Elizabeth Warren Costs Wells Fargo Executives $60 Million

Elizabeth Warren’s public grilling of Wells Fargo CEO John Stumpf has embarrassed the bank enough to dock his pay. It’s a small step in the right direction. Cenk Uygur and John Iadarola, hosts of The Young Turks, break it down. Tell us what you think in the comment section below. tytnetwork.com/join
"For the first time since the financial crisis, a big bank is publicly forcing its CEO to give up a small part of his millions in salary and stock ― making him take at least some symbolic, personal responsibility for misconduct.
Wells Fargo CEO and chairman John Stumpf will forfeit $41 million in unvested stock, give up his $2.8 million annual salary (for a time) and get no bonus this year, the bank announced Tuesday in the wake of a massive scandal. Stumpf is hardly at risk of homelessness, though: he still has his job ― much to the consternation of critics ― and another $247 million in Wells Fargo stock he’s accumulated.
The bank also fired 5,300 low-paid workers over the past five years in connection with the scandal, none of whom, presumably, had as comfortable a safety net.
For the unusual fact that a bank CEO is facing any kind of penalty, you can thank Sen. Elizabeth Warren (D-Mass.) who has tirelessly gone after the banking industry since the financial crisis devastated the country in 2008.
Warren, who excoriated Stumpf last week in a blistering and pinpointed series of questions and non-answers at the Senate hearing over the scandal, is largely responsible for the creation of the Consumer Financial Protection Bureau. The new post-crisis regulator finally held the bank to account for defrauding millions of customers. The CFPB and the city of Los Angeles fined the bank a combined $185 million earlier this month.”*
Read more here: www.huffingtonpost.com/entry/w...
Hosts: Cenk Uygur, John Iadarola
Cast: Cenk Uygur, John Iadarola
***
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Пікірлер: 1 000

  • @roberthouse4480
    @roberthouse44807 жыл бұрын

    Where are the people who said Warren was a sellout? lol

  • @Inferno361

    @Inferno361

    7 жыл бұрын

    Robert House Right here, Warren backs Hillary which is a paid servant of Wall Street. Do you actually think some bad press or paying money that can be easily made back will change anything?? Warren betrayed Bernie and the Progressives.

  • @briangardner2798

    @briangardner2798

    7 жыл бұрын

    we dont know she's a sellout, but we know she made a terrible decision not supporting bernie from the beginning.

  • @janospergely3805

    @janospergely3805

    7 жыл бұрын

    she supported Bernie from the beginning, then switched to Hillary....

  • @jonathanhernandez3292

    @jonathanhernandez3292

    7 жыл бұрын

    here bitch

  • @TruthHurts2u

    @TruthHurts2u

    7 жыл бұрын

    Where was Warren when Sanders needed her? It's easy to yell at a piece of shit like John Stumpf, however, she couldn't be bothered to put her neck in the noose when it came time to actually pick sides.

  • @olivierl6070
    @olivierl60707 жыл бұрын

    That guy should be in prison.

  • @myratanguma8636

    @myratanguma8636

    7 жыл бұрын

    In America

  • @myratanguma8636

    @myratanguma8636

    7 жыл бұрын

    ... Actually... He could run for president

  • @grimrevan4660

    @grimrevan4660

    7 жыл бұрын

    We execute people for less.

  • @k.p.c7779

    @k.p.c7779

    7 жыл бұрын

    we execute people who have less. the almighty dollar.😆

  • @TheEmanExperience

    @TheEmanExperience

    7 жыл бұрын

    if anything he is going to get a raise

  • @pereiramariana35
    @pereiramariana357 жыл бұрын

    that lady needs to be in charge of everything, i mean it, lady you are the one i could trust to raise my children better than myself

  • @bannor99

    @bannor99

    7 жыл бұрын

    that's a badass gramma calling him out on his bullshit.

  • @filonin2

    @filonin2

    7 жыл бұрын

    +schwarg

  • @filonin2

    @filonin2

    7 жыл бұрын

    schwarg Thanks, I thought so too myself, although you made it staggeringly easy to spot you. Maybe try to not be so obviously idiotic next time.

  • @SlashinatorZ

    @SlashinatorZ

    7 жыл бұрын

    This is the Warren I respect but I lost alot of respect for her when she endorsed the queen of corruption

  • @addie1142

    @addie1142

    7 жыл бұрын

    I thought the Native American thing was worse... Bish y u lyin

  • @invaderjoshua6280
    @invaderjoshua62807 жыл бұрын

    Millions are nothing to these people. This was a slap on the wrist. They should be in prison.

