Hi there,

The climate crisis, war, attacks on reproductive rights, book bans—these threats aren't looming. They are here now. If you think Democracy Now!'s reporting on these issues is essential, please sign up for a monthly gift of $10 or more. Right now, a generous donor will DOUBLE your gift, making your donation twice as valuable. We don't have a paywall or run ads, which means we’re not brought to you by the oil, gas, coal, or nuclear companies when we cover the climate catastrophe or by the weapons manufacturers when we cover war. Democracy Now! is funded by you and that’s why we need your help today. This is a challenging year for news organizations and nonprofits across the board, so please don’t close this window before making your gift. We're counting on you more than ever to sustain our reporting. Start your monthly donation of $10 or more right now and help Democracy Now! stay strong and independent all year round. Thank you so much.
-Amy Goodman

Non-commercial news needs your support.

We rely on contributions from you, our viewers and listeners to do our work. If you visit us daily or weekly or even just once a month, now is a great time to make your monthly contribution.

Please do your part today.

Donate

Elizabeth Warren to Wells Fargo CEO: You Should Be Criminally Investigated

HeadlineSep 21, 2016

In financial news, Massachusetts Senator Elizabeth Warren grilled Wells Fargo CEO John Stumpf during his two-hour testimony to the Senate Banking Committee Tuesday over a growing scandal at the major Wall Street bank involving thousands of employees who took private customer information to create 2 million fake accounts in order to meet sales targets. The scandal dates back to at least 2011, and CEO John Stumpf admits he’s known about the practice since 2013. Wells Fargo has been fined $185 million. On Tuesday, Senator Elizabeth Warren called on Stumpf to be investigated and to resign.

Sen. Elizabeth Warren: “But you squeezed your employees to the breaking point, so they would cheat customers and you could drive up the value of your stock and put hundreds of millions of dollars in your own pocket. And when it all blew up, you kept your job, you kept your multimillion-dollar bonuses, and you went on television to blame thousands of $12-an-hour employees who were just trying to meet cross-sell quotas that made you rich. This is about accountability. You should resign. You should give back the money that you took while this scam was going on. And you should be criminally investigated by both the Department of Justice and the Securities and Exchange Commission.”

The original content of this program is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License. Please attribute legal copies of this work to democracynow.org. Some of the work(s) that this program incorporates, however, may be separately licensed. For further information or additional permissions, contact us.

Non-commercial news needs your support

We rely on contributions from our viewers and listeners to do our work.
Please do your part today.
Make a donation
Top