3 ms·
> Remember that Wells Fargo is the 26th largest corporation in the world. They have plenty of money. They have lots of smart people (insert your "stupid banker"
by Zenst 6y ago
> Remember that Wells Fargo is the 26th largest corporation in the world. They have plenty of money. They have lots of smart people (insert your "stupid banker" joke here) working for them.
I remembered this:
https://www.theguardian.com/business/us-money-blog/2016/oct/07/wells-fargo-banking-scandal-financial-crisis https://www.theguardian.com/business/us-money-blog/2016/oct/...
"disclosed that it would fork over $185m in penalties to regulators after an audit discovered that employees opened as many as 2m deposit and credit accounts in customers’ names but without their consent"
But do agree, however much of the market is driven by such actions and if they are right or wrong, their move will make it more inclined to happen than had they made no such move. Which is an aspect that plays out in many financial markets in various forms.
- bsanr 6y agoThis too: https://news.ycombinator.com/item?id=23053272 https://news.ycombinator.com/item?id=23053272