  • @1955RodHot

    @1955RodHot

    7 жыл бұрын

    No shit. If an ordinary bank manager was caught stealing fifty thousand of his customer's money he'd be doing prison-time for it, but these guys steal hundreds of millions and they don't even get charged with a crime, let alone see the inside of a court room or a jail cell.

  • @Kempeth

    @Kempeth

    7 жыл бұрын

    That's probably true. But almost a quarter billion dollars? I'll take that over what would otherwise have happened: Nothing

  • @liquidminds

    @liquidminds

    7 жыл бұрын

    when doctors screw up, they are no longer allowed to practice their job. Those Bank CEOs should be banned from working in the financial sector. That would sting.

  • @ariefraiser140

    @ariefraiser140

    7 жыл бұрын

    Actually you mean after a Doctor repeatedly screws up they MIGHT get punished. Hospitals and boards protect Doctors who screw up all the time.

  • @akmal94ibrahim

    @akmal94ibrahim

    7 жыл бұрын

    Screwing up is not the same as screwing people over. The doctors's certs should be retracted after a number of screw up but these CEOs should be imprisoned

  • @asieduy
    @asieduy7 жыл бұрын

    So these INDIVIDUALS are making 125 MILLION per year while there are people in the SAME country who cannot afford 3 daily meals and are homeless. Gotta love capitalism...

  • @wolveric0

    @wolveric0

    7 жыл бұрын

    and would you like to know the saddest part? the working class is who pays taxes to keep the government running while the rich and powerful avoid them at all cost....

  • @fanofmetal1

    @fanofmetal1

    7 жыл бұрын

    yea, its not like if they pay the taxes they still wont have millions left over.

  • @KANYETHEGIANT228

    @KANYETHEGIANT228

    7 жыл бұрын

    It's not capitalism per se. It's the bastardized version America has grotesquely allowed to be manipulated.

  • @inademv

    @inademv

    7 жыл бұрын

    That's a lovely "no true scotsman" you have there, Apollo West

  • @RealCaseyAnthony

    @RealCaseyAnthony

    7 жыл бұрын

    Apollo West It's capitalism working exactly as it's intended to. It's an inherently corrupt, exploitative system that needs to be torn down.

  • @antoniolewis1016
    @antoniolewis10167 жыл бұрын

    Elizabeth Warren 2020

  • @shontaia07

    @shontaia07

    7 жыл бұрын

    i hope so

  • @italkshyt14

    @italkshyt14

    7 жыл бұрын

    Antonio Lewis Some dumbass lady said I won't for Hilary just because she's a woman. Now Elizabeth Warren is woman I would vote for.

  • @palutenaprime9192

    @palutenaprime9192

    7 жыл бұрын

    keep walkin' kaiba

  • @alita54videos18

    @alita54videos18

    7 жыл бұрын

    Are you the same seto from narutoforums?

  • @marckaptijn1

    @marckaptijn1

    7 жыл бұрын

    It should have been Warren 2016

  • @PandaOfHearts772
    @PandaOfHearts7727 жыл бұрын

    Elizabeth Warren is the hero we deserve 😢

  • @KN1GHTMARE8807

    @KN1GHTMARE8807

    7 жыл бұрын

    Yes, she is... One day we'll be at a feast, getting drunk, and telling stories of her great legends.

  • @christianalexanderthegreat8941

    @christianalexanderthegreat8941

    7 жыл бұрын

    Heroes don't sell out.

  • @automaticshelter130

    @automaticshelter130

    7 жыл бұрын

    Christian Alexander She didn't sellout, you apathetic nerd.

  • @Brokout

    @Brokout

    7 жыл бұрын

    I think she's the hero you need, you guys unfortunately have got what you deserve with Hilary and Trump. What makes you think the people of your country in any way deserve someone as just as Warren, you need to earn people like her, so far... you have to stick with what you have now.

  • @fredmart7130

    @fredmart7130

    7 жыл бұрын

    I don't think we deserve her

  • @lambda2857
    @lambda28577 жыл бұрын

    Where the Hell are the Feds? Where is the SEC, the FBI, and the Justice Department? Where, where, where?

  • @LevidelValle

    @LevidelValle

    7 жыл бұрын

    all in the pockets or the rich.

  • @LevidelValle

    @LevidelValle

    7 жыл бұрын

    of I mean.

  • @petermello55

    @petermello55

    7 жыл бұрын

    They were lobbied into their current positions by many of these executives or former ones.

