Wells Fargo corruption 3.5 million MORE fake accounts and climbing

The VilleThe Ville Posts: 457 Deckhand
My dealing with Wells Fargo was nothing but corrupt lying organization. We keep seeing this level of corruption from the banking and financial institutions people need to be put in prison and for a long time. Obama held NO one accountable. When the people who are employees anywhere else are held accountable so why aren't bank employees. I know why Obama didn't want to arrest people because there would have been millions of bank employees put in jail for this crap. Arrest them when you ask them about this they all just say I didn't know this was happening, gosh we were doing that? They like most Americans actually thought the government was the cause of the crash, it wasn't the fractionalized lending practices (which is a felony until they got it to become a law and made it legal)? It wasn't the complete greed. It wasn't the government who MADE them loan people money (complete farce they can't make them do crap) for housing. They need to put people in jail or here come BOA and the rest of them again.
It's not my job to provide your education look it up yourself!

Replies

  • mplspugmplspug Palmetto FloridaPosts: 8,628 Admiral
    This smells like smoke from a politics fire.

    I guess I am not understanding fake accounts and then jumping to the economy tanking?

    Captain Todd Approves

  • The VilleThe Ville Posts: 457 Deckhand
    mplspug wrote: »
    This smells like smoke from a politics fire.

    I guess I am not understanding fake accounts and then jumping to the economy tanking?

    I was having a beer with a senior exec at BOA. He told me how they would open an account to transfer a failing or bad account into it. It would "hide" that account. There's a many reasons to do this none of them any good. You borrow money and can't payback the loan, loan exec shouldn't have written the loan again for many reasons, financial inept, corruption, misleading, bad paper work and that exec could be held accountable they open new account and hide it.They want the commission on said loan so they will hide it. Open accounts without permission, again they want their commission and to look good. Open accounts on stated income instead of proven and on and on......

    Bad accounts, bad loans and fractionalized lending practices is what doomed us into the recession. Fractional-reserve banking was corrupt, BOA was at 290%. Wamu was at 190%. JP Morgan Chase was at 230%, Goldam Sachs was at 330%. Legal limit was set at 95% which is still a joke. When you and I were growing up plug :banana they lent money on prior year earnings. Now they lend money on your deposit dollar and they can loan up to 95% of that deposited dollar but they all ignored it, broke their own law and doomed us. Most Americans bought the "status quo" response on the subject. Now if Wells Fargo has millions of these fake accounts again can you imagine if the rest of these institutions do as well? Fractional-reserve banking practice being abused again............Fake loans again.....
    It's not my job to provide your education look it up yourself!
  • Mister-JrMister-Jr Posts: 27,685 AG
    As long as money flows in Congressmen's PAC, they will ignore this issue. There is nothing more important than retaining their seats.

    The Fed should remove all members of the board.
    Vote for the other candidate
  • The VilleThe Ville Posts: 457 Deckhand
    Mister-Jr wrote: »
    As long as money flows in Congressmen's PAC, they will ignore this issue. There is nothing more important than retaining their seats.

    The Fed should remove all members of the board.

    I bet you a million to one they ain't the only one.........The Fed should remove all members of the board ^@%#$%# right they should.
    It's not my job to provide your education look it up yourself!
  • Mister-JrMister-Jr Posts: 27,685 AG
    Try doing this as a private citizen, then report back.

    But it's been tough, as new revelations keep coming. Wells Fargo said last month that roughly 570,000 customers were signed up for and billed for car insurance that they didn't need or necessarily know about. Many couldn't afford the extra costs and fell behind in their payments, and in about 20,000 cases, cars were repossessed.
    Vote for the other candidate
  • The VilleThe Ville Posts: 457 Deckhand
    Mister-Jr wrote: »
    Try doing this as a private citizen, then report back.

    But it's been tough, as new revelations keep coming. Wells Fargo said last month that roughly 570,000 customers were signed up for and billed for car insurance that they didn't need or necessarily know about. Many couldn't afford the extra costs and fell behind in their payments, and in about 20,000 cases, cars were repossessed.

    System of corruption and their employees all know it. They all need to go to jail.
    It's not my job to provide your education look it up yourself!
  • Baits OutBaits Out Posts: 12,331 AG

    A southeast Florida laid back beach bum and volunteer bikini assessor who lives on island time. 
  • SAENoleSAENole Posts: 10,555 AG
    Mister-Jr wrote: »
    As long as money flows in Congressmen's PAC, they will ignore this issue. There is nothing more important than retaining their seats.

    The Fed should remove all members of the board.

    Can't argue with that.
    Warning Level 2
  • dragon baitdragon bait Posts: 7,076 Admiral
    The Ville wrote: »
    System of corruption and their employees all know it. They all need to go to jail.

    Have no fear charges will be filed soon
    :rotflmao
  • Soda PopinskiSoda Popinski GrovelandPosts: 10,858 AG
    Have no fear charges will be filed soon
    :rotflmao

    Is there a holding your breath emolji?
    People use statistics the way a drunk uses a street light, for support rather than illumination.
  • dragon baitdragon bait Posts: 7,076 Admiral
    Is there a holding your breath emolji?

    Pardon?
  • Soda PopinskiSoda Popinski GrovelandPosts: 10,858 AG
    Pardon?

    The phase "don't hold your breath" was what i was referring to, I doubt charges will be filed and if they are I doubt any serious prison time will come of it.
    People use statistics the way a drunk uses a street light, for support rather than illumination.
  • The VilleThe Ville Posts: 457 Deckhand
    The phase "don't hold your breath" was what i was referring to, I doubt charges will be filed and if they are I doubt any serious prison time will come of it.
    Have no fear charges will be filed soon
    :rotflmao

    Really pisses me off, really pisses me off your probably right.
    It's not my job to provide your education look it up yourself!
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