Sen. Warren to Wells Fargo CEO: "You should resign." (C-SPAN)
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- čas přidán 19. 09. 2016
- Sen. Elizabeth Warren (D-MA) to Wells Fargo CEO John Stumpf: "You should resign. You should give back the money that you took while this scam was going on and you should be criminally investigated by both the Department of Justice and the Securities & Exchange Commission." Watch the complete Senate Banking Cmte hearing here: cs.pn/2cjHUTH
I could swear that Senator Warren was about to make that CEO cry. It felt like I was watching a child being verbally destroyed and grounded by his mother for beating up other students and stealing their lunch money. This was the most satisfying thing I've seen in a long time.
Wells Fargo and Jp Morgan should be broke up due to their criminal past .
No... he should be charged, tried, and hopefully jailed. Charged with what crime, I expect some to ask? The crime of thievery. He basically made millions in bonus money that he should have never received. And he perfectly knew about the scheme.
Fraud, theft, conspiracy, maybe even racketeering.
April Shattuck
Thanks. Are any decent (i.e., not corrupt) attorneys left in America? Why isn't anyone going after this corrupt bank and its management?
No, because oligarchs like him own our government now. Nobody will ever see the inside of a prison cell for this, yet if I did the exact same thing (opened a bank account or credit card in someone else's name), you bet your ass I'd be prosecuted for identity theft. But Wells Fargo gets off with a measly $185 million fine, and they did it 2 million times! That may sound like a lot of money to us, but for Wells Fargo it's merely a rounding error. I'm sure that the amount of money they made in profits just from these 2 million unauthorized accounts was exponentially larger than this pissant little fine. When defrauding your own customers is a systemic business model, fines are just baked in to the operating cost. Bring on the corporate death penalty, if these greedy corporations are supposed to be people now.
Theft from his own company via bonuses? Good luck, lol.
No, theft, fraud and conspiracy to commit fraud against so many of their own customers. The man deserves a criminal indictment and to forever be remembered as a pariah, not a multimillion dollar bonus. And Wells Fargo deserves to have their corporate charter revoked for this. They should never be allowed to do any banking in this country ever again.
But none of that will ever happen, because these people own our government now. And that should enrage everyone, no matter where they land on the political spectrum.
This is what a first US woman president looks like.
This is what the First Female US President "should" look like.
A lying 1/32 Indian?
CardSearcher911 Much better.
Amen to that.
How is she lying?
Ingnoring her past I can respect this savagery. How could such a huge corporation run a huge scam and not be ruined. Glad she called them out.
Ignoring her past? Please enlighten me.
OMG SOMEONE GIVE THIS WOMAN AN OSCAR AWARD THIS WAS LIKE THAT MOMENT IN A MOVIE WHERE THE BAD GUY FINALLY GETS THEIRS.
This is exposure, not justice.
Yes, very Hollywood indeed.
that's right he got his 200 million dollar bonus
He didn't really get anything done to him, just someone talking badly about him. He belongs in jail and without money then he would get his.
Brandon Andre
Look at his blank expression. Zero remorse.
And why should he? The government enables this on the one hand, via lobbying (see Hillary and Obama), and then you get the angsty turds, like Warren, up here making everyone feel good on the other.
That money went into Hillarie,s election slush fund!
+Chbrules I like how the GOP is completely blameless in your little tirade, even though they're the party responsible for gutting most financial regulations.
shhhhhhhhhhhhhhh BANNED!
Because nothing will happen to him but some bad pr
Sen. Warren being a badass.
Being a nut is more like it.
How was she being a nut? Is the CEO not responsible for the company he/she heads? Should compensation not be tied to company ethos? Was she factually inaccurate? Did she misstate the problem? I"m curious how a genius like yourself can assess her as "nuts"...please share your erudition.
MrWorldasmaya Apparently, you're just as stupid as she is. He made it very clear that the matter is up before investigation by the board, and that it is not appropriate for him to comment on that investigation until it is completed. It's called presumption of innocence, nitwit.
More like a dumbass. She campaigns for Hillary, the largest crooked crony of them all for Wall St.
What's funny about your ad hominem is that not only is it untrue - it's irrelevant to the issue at hand. I suspect you think that's how people win arguments which is relevant as perhaps you should be careful with tossing out the word 'stupid'...lol. What matter is up for investigation before the board? Are you aware that there is no such thing as "presumption of innocence" within the rubric of internal investigations? Perhaps you conflate internal investigations with legal Federal investigations which, not so ironically, is what she called for. Gee, if i'm stupid you must be an idiot. So feel free to address that.
Lastly, it seems you don't know that much about the law. Fortunately, I do. Please let me know from civil or criminal code where it is that internal investigative actions by corporations trump that of local, state, and federal investigations? As I said, you should be cautious with calling others "stupid"...clearly.
