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The government should've instead created a "fine" where they receive something like half of Wells Fargo's profits for the next ten years or so. Then cap executi
by bedhead 8y ago
The government should've instead created a "fine" where they receive something like half of Wells Fargo's profits for the next ten years or so. Then cap executive compensation for the duration. Then force every board member to resign and have a regulator on the board. All for the next decade. These one-and-done fines that are paid by shareholders instead of management, even large ones, do nothing...do something with lasting consequences if you want to punish, modify behavior, and put the fear of god into others considering cheating.
- traviscj 8y agoYour plan is to loop the government/regulators into the scam? What exactly is that incentivizing and how does that improve things for the average bank customer?