Wells Fargo Plunges 9%, Biggest Drop Since August 2015 “ETFlash Crash”

Wells Fargo Plunges 9%, Biggest Drop Since August 2015 “ETFlash Crash”:

Following Friday’s shocking Fed crackdown, Wells Frago stock is reeling on Monday morning, tumbling as much as 9%, its biggest intraday drop since the August 2015 ETFlash Crash.

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“This Is A Full-Blown Scandal: It’s Unbelievable, Outrageous” – Comptroller Demands Heads Roll At Wells Fargo

“This Is A Full-Blown Scandal: It’s Unbelievable, Outrageous” – Comptroller Demands Heads Roll At Wells:

Wells Fargo is in boiling hot water. Again.

One day after the NYT reported the latest major scandal involving Warren Buffett’s favorite bank, in which the bank was busted less than a year after its miss-selling fraud cost the former CEO his job, revealing that the bank charged some 800,000 customers for auto insurance they did not need (with some still paying for it), the demands for resignation have arrived.

Read more“This Is A Full-Blown Scandal: It’s Unbelievable, Outrageous” – Comptroller Demands Heads Roll At Wells Fargo

Seattle Just Divested Billions From Wells Fargo Over Dakota Access Pipeline

Seattle Just Divested Billions From Wells Fargo Over Dakota Access Pipeline:

By: J. Gabriel Ware James Trimarco  From: Common Dreams

The movement to stop the controversial Dakota Access pipeline through financial activism took an important step forward today, as the Seattle City Council voted 9-0 to approve a bill that terminates a valuable city contract with Wells Fargo. The bank, one of the largest in the United States, has provided more than $450 million in credit to the companies building the pipeline.The move makes Seattle the first city to divest from a financial institution because of its role in the Dakota Access pipeline, a $3.8 billion project that would run from western North Dakota to Illinois, and is fiercely opposed by the Standing Rock Sioux Tribe. Wells Fargo is one of 17 banks directly financing the project.

Read moreSeattle Just Divested Billions From Wells Fargo Over Dakota Access Pipeline

I Went To A Wells Fargo Branch, This Is What Happened Next

hedgeless_horseman comments at ZeroHedge:

They have learned nothing?

They have convinced you to come to their place of business, regularly, for more than a decade.

They have convinced you that since you are not aware that they are opening fake accounts in your name, then it isn’t happening.

They have learned that they can privatize gains, socialize the losses, and all it costs them is a few small campaign contributions.

Sounds to me like it is the author that has learned nothing.

http://www.zerohedge.com/news/2016-01-06/hedgelesshorsemans-revolutionar…

6.  Read The Creature from Jekyll Island: A Second Look at the Federal Reserve – 5th Edition, by G. Edward Griffin.


I Went to a Wells Fargo Branch, this is What Happened Next:

They have learned nothing.

I walked into my Wells Fargo branch to put my data backup into my safe deposit box, as I’ve been doing for a decade. This routine business turned into a wake-up call about safe deposit boxes and churned up insights into how Wells Fargo conducts to this day its cross-selling efforts: the algo makes them do it!

To clarify, I’m a happy customer. Wells Fargo handles day-to-day banking for me and my vast WOLF STREET media-mogul-empire corporation. The people are nice, and I have not yet noticed any fraudulent accounts in my name.

It doesn’t bother me that every time I call one of the national numbers with a problem or question, I have to swat away their offers of “pre-approved” credit cards, lines of credit, or other high-margin products. Having run a car dealership earlier in my life, I appreciate the art of aggressive cross-selling. However, we never-ever did it over the phone! We waited till we saw the whites of their eyes.

Read moreI Went To A Wells Fargo Branch, This Is What Happened Next

In Dramatic Twist, Wells Fargo Said To Retaliate, Fire Whistleblowers Who Exposed Bank’s Illegal Practices

In Dramatic Twist, Wells Fargo Said To Retaliate, Fire Whistleblowers Who Exposed Bank’s Illegal Practices:

Wells Fargo admitted to firing 5,300 employees for engaging in illegal, fraudulent tactics. Now, CNN is reporting that it spoke with numerous former Wells Fargo workers around the country who tried to put a stop to these illegal tactics. Almost half a dozen workers who spoke with us say they paid dearly for trying to do the right thing: they were fired.

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Elizabeth Warren Slams Wells’ CEO Stumpf: “You Should Resign, You Should Be Criminally Investigated”

Elizabeth Warren Slams Wells’ CEO Stumpf: “You Should Resign, You Should Be Criminally Investigated”:

You should resign, you should give back the money you made while this scam was going on, and you should be criminally investigated by the Department of Justice and the Securities and Exchange Commission. The only way Wall Street will change is if executives face jail time when they preside over massive frauds.

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