Thursday Sept 22, 2016
We have been following the Wells Fargo scandal. I wondered aloud in class where the Board or the Audit Committee was as this went on.
This advisor suggests Stumpf will be gone in a week.
Yes there are lots of scandals throughout Wall Street history. But now a depositor is not safe inside the bank he or she chose. As he says, that is wrong.
It would certainly send a message if the entire Board, appointed by Stumpf, got the boot along with him The bank may be TBTF but that should nto be a lifetime employment contract for the CEO and the Board.
Professor Elam 
Leave a comment