  • @lambda2857

    @lambda2857

    7 жыл бұрын

    Somebody wrote, "They are out cashing checks." I inadvertently flagged your post. I sincerely apologize. I gave you a thumbs-up, then...

  • @generalsmedleybutler340

    @generalsmedleybutler340

    7 жыл бұрын

    Well the FBI is currently on full defensive mode trying not to be called weasels. Look that up if you don't know.

  • @brandonhasgo
    @brandonhasgo7 жыл бұрын

    I wish Warren would have done the same to Hillary when Bernie was running and not backed the corrupt candidate.

  • @kryptoart87

    @kryptoart87

    7 жыл бұрын

    don't you get it , it's Hillarys turn to be president. get on board or she'll kill you

  • @Wildcard120

    @Wildcard120

    7 жыл бұрын

    Yes you have to do that. However, a Warren candidacy scares me.

  • @jimsigs2108

    @jimsigs2108

    7 жыл бұрын

    Do not trust any politician. This is a wonderful example, all she did was chew this guy out. She didn't send him to jail

  • @Wildcard120

    @Wildcard120

    7 жыл бұрын

    She does not have that authority. She could ask the Justice Department to investigate for criminal acts though.

  • @moltenwhite

    @moltenwhite

    7 жыл бұрын

    I agree 100%

  • @HookedOnChronic42O
    @HookedOnChronic42O7 жыл бұрын

    dam Elizabeth Warren is crazy amazing.

  • @marvingonzalez8926

    @marvingonzalez8926

    7 жыл бұрын

    XD lol hahahahaha remind yourself never meet a woman that crazy I learn my lesson past year

  • @briankelly85
    @briankelly857 жыл бұрын

    I absolutely love her! Why is she not running for president?

  • @bannor99

    @bannor99

    7 жыл бұрын

    In some ways, she's more effective *not* being president. She can say & do things the CinC can't because he or she can have 2 sides & many lobbyists to please.

  • @craigjgomez

    @craigjgomez

    7 жыл бұрын

    Why? Wow are you clueless. She didn't want the job. The Democrats have set her up to run but obviously, she doesn't want to compete with Clinton. But, I expect that if Trump wins, Warren will run in 2020. If Hillary wins but falters, Warren will run in 2020. She has the fire in her belly so now she is where she wants to be.

  • @bannor99

    @bannor99

    7 жыл бұрын

    Craig Gomez She counted herself out pretty early and I don't think she really wants the job, at least not now and I doubt that had anything to do with Hillary.

  • @craigjgomez

    @craigjgomez

    7 жыл бұрын

    Bannor Haruchai That's what I said, she doesn't want the job. Not yet. And it did have everything to do with Hillary. She is to strong and the Democrats were behind Clinton and have been for 8 years. That's why Joe Biden bowed out. The Clinton machine wasn't going to have it any other way.

  • @labounti

    @labounti

    7 жыл бұрын

    She will in 2020 with Corey Booker. Calling it.

  • @Justin-wd2vy
    @Justin-wd2vy7 жыл бұрын

    even the Trump trolls aren't thumbs-downing this.

  • @BelCamryn

    @BelCamryn

    7 жыл бұрын

    What is there to argue, what could they take the high ground on? :P

  • @xCr00k3Dx

    @xCr00k3Dx

    7 жыл бұрын

    +Beloved Apostate "but muh corporatism!!!!!"

  • @Aeeeoi

    @Aeeeoi

    7 жыл бұрын

    Trumpsters don't care about this, they are more concerned about keeping Mexicans and Muslims out of the country more than anything else.

  • @Wolfgang14Wolfgang

    @Wolfgang14Wolfgang

    7 жыл бұрын

    Don't forget the single greatest threat to our society: SJWs

  • @giannakodakis

    @giannakodakis

    7 жыл бұрын

    I feel like Trump supporters would agree with what Elizabeth Warren is doing here, which is why they aren't thumbs-downing.

  • @armartin0003
    @armartin00037 жыл бұрын

    Not enough, but it's a start. Honestly though, many of these bankers need to be tried as traitors against the US. Also, lol on the cookie jar joke. That... was a joke right? Or, does the universe just have that amazing a sense of humor? Can you imagine if Warren had made that joke? I would have died.

  • @highlonesomed

    @highlonesomed

    7 жыл бұрын

    Yeah, they still come out with a profit even after fines and docked pay. The public shaming was great, and it's kinda amazing Warren was able to get them to do ANYthing besides act all guilty and embarrassed at the hearing. But yeah, they're not gonna stop this kinda thing altogether till some of them are sent to prison for a very long time.

