Discussion: Feds To Fine Wells Fargo $1 Billion For Abuse Tied To Auto-Lending, Mortgages

Maybe tRump will issue a pardon :grin:

Maybe they should have tried selling steaks.

How will this 1 Billion be paid and tracked? Where will it come from and where will it go? With all the fines being levied against corrupt businesses, our tax burden should be significantly reduced. Is it?

Depends. Are you the CEO of a major bank?

And of course, exactly NO ONE will go to prison for fraud or any other charge. The fine will hit the shareholders and can probably be written off to further the 3.9 billion tax cut the GOP already gave the banks this year. I hate this country.

This is nothing more than the cost of doing criminal business. WF is so deeply corrupt and criminal that it simply plugs in the fines and penalties and calculates how much must be stolen from customers in order cover that cost. It’s exactly like what the auto industry does when contemplating a recall; if the legal fees, settlements and fines are less than the future profits, no need to recall dangerous autos. Making America Great Again, One Crime at a Time.

Thank goodness! No criminal charges for any in this well-dressed luxury mafia. They can get on with their ‘business’ The 1 billion in fines? Wells Fargo’s market capitalization is about 250B$. Business as usual.