I await your learned and well-considered reply.
PS; you do realize you never did answer my question "how was she being a nut?"
Anyone else feel disappointed in themselves? Like she was talking to you about your life? I'm a piece of shit.
Young man, you couldn't be more wrong...now go to bed...you have to go to school tomorrow 😘
way to be an asshole Blockula
You're a failure, my son.
lmaooo she went all the way in!
The state of Massachusetts surely gets its vote worth in the senate. Amazing senator Warren!!
Amazingly nuts. Look how animated she gets!
passionate
CruisingCousins Insane. Turn off the sound when you watch her talk. She looks like she's ready for a straightjacket.
She supports Goldman Sachs' favorite Hillary Clinton. She is no progressive so she should stop pretending to be one.
@Woozler- That's all you got out of this? I'll help you out...She's animated because he designed a system that almost ensured identity theft would occur. That doesn't interest you?
Waren is a fuckin savage
moron
Why isn't this woman our President?
+C Cato you provide nothing
She's a bitch
Sandra Silveira what does that even mean?
Because the owners of this country don't want that.
DoS Gaming Network Because she's not fit to run the country. She's fit to be a congresswoman.
Sanders Warren 2020!
She already kneel down kissing Goldman Sachs' favorite Hillary Clinton's ass. Wonder if Goldman Sachs would give her speech fee too.
says the man who still believes "elections" are real.
Sanders will be dead by 2020
So will Hillary it seems.
If your company gets fined a fifth of a BILLION dollars, it should be mandatory for the CEO and most upper management to resign.
+DeepSouth When that business is acting in a detrimental manner and actively harming the public good? Yes, absolutely. If anything, Wells Fargo should be dissolved and all of its assets parceled out into seperate corporations.
***** Who said anything about 'he'? Corporations are not individuals. If you're helming a corporation, and that corporation was found to be committing massive fraud, then you should no longer be in charge of that corporation! Criminal charges (where a trial comes in) against individuals are an entirely seperate thing that should concurrently occur.
+DeepSouth well that corporation pretty much admitted guilt not going to trial thing is a assumption based on some type of stereotype you made up in your head. Corporations should't be allowed to settle/get a slap on the wrist when the government has necessary proof they are not above the law. If a murder kills someone he doesn't just settle for a fine, but corporations oh no they can't possibly be punished. We have no guarantee they won't do it again, this crime was committed under this management for 5 years and is a felony any way you look at it. firing the upper echelon should be the minimum sentence for this criminal activity. If they keep committing crimes of this scale shut down the corporation seize their funds and sell off their assets to pay back customers and compensate low and mid level employees for their work. I don't know why you're being an apologist for corporations, you commit a crime you go to trial and get handed out a sentence if your guilty end of story.
Resign and be jailed and have to lose all his money.
If the government doesn't keep them accountable, no one will. In the US that's exactly how it is, white color criminals almost never get punished apart from these fines. They are never jailed (or barely and short sentences). He belongs in jail, he should lose his fortune.
Mrs. Warren, you are an admirable human being. Thanks for always standing up for what's right.
Lol she is standing up for what is ring now but not always
This woman is a trailblazer.
Princess Pocahontas is a fraud. She needs to look in the mirror to find the real crooks in America.
in what way is she a fraud? she is actually out here doing good for the American people, which you would know if you bothered to read anything aside from Trump's twitter feed.
creczko She's not native American. She's a Democrap. She's a liberal progressive. She's done nothing for America except wake it worse. I am not voting for that clown Trump, but I know you're voting for that criminal, Hillary. Grow a brain you fucking idiot sheep.
Give me one example besides her not being Native American because I can give you plenty of examples of things she's done that are making life better for every American. I never said I was voting for Hillary, either.
creczko Wow, really? You don't know the other lies and hypocrisy she's been proven to be part of? Here's a clue genius. Warren was practicing law for years in Massachusetts without a license. She represented multiple corporations (16 to be exact) to file chapter 11 bankruptcies to avoid paying the fines from asbestos poisonings. She used her lie of pretending to be a Native American to get hired by Harvard. She also had a 6 figure salary as an attorney, not the middle class salary she claimed. While Normal adjuncts at Harvard get $11,037 a class, Warren got $429,981, but has the nerve to complain about CEO salaries. Grow a brain and learn to find your own sources. Stop being a typical lazy liberal shill.