  • @DirtFlyer

    @DirtFlyer

    7 жыл бұрын

    No, he really did hurt it in a cookie jar. Also, Elizabeth Warren really did hand Stumpf a plate of hors d'oeuvres that featured thinly sliced pieces of Stumpf's ass.

  • @worldshaper1723
    @worldshaper17237 жыл бұрын

    A Democrat doing a great and courageous job!! Show me one Republican doing anything even close.

  • @alexislopez8674

    @alexislopez8674

    7 жыл бұрын

    He should be in jail not paying pocket change

  • @djRoyalTee

    @djRoyalTee

    7 жыл бұрын

    They only go after Dems...and their followers are ok with that..pathetic.

  • @AbdulMqr

    @AbdulMqr

    7 жыл бұрын

    Trey gowdy

  • @raulquiros9597

    @raulquiros9597

    7 жыл бұрын

    Once again the republican sycophant response to anything that questions their tactics just bring up Hilary to divert from what is being talked about. This has nothing to do with Hilary it, it's about that Wells Fargo's CEO and top executives committed fraud and are not being held responsible. I'm in no way a Hilary "fan" and I have a lot of questions about her. But at the same time she has had a history of at least trying to do something right. Don't forget she's the one who spearheaded the movement for universal health care that later became Obamacare. Health care is not a privilege it a human right., Every person should get the same healthcare that the elite 1% can afford to pay for.

  • @canadian97

    @canadian97

    7 жыл бұрын

    " Show me one Republican doing anything even close." Except for Warren, the same can be said of the Democratic party.

  • @TheCaniblcat
    @TheCaniblcat7 жыл бұрын

    If CEO's and board members could be held criminally liable for the illegal actions of their corporations, they would be far less inclined to commit these kinds of fraud.

  • @TheCaniblcat

    @TheCaniblcat

    7 жыл бұрын

    What really eats me is whether you make ~$40million/year or ~$40,000/year milk still costs you ~$4/gallon. Yet those who steal milk go to jail while those who steal the monetary equivalent of a milk company go free.

  • @2Exile0

    @2Exile0

    7 жыл бұрын

    There needs to be far harsher penalties other than a fine, that is a small percentage of what you actually have. Without criminal charges and HUGE fines then why would they stop? 40 million is chump change to these guys.

  • @garyanderson9467

    @garyanderson9467

    7 жыл бұрын

    Funny how now corporations have all the benefits of being a "person but none of the accountability or responsibility.

  • @TheCaniblcat

    @TheCaniblcat

    7 жыл бұрын

    Exile20 that's why companies dump their waste illegally even when they know they'll get caught. It's cheaper to pay the fines than it is to dispose of the waste properly. The same applies here. It's cheaper to pay the fines than to act honestly towards your clients.

  • @johnedward8352
    @johnedward83527 жыл бұрын

    That's like robbing a convenient store for 200 bucks, getting caught and only giving back 60 and not even being arrested or charged.

  • @henrytonkinson1578
    @henrytonkinson15787 жыл бұрын

    He should be in prison this is bullshit

  • @MelissaHogwood
    @MelissaHogwood7 жыл бұрын

    loved Warren here. we need more of this

  • @quantumperception
    @quantumperception7 жыл бұрын

    One of the many reasons why I wish she had ran in this election; she deserves to be the one to break the female president barrier. That monumental/historical achievement will be wasted on Clinton. I would be proud to call Warren my President. She is a strong, intelligent, and (unlike Clinton) principled woman.

  • @carlosagutierrez4163

    @carlosagutierrez4163

    7 жыл бұрын

    Elizabeth Warren would serve us better as a senator

  • @snausages43

    @snausages43

    7 жыл бұрын

    Carlosa Gutierrez Yeah, but if Trump wins and turns the country into a dictatorship, I think I would have rather had her as a president.

  • @adc8655

    @adc8655

    7 жыл бұрын

    +Spartacus of Thrace this is what she does. It's just progressives were hoping for more. Her failure to have the courage to back Sanders in the primaries and potentially enact real change on wall st will mean she's going to be doing this for years to come.

  • @joeydavis9089

    @joeydavis9089

    7 жыл бұрын

    I agree. Let's do lunch!

  • @GrampiesCorner

    @GrampiesCorner

    7 жыл бұрын

    not really Hillary has done her share of taking the powerful to task

  • @kcviking2449
    @kcviking24497 жыл бұрын

    I really wish Sen. Warren would have put her hat in the ring for higher office.

  • @akmal94ibrahim
    @akmal94ibrahim7 жыл бұрын

    They should be imprisoned. And no, not in white collar prisons. In max security.

