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Wells Fargo's Business Model is Fraud;by Bernie Sanders

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'Let’s be clear, the business model of Wall Street is fraud. In my view, there is no better example than the recently-exposed illegal behavior at Wells Fargo.The CEO of Wells Fargo admitted today that he knew in 2013 the bank was scamming customers, but he took no action to fire or reprimand the senior executives in charge of supervising this activity. Instead, they were given millions in bonuses, while the value of the stock that the CEO owned shot up in value by more than $200 million. Wells Fargo’s abuse of its customers is not an aberration.  The American people cannot understand how major banks paid more than $200 billion in fines and settlements since 2008, but not one Wall Street executive was prosecuted. That has got to change.'

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I began teaching in 1963,; Ba and BS in Education -Brooklyn College. I have the equivalent of 2 additional Master's, mainly in Literacy Studies and Graphic Design. I was the only seventh grade teacher of English from 1990 -1999 at East Side (more...)
 

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