Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Well Fargo’s “sandbagger”-in-chief is leaving the giant bank with an enormous pay day--$124.6 million.
In fact, despite beefed-up “clawback” provisions instituted by the bank shortly after the financial crisis, and the recent revelations of massive misconduct, it does not appear that Wells Fargo is requiring Carrie Tolstedt, the Wells Fargo executive who was in charge of the unit whose employees were responsible for opening more than 2 million largely unauthorized customer accounts--a seemingly routine practice that employees internally referred to as “sandbagging”--to give back any of her nine-figure pay.
Why isn't she going to prison? We really need some violent civil disobedience in this country to stop these kinds of things.
Are you assuming that there is proof and wells fargo gave her a pass out of the bottom of their warm heart?
Or is it just likely she knew but we aren't completely sure....it could be lower ranking employees found a way to cheat the system which I've personally seen uncovered at companies I've worked at.
If you think all these things are always "top down" and never "bottom up" or "middle down" you've never worked in corporate America. Often people at the top are clueless about these types of things unless they came up through the ranks and lets face it....people that get to that level don't come up through that low of level position.
What's the burden of proof for a good ole fashioned lynch mob like you seem to be suggesting?
Are you assuming that there is proof and wells fargo gave her a pass out of the bottom of their warm heart?
Or is it just likely she knew but we aren't completely sure....it could be lower ranking employees found a way to cheat the system which I've personally seen uncovered at companies I've worked at.
If you think all these things are always "top down" and never "bottom up" or "middle down" you've never worked in corporate America. Often people at the top are clueless about these types of things unless they came up through the ranks and lets face it....people that get to that level don't come up through that low of level position.
What's the burden of proof for a good ole fashioned lynch mob like you seem to be suggesting?
It didn't go on for years without her knowing and she didn't "retire" right before the news broke by coincidence. And even if she did, Wells Fargo's books were fraudulent. Anyone who signed off on them are guilty according to Sarbanes/Oxley whether they personally knew it or not.
Are you assuming that there is proof and wells fargo gave her a pass out of the bottom of their warm heart?
Or is it just likely she knew but we aren't completely sure....it could be lower ranking employees found a way to cheat the system which I've personally seen uncovered at companies I've worked at.
If you think all these things are always "top down" and never "bottom up" or "middle down" you've never worked in corporate America. Often people at the top are clueless about these types of things unless they came up through the ranks and lets face it....people that get to that level don't come up through that low of level position.
What's the burden of proof for a good ole fashioned lynch mob like you seem to be suggesting?
People who aren't aware of these kinds of things at that level are generally the ones who get fired. At that high a level, she doesn't have any excuses especially since it spun completely out of control by the time it was discovered. She set a culture that was reminiscent of Glengarry Glen Ross. She may not have known that this was happening but it's her job to hire the right staff who can discover the problem and prevent it from spiraling out of control.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