  • @akmal94ibrahim

    @akmal94ibrahim

    7 жыл бұрын

    With burglars, murderers and rapists

  • @grege5074

    @grege5074

    7 жыл бұрын

    Federal "pound me in the ass" prison!

  • @jimsigs2108

    @jimsigs2108

    7 жыл бұрын

    she belongs in jail too.

  • @tomtheeagle1

    @tomtheeagle1

    7 жыл бұрын

    +Jim Sigs. Are you a real person?

  • @jeremymerrifield7244

    @jeremymerrifield7244

    7 жыл бұрын

    Why should she be in jail ?

  • @floral-smoke
    @floral-smoke7 жыл бұрын

    *Elizabeth asks question* "The.. the board.." *Asks another questions "Well.. the..the board.." XD

  • @Ytd719
    @Ytd7197 жыл бұрын

    Dammm!! She's the gd truth why Hillary and not her!!

  • @BelCamryn

    @BelCamryn

    7 жыл бұрын

    If Elizabeth Warren runs, it will be after Hillary's presidency i'd imagine

  • @ralphinator2

    @ralphinator2

    7 жыл бұрын

    But she didn't have the courage to endorse Bernie. She should have come in February and endorsed and campaigned for Bernie.

  • @BelCamryn

    @BelCamryn

    7 жыл бұрын

    I think Warren has gotten where she is because she knows how to play the politics game, her main concern with Bernie would be if he lost after she endorsed him. She would of lost everything.

  • @leonardmacaulay9833

    @leonardmacaulay9833

    7 жыл бұрын

    Because Wall street and the big banks that control the govt would not allow it.

  • @MichaelPowers1960
    @MichaelPowers19607 жыл бұрын

    $185 million represents about 3 days worth of profits for Well Fargo. The system has been gamed so thoroughly and completely, and those at the top have become so entrenched that, short of prison, there is no way they can lose. The system has been in place for centuries. New technology over the last 3 decades has served to entrench them even further.

  • @agginswaggin
    @agginswaggin7 жыл бұрын

    She should actually run in 2020, i'd vote for her if i was american!

  • @kevinp4449
    @kevinp44497 жыл бұрын

    How those people are not in prison.?

  • @SpoopySquid

    @SpoopySquid

    7 жыл бұрын

    rich people don't go to prison

  • @GoldenArmsMusik
    @GoldenArmsMusik7 жыл бұрын

    Somebody give little Madoff Federal boot camp!

  • @ArcticSlicer
    @ArcticSlicer7 жыл бұрын

    $60 million = cost of doing business. Still I am glad Warren was able to get at least some justice.

  • @christophermiller8589
    @christophermiller85897 жыл бұрын

    This guy, seriously. What weasel. ROASTED by Miss Warren. Go get em!

  • @MrKenny1914
    @MrKenny19147 жыл бұрын

    So why didn't Warren support the more liberal candidate during the primaries?

  • @carlosagutierrez4163

    @carlosagutierrez4163

    7 жыл бұрын

    because Bernie is it really a Democrat

  • @amacuro

    @amacuro

    7 жыл бұрын

    This is the perfect question because, as a Bernie supporter, here is where I defend Warren. Stuff like she just did to that crook from Wells Fargo are only possible if she's in her current position. If she spoke against Hillary, she would have made Hillary's famous black list and Warren would be sidelined in the future and we would have president Hillary having parties with the Wells Fargo CEO. Bernie was a 74 year old Jew, socialist and with 100% of the Hillary machine against him. Warren saw his chances, even though I'm sure she loves him, and said "I need to stay where I am doing what I do best, and my best chances are supporting Corruption Incarnate, Hillary".

  • @rbauer1632

    @rbauer1632

    7 жыл бұрын

    +af dadE Elizabeth Warren's net worth is $4-10 million. Needing a career is not a valid excuse. And if it is then we can forget any expectation of risk for the sake of principle. That makes for pathetic leadership. In Warren's own words that would be "gutless leadership".

  • @garyanderson9467

    @garyanderson9467

    7 жыл бұрын

    Maybe because she figured Bernie wouldn't win against Clinton's money and organization.

  • @amacuro

    @amacuro

    7 жыл бұрын

    Gary Anderson - that's exactly what i said

  • @terrycrews1760
    @terrycrews17607 жыл бұрын

    Just subbed. Wasn't a big fan of some of your older content w/ less substance and sometimes irrelevant commentary but y'all have gotten better and hit the nail on the head with this. I appreciate the education #respect

  • @JoshDTMorgan
    @JoshDTMorgan7 жыл бұрын

    "What happened to your hand, Mr. Stumpf?" "... I bought a Ford."