I'm so glad this came to light. I was an Assistant Branch Manager for Wells Fargo for a few years and everything Elizabeth Warren mentioned, was rampant! We had a Regional Manager that would come into our branch and make sure we were hitting sales quotas. Our tellers had to stay at the branch after close to report on conference calls if they didn't hit their numbers. We were under constant pressure and threatened with our jobs to produce. Sales goals were very steep and a culture of forced sales was the norm. None of our higher ups cared about the stress to employees it was sales at all costs and hitting a high number of consumer products for every customer. I'm glad I left Wells because the stress was unbearable on the daily. I wish I could call all of my tellers personally and apologize for the stress we were all feeling. I hope Wells Fargo gets very closely examined!!! Great Job Elizabeth Warren, I hope the American Consumer sees what big banks are really about!
Been through the same shit working at CIBC in Canada while making $12 an hour. I had to do pizza delivery on weekends to survive.
Joseph. Stumpf and all of those in senior executive positions who were part of this? Should have been indicted and found guilty imprisoned. Period...
Pocahontas needs to question crooked Hilary the same way
She's my fucking hero!
+Makashima there's only two presidents left to choose from and if it were me I'd choose Hillary too lmao you can't go back now
How did she help you in anyway to become your hero
she eats Manhattan clam chowder!
Abdul Assad
She's definite fighting for us, the common folks. What have you been doing? Being a troll on the internet again?
My godness.. that was a complete beat down.. .it was like Pippen on Ewing!
Jordan on Stockton lol
Macho man Randy Savage on the Animal.
And at the end of the day he goes home to his mansion and millions more dollars he made that day while Warren sat there shitting herself. Yawn.
just like pro wrestling. dont believe what you see.
moron
Whether you are a democrat or republican, you have to admit Elizabeth Warren is a beacon of hope for the honest enforcement of justice in the US
Yup, glad she called that coward out
She still isn't Native American though
One roasting by her doesn't forgive all the shit she has done. She lied on her college application and claimed she was native American to get cheaper tuition. That kind of trash deserves to be thrown to the bottom of the landfill.
@@DATWagonator That's false. She has never benefited from her claim. One of my relatives claimed Native American ancestry, and it turned out to be true, although 14 generations back. It's similar in her case. It was a claim made by her family, and it showed up in her DNA, as it did in mine. Not enough to claim to BE Native American but there nonetheless.
Jesus CHRIST she went in on him. Whatever you wanna say about her, that was a well researched, SEVERE beat down
It's just painful watching Stumpf and his lawyers repeat their PR release. Keep on skewering them Liz!
She's a fucking nutjob.
What do you do? Work at a bank? If so, her line of questioning might sound crazy to you because you have no soul.
In what way? Does she not have an understanding of the facts? Is she unreasonable to expect accountability? In what way is she a "fucking nutjob"? Because you deem it so? ROFL...it's amusing you even bothered to take time to comment.
What are you talking about? Congress created this monster when they ordained them TBTF and didnt push the DOJ to prosecute. I dont blame them when the Fed is at NIRP and Congress insists they take all the free money the fed can print. Id take it too. I think my money would be better handled by the crackhead smoking butts out of the Mc Donalds ashtray out front.
P CC And YOU have no brain, lifelong loser.
OMG Elizabeth Warren don't play!!! Sure glad she's on our side.
Damn, she looks soo native I can barely tell she's white!
You should read a book called "Passing"
And if you have time look up "Melanin"
She totally dropped the mic on him, that was awesome
I just love this women ! Go get him girl !! Go for his no good throat !!!!!! These people are no damm good. Soo GREEDY !!
Why assume all bankers are greedy? Most are good.
And look at his fucking indifference.
Yep, I saw that as well. He doesn't give a crap because he knows he is above the law. The same as when Jamie Dimon laughed at the American people after 2008.
To be fair he is being talked at not talked to, I'm sure you've had to endure something similar in your life and I doubt you were entirely enthusiastic about it.
I can see that. Fair enough.
These clips are even better than Netflix!!!!
I enjoyed Stump's face when Senator Warren said he should give back the money from his personal account. He was trying so hard to divert the discussion away from reality but she held him to it. Well done Senator Warren.
what is really sad is that this piece of sheet CEO really and truly does not believe what he was doing was wrong
3 years and millions of fake accounts is not an accident, it is policy
I'm not sure if he doesn't believe what he was doing was wrong. I think it's worse than that - he knew and does not care. He knows, in America, the richest on wall street are above the law.
Oh man, she ripped him a new set--and he probably hasn't been spoken to like that since his mom caught him with his hand in the cookie jar, lol! Ouch!
Yes! Something that we all can agree on. Roast and burn Wallstreet.
Yeah, that will make you happy, right?
