Two million 'fake accounts'; over 5000 employees fired; and, apparently, has been going on since 2011 (or earlier?), according to CNN Money.
OK, nobody's 'perfect', "mistakes" happen, but this?
I don't know how more than 5000 employees could manage to carry out something such as this without someone or something (computer 'integrity' software?) being curious, if not even outright suspicious of 'strange' facts and figures, y'know?
Senator Elizabeth Warren (D-MA) has apparently called the scenario a "staggering fraud". Senator Warren, as we know, released "Rigged Justice: 2016" earlier this year.
So...now we have a pretty huge situation involving one of the largest banks in the world.
- A bank that, in 2015, employed over a quarter of a million people worldwide.
- A bank that operates in 35 countries, with over 70 million customers (not sure how many are "real" - yes, that's a 'dig').
- A company that, in 2014, was named the "world's most valuable bank brand" for the second (consecutive) year in certain bank industry studies.
- A bank that has quite a few 'controversies' already in its dossier.
- A company that has paid out millions in 'fines' for numerous questionable practices, procedures, and more.
I cannot grasp how America has allowed these things, except I have a keen sense that there is much more to the picture that we are not (yet) getting.
I believe this is, as the saying goes, "the tip of the iceberg", and if we look hard and deep enough, we would likely be very sad indeed.
To grasp and understand the influences of power and greed and whatever else motivates and promotes practices or behaviors which blatantly 'exploit the system and the people' is perhaps the only way to begin to see what is really going on.
As the 'iceberg' begins to reveal itself "under the surface", it becomes clearer and clearer just what it is made up of, and just how large it really is, and just how 'deceptive' the "tip that shows" really is.
I believe it is time for the Truth (with a capital "T") about this particular situation, and about this kind of thing in general...on a broad scale.
I believe our leaders need to call for an unbiased (if that's even possible) investigation into this issue, and into other similar practices being carried out by this company, as well as some of the other "icebergs" out there, too.
Because, in my (humble?) opinion, there are very likely similar goings-on within similarly large and powerful entities with little or no oversight or other forms of 'integrity assurance', simply because "they can", y'know?
In fact, I can easily find reasons to suspect that the 2008 economic debacle and ensuing threats of 'collapse' were very probably because of certain "icebergs" playing similar kinds of 'shady games'...and look how many families lost their homes and how many investors lost significantly in their stock and mutual funds.
That is, except those with the means (and the 'smarts') for investing in 'economic negativity' to help balance their gains and losses.
I believe it is time to 'stop the madness'...don't you?
Where are the online "Business Practices Offender Registries" for companies (and other entities, or even individuals) that are found to be guilty of practicing some of these things? Yes, these might become part of the 'daily news', but once 'new news' comes along, they're soon forgotten, and things tend to go back to 'status quo'.
With a free public registry, consumers would be far more informed, would be more selective, and could better understand the kinds of things some of these "icebergs" practice, oftentimes at consumers' expense.
Rigged Justice: 2016
Senator Elizabeth Warren: Kudos On "Rigged Justice: 2016"
Wells Fargo - Wikipedia
US Government Contact Information
Lady Justice Weeps