  • @blaze12771
    @blaze127717 жыл бұрын

    Warren laid the smackdown on that guy.

  • @MilitantAntiTheist
    @MilitantAntiTheist7 жыл бұрын

    It's more money for the shareholders then. Don't think they'll be using that money to increase wages for their employees or eliminate their aggressive overdraft fee practices.

  • @MilitantAntiTheist

    @MilitantAntiTheist

    7 жыл бұрын

    Sweederland Johnson The alt right prefers to focus on the more important issues of our day, like the new Ghostbusters film casting all females or the Mexican Spiderman.

  • @LightiningHobo
    @LightiningHobo7 жыл бұрын

    If I steal 60 bucks from a guy in the street with a gun I get jail. If I steal millions with a bank, I get a bonus at the end of the year. When you buy power, you can make it so your wrongdoings are not crimes.

  • @dothedeed
    @dothedeed7 жыл бұрын

    6:09 I love that he looked into the camera while saying that

  • @billiamc1969
    @billiamc19697 жыл бұрын

    Money means nothing to these people or bank. There is literally nothing that will happen from this. How many will be criminally charged with fraud? ZERO!!!!!

  • @billiamc1969

    @billiamc1969

    7 жыл бұрын

    Only absolute FOOLS still bank at Wells Fargo!!!!!!!

  • @2Exile0

    @2Exile0

    7 жыл бұрын

    You think it is only Wells? Plus the say the system is set up, you are not really punished. They go in make as much millions as possible then get out or when caught they fine you so much less than you already got or have. While the lower level employees are going to have an extremely hard time getting jobs now.

  • @Mephistahpheles

    @Mephistahpheles

    7 жыл бұрын

    ".... hard time getting jobs now." Ya think? "My boss told me to break the law. So I did. My company needed a scapegoat. So I was." "You're hired."

  • @xXbudred123Xx
    @xXbudred123Xx7 жыл бұрын

    That's like $600 to them.

  • @kirstencurrie6119
    @kirstencurrie61197 жыл бұрын

    60 million is a drop in the bucket to this company. To us it would be like 27 cents. Meaningless.

  • @FFVison
    @FFVison7 жыл бұрын

    "Cenk, I don't think you have any evidence that Wells Fargo wouldn't have self regulated." That had me cracking up.

  • @bunda713
    @bunda7137 жыл бұрын

    Elizabeth Warrn is Da Man!!!

  • @savannahkeller8368
    @savannahkeller83687 жыл бұрын

    SHE SHUT IT DOWNNN ❤

  • @DirtFlyer
    @DirtFlyer7 жыл бұрын

    The CFPB helped me get about $800 back from Chase Bank that they wrongfully kept from me. Not only that, but the process of working with them was super easy, and it was all laid out clearly online Chase was a complete pain in the ass prior to me going to the CFPB. I probably spent 15 hours on the phone with them in dozens of phone calls and ton of emails too. Once I got the CFPB involved Chase completely changed their tune, and they were just so polite and apologetic, and they refunded my money immediately. It was amazing! They also keep a public record of all the crap that companies do to people so they can track whether class action lawsuits needs to be started. Elizabeth Warren is brilliant, and the CFPB needs to get some kind of award.

  • @eldo59
    @eldo597 жыл бұрын

    If only the presidential debates were this tough!

  • @unitedliars
    @unitedliars7 жыл бұрын

    89 people like bank corruption

  • @john42t

    @john42t

    7 жыл бұрын

    TYT like bank corruption. They are against banking, after all.

  • @himurakenshiro2126
    @himurakenshiro21267 жыл бұрын

    that BURN!

  • @yak55x
    @yak55x7 жыл бұрын

    They aren't forfeiting anything. The board will give them more stock options to make up for it.

  • @robbiebobby267
    @robbiebobby2677 жыл бұрын

    This made very little difference. The CEO said in the clip with Warren that the board was working on docking his pay, he just didn't dock it himself. This guy needs to be jailed.

  • @mertz313
    @mertz3137 жыл бұрын

    This is the first time I've seen a TYT video have a decent like to dislike ratio lol

  • @Demonkingx5
    @Demonkingx57 жыл бұрын

    His ass should be in prison.

  • @STSWB5SG1FAN
    @STSWB5SG1FAN7 жыл бұрын

    Now they should take those bonuses and return them to the customers (in the form of refunds for banking fees) and NOT charge them any fees for the next year.