Nobody has a million dollars and brags about it, especially on CZcams idiot. That means that you don't have a "few million dollars". You have serious moral issues if you're supporting corruption, scams, and con-artists. You can thank Wall Street, the banks, and the wealthy for giving you a crappy economy. I bet you're the kind of guy that just like it straight from behind by Wall Street.
fqn 3 Nope, sorry. I'm not gay. I'm normal. And YES, I DID make money on The Street. Indeed, my net worth is close to $4 Million (and NO, I inherited very little; it's all self-made).
Get used to it, pal. Not everyone in this world is an angry life-long loser Democrat who blames Wall Street for all his woes. Better luck next time, loser.
fqn 3 Six million, eh? Well, good for you. So what are you complaining about if that's true?
The 2007 recession was caused by Democrats Dodd-Franck. The 1929 crash was caused by speculators like Democrat Joseph Kennedy, who through the SEC made illegal all the tricks he used to make his own money. The Democrats are the fault of economic downturns almost every time.
chbrules Nope, sorry. I'm not gay. I'm normal.
I have so much respect for Sen. Elizabeth Warren! She is super bad!!! love her!! She speaks the truth
He should've returned a nickel in advance of the hearing, then he could've answered "yes."
Omg she dropped the hammer on this guy!
She's a badass, but sadly she sold out to Hillary
+Bible Reader lol
Hillary or Trump is really Coke or Pepsi because Pepsi is terrible
***** well then she got the oscar and the ceo got the golden raspberry
***** yeah, but we can't let progressive change just go to the wayside. and no, with hillary in office, people like warren will be ousted because unlike hillary, they don't support wells fargo and wall street.
***** amen to that
She brings great honor to America
*If only she would run for president...*
obviously you dont know shit
@@mmafyasco How do you feel about your comment now?
Good call @wyatt yates
Thankfully she is now!
"Gutless Leadership" INDEED! This woman's the one with guts!
what a fucking badass. elizabeth instead of hilary tbh
"gutless leadership" OH DAMN
When the bankers said that her problem is that she just doesn't understand their business, she said, no, their problem is that she understands it very well.
Jail time for the big shots. They feel they are untouchable and so far they are. Time to hold them accountable.
i agree with sen. warren, stumpf should go to jail. he should be held accountable not low level employees.
Best vote ever cast was when I voted for Liz Warren.
It’s gonna be even better when we vote for her to be our next president
BEAT DOWN
I remember my grandfather who was a businessman with an eighth grade education, a gentleman who had a lot of wisdom. I recall a conversation we had when I was about 10 years old. He told me when he went into business, in Scranton, PA, in the 1930s contracts weren't necessary because a man's handshake was his word. In the 1960s he realized much had changed as big business took over the local, small businesses. Big business and big banks have a lot of power because they are quasi-monopolies. If donald trump wins it will get worse.
I was a call center rep for Wells and they pushed "referrals" and made it known that you didn't just lose a bonus, you could lose your job if you didn't meet goal. If a customer said no you had two try again. You had to get two clear nos from a customer before you could stop pressuring them. Training was mostly about how to coerce customers, not much about how to assist them properly with their needs. During training they even said that we should pressure our families and friends to help us meet our goals if we fell short. When I went to open my employee account I was pressured into a credit card, online bill pay, and a few other products. One of the branch employees even said they tell you to go out into local stores if you don't get enough "referrals" that day. Wells was making so much money but the bathrooms at our location were never cleaned properly, I am talking health department shut the place down bad! I actually quit because I didn't have a safe place to use the bathroom! That should tell you where their priorities are. They don't care about their customers or their employees!
These people messed my account up and I moved to a credit union. I hope they get what is coming to them. If you have a wells fargo account please consider taking a weekend off to switch your account to a credit union.
You just got Stumpf'd.
She talks about creating laws to punish scumbag CEO's. You mean we havent yet?
every politician should resign #thepurge
THIS WAS MY MORNING COFFEE *YEEEESSSS QUEEEEENNN*
Holy fuck she went in on him
I still can not understand exactly this wells fargo scam.
Face jail time, or better yet death penalty.
The entire room is like hush up u know hillary already said to cut it out
Thanks to that lady exposing that giy for pretty much stealing money.
I feel like I watched a scene from a movie, A Few Good Woman. I was waiting for the Wells Fargo CEO get up and yell, "YOU WANT ANSWERS?! YOU CAN'T HANDLE THE TRUTH!!!"
I never get tired of watching this video. Then and especially now. She’s absolutely fierce.
Why don't they grill Hillary and the FBI like this ???
They have been repeatedly, how do you not remember the failed Benghazi trials...or the failed investigation by the FBI. Over millions of dollars for a witch hunt brought in by the scared Republicans.
Great stuff!!!
Ms. Warren states EVERYTHING...so...plainly! Matter-of-fact(ly)! ;-)
Hands