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Even the quote you cited doesn’t “vilify” anybody. It points out exactly what I described above: Wells Fargo execs created a situation with perverse incentives,
by akerl_ 7y ago
Even the quote you cited doesn’t “vilify” anybody. It points out exactly what I described above: Wells Fargo execs created a situation with perverse incentives, no oversight, and reckless disregard for both, which led to low-level bankers predictably misusing the system. It’s not in dispute that the low-level bankers were the ones creating the fake accounts, and as the article notes, this wasn’t even desirable for the execs: they wanted the accounts because accounts lead to income, but faked accounts do not lead to income.
Your comment again points to some perceived inability on my part to “hold executives accountable”, citing some flaw with my principles. I’d invite you to review the site guidelines and my comments: at no point have I suggested that the executives aren’t culpable in both the Boeing and Wells Fargo examples. You seem to be inferring that empathy is incompatible with judgement, and that misconception is basically the heart of what I’m trying to call attention to in this exchange.
- rectang 7y ago> they wanted the accounts because accounts lead to income Why is it a given that low-level retail bankers wanted faked accounts for the sake of their income, yet it is outside the realm of possibility that Carrie Tolstedt wanted faked accounts because they led to income for her — to the tune of tens of millions of dollars? Why is it utterly inconceivable that Carrie Tolstedt is corrupt?
- akerl_ 7y agoYou seem pretty dead set on imagining that the only options are cartoon villainy or total innocence. I’m not sure how else I can frame the above points, given the continued selective quoting and misreading of the cited articles (notably, the Wells Fargo incident was not net-profitable for Wells Fargo, and was barely profitable at all even before all the government-imposed penalties). I guess we’ll have to agree to disagree about the strength of my principles.
- deleted 7y ago[deleted]