  • @nier3434
    @nier34347 жыл бұрын

    disgusting that those bonuses dont go to the employees

  • @KANYETHEGIANT228
    @KANYETHEGIANT2287 жыл бұрын

    "Just let the criminals punish themselves." - America's business class on itself.

  • @akireon5440
    @akireon54407 жыл бұрын

    Bernie Sanders and Elizabeth Warren would've been an amazing combo. But here we are stuck with Dumb & Dumber.

  • @realtalk7685
    @realtalk76857 жыл бұрын

    I was a retail banker at Wells Fargo for 3 years and can attest to the pressure that was exerted upon you to hit your daily/weekly sales goals. You were rewarded and promoted for being unethical and heralded as an example for other bankers to model. It's systemic and not an isolated incident.

  • @kevisa1878
    @kevisa18787 жыл бұрын

    How can the people verify the restitution will be repaid?

  • @havdaironman
    @havdaironman7 жыл бұрын

    They docked these guys 60m out of the 600m, and give back another 200, so they are still keeping 300m and the "senior management" are all keeping their money except the two who made the most.

  • @lau_dhondt
    @lau_dhondt7 жыл бұрын

    This sort of fraud has a devastating effect on society. It should be regarded as a capital crime.

  • @StannisHarlock
    @StannisHarlock7 жыл бұрын

    I bet none of them ever see the inside of a prison.

  • @TimBradleyFromOz
    @TimBradleyFromOz7 жыл бұрын

    *But no executive in Jail?!* These fines are pocket change for a $1.9 TRILLION corporation. _Literally about 0.005%._ *EDIT: Oops. Closer to 0.007%*

  • @sailingmaster
    @sailingmaster7 жыл бұрын

    So why aren't they being tried for racketeering? Aren't the RICO laws specifically for things like this?

  • @cattigereyes1
    @cattigereyes17 жыл бұрын

    Odd the voice and video are off At the end!

  • @dmilz
    @dmilz7 жыл бұрын

    6:35 has to be one of the funniest segment of this video.. what wouldnt you do for 125 million dollars? "Vote trump" Lmaoo

  • @jamiecox2256
    @jamiecox22567 жыл бұрын

    Now when all of these crooks get grilled like this, called out and put in prison where they belong......that's when i will believe our freedoms haven't "all" been auctioned off to the highest bidder!

  • @snoopy3527
    @snoopy35277 жыл бұрын

    They should give the customers back their money plus interest.

  • @dolamitic
    @dolamitic7 жыл бұрын

    Did they give any money back to their customers?

  • @TheLetterhack
    @TheLetterhack7 жыл бұрын

    Trump calls Warren "Pocahontas"...he wishes he was as tough.

  • @sycoticdeninard7480
    @sycoticdeninard74807 жыл бұрын

    Someone needs to go to jail for this.

  • @stanmrak68
    @stanmrak687 жыл бұрын

    Fines are not going to stop this behavior. They'll just be more careful in the future, and now they're motivated to replace their losses. If they're not in jail, they will keep going.

  • @garytsang5673
    @garytsang56737 жыл бұрын

    I remember a guy selling untaxed cigarette before they brought it up...

  • @naoise555
    @naoise5557 жыл бұрын

    60 Million!? That's nearly half his pension. How is that poor man going to live off of just a few... tens... of millions... of dollars

  • @wlp112
    @wlp1127 жыл бұрын

    $60 million is still not enough.

  • @movaughn20
    @movaughn207 жыл бұрын

    It's weird this whole situation all the sudden came to light. I live in rural NW, girlfriend back in the 90's always complained about this. I thought it was common knowledge. Why do you think employees try so hard to sell you an other savings, credit accounts, etc. It's basically like working at used car lot, don't make the sales, axed, next fresh face takes the job.

  • @shontaia07
    @shontaia077 жыл бұрын

    Elizabeth Warren should moderator the next debate

  • @rvrx2004ify
    @rvrx2004ify7 жыл бұрын

    so about a 20 dollar fine for every unauthorized account, and keep your millions and your job. ..

  • @geotom2023
    @geotom20237 жыл бұрын

    reminds me of post housing crisis senate hearings 2008..

  • @stevewest5397
    @stevewest53977 жыл бұрын

    What happened at Wells Fargo is absolutely going to or is already happening at major Canadian banks. The insane yearly increase in sales goals was forcing the top sales people in the bank I worked for to do almost this very thing over 10 years ago, and I can only imagine what's happened since then. So glad I got out.

  • @whartanto2
    @whartanto27 жыл бұрын

    Buffett owns 10% of Wells Fargo. If that CEO was overpaid, he won't be around just because the boards are his buddies.

