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I am skeptical that Tolstedt especially did not know what was happening. When you incentivize fraud so heavily, you can absolutely predict that employees will
by rectang 8y ago
I am skeptical that Tolstedt especially did not know what was happening. When you incentivize fraud so heavily, you can absolutely predict that employees will act unethically, just as you can predict that starving people will steal. I could imagine Tolstedt underestimating the scale of the fraud her system engendered, but remaining completely ignorant? Nonsense.
Even if we can't find a smoking gun email or audio recording, charges analogous to negligent homicide would be appropriate here.
- JumpCrisscross 8y ago> Even if we can't find a smoking gun email or audio recording, charges analogous to negligent homicide would be appropriate here Nobody died for having a fake checking account. (People have died because prosecutors overreached.)
- rectang 8y agoSuch stunning lack of empathy for the victims of Wells Fargo makes me want to retch. Is money just numbers to you? Those extra charges did things like trigger defaults on car loans, cascading to vehicle repossession. For people who don't have large reserves, taking a vehicle away can lead to losing your job and sending you and your family into a downward spiral.