of us walked into Wells Fargo Bank and using stolen financial identities opened up a checking account, savings account, credit card account and maybe a few more credit card accounts, upon discovery, we would be accused of bank fraud and sentenced to years in prison.

Add to that total the following: an auto loan, a mortgage loan and creating an old-style “float” using newfangled EFT (eletronic funds transfer) bearing the name “shadow money” in a “shadow banking world.”

Those were all things that Wells Fargo continually committed for the last 20 years giving the false impression that its brand mattered, that they had more business than they really did, that they had mroe accounts —depository and loan accounts — than they really did and all based upon lies. I’ve done the research based upon public information — they didn’t do it once; they did it approximately 8 million times negatively impacting around 3 million people.

If any mere mortal did that they would be away for the rest of their adult life. We know that. What we don’t know and what makes us angry is why multinational banks don’t pay any price for the fraud they are continually committing. Solve that and people might not be so angry.

see http://nypost.com/2017/09/05/wells-fargo-now-accused-of-unfair-home-mortgage-rate-hikes/

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