  • @jayPecentage
    @jayPecentage7 жыл бұрын

    I love these curse free reporting.. keep it up!

  • @AWildBard
    @AWildBard7 жыл бұрын

    I think all the executives up the chain of command should all be put in jail, and not only return all the money they took from their clients, but they should reimburse them double whatever was taken. These crimes are much worse than petty theft. Thousands of low-level employees lost their jobs. There is no way this executive was punished enough with 41 million when that's only a fraction of what he earns, and everything he earns is unnecessary money. The people who lost their jobs could lose their homes. They may have ruined their careers. It could affect the rest of their life. The CEO would only lose some ego points. He has enough money to retire and live very well.

  • @gregkelly9775
    @gregkelly97756 жыл бұрын

    Fantastic.. Keeps me going.

  • @boonheritage6566
    @boonheritage65667 жыл бұрын

    Last month WFC collection department called me more than 10 times. Since I don't respond to unknown number, I went to Wells Fargo branch after I found out who is calling,

  • @boonheritage6566

    @boonheritage6566

    7 жыл бұрын

    The bank clerk called collection department to find out what is going on. He got nothing and he couldn't answer why they are calling me. He just said everything is fine. I think now I know the reason why they kept calling me. It was about my 7-8 OTHER ACCOUNTS WHICH I DIDN'T KNOW I HAVE. I have decided to take all my money out and closed my checking and saving account.

  • @hellcat1988
    @hellcat19887 жыл бұрын

    HELL YEAH! It's a small victory, but we'll take it!

  • @OMG_BeCkY
    @OMG_BeCkY7 жыл бұрын

    Will he be on the next season of Undercover Boss?

  • @criticalthinking5077
    @criticalthinking50777 жыл бұрын

    Losing your financial reward is not punishment for engaging in fraud. Losing your freedom and being sent to prison is punishment for engaging in fraud. This is why the corruption will never stop because the cost/earnings ratio still favours engaging in fraud because your earnings will still outweigh your penalties. Look at all the recent penalties the banks had to pay. The penalties were pennies compared to their profits. All penalties must include significant prison time.

  • @05684984987kughpuih
    @05684984987kughpuih7 жыл бұрын

    Wealthy rich people never go to prison, its sad but true.

  • @carolmckee8456
    @carolmckee84567 жыл бұрын

    Do these fines go to the injured parties? Probably not.

  • @gaymo69
    @gaymo697 жыл бұрын

    everyone wants the soundbite

  • @sgswank
    @sgswank7 жыл бұрын

    This is why I belong to a credit union.

  • @MrKhushrenada
    @MrKhushrenada7 жыл бұрын

    So he's gonna pay some petty cash, and isn't going to jail. Yay justice!

  • @concernedvoter1604
    @concernedvoter16047 жыл бұрын

    So thousands of low-level employees were all randomly doing this at the same time in the same locations without the awareness and coordination of high-ranking executives? How is that even possible?

  • @HNW00
    @HNW007 жыл бұрын

    And they slip him $200 million around the back....

  • @kimsoger8267
    @kimsoger82677 жыл бұрын

    They also made Billions in overdraft/atm fees during this same period. Creating these accounts were felonies and No One Went to Jail. This is terrible.

  • @steffensclaudia
    @steffensclaudia7 жыл бұрын

    I don’t live in the US but this was beautiful to watch. Some honest don`t beat around the bush, honest, put the responsibility where it belongs politics.

  • @barrynichols2846
    @barrynichols28467 жыл бұрын

    I have the same level of anger for these bankers

  • @josix8189
    @josix81897 жыл бұрын

    What happens to the $185 million and other fines? Does any of that money pay restitution to the 5300 fired low-level employees who may never find work again? Is anybody looking out for them?

  • @Henchman_Holding_Wrench
    @Henchman_Holding_Wrench7 жыл бұрын

    Fuck! I'm always rooting for this kind of proceeding and that even hurt my soul. That was more devastating than the "I'm disappointed" speech from good parents. I haven't felt this since that video of Putin talking down to Oleg Deripaska.

  • @grogan1970
    @grogan19707 жыл бұрын

    Wells Fargo's reputation is ruined. They will be out of business here shortly. Hopefully this CEO and the upper execs will be in jail by then.

  • @nikolasb2933
    @nikolasb29337 жыл бұрын

    NO BODY is worth 125 million dollars!!!!

  • @jonathandominguez2273
    @jonathandominguez22737 жыл бұрын

    Cookie jar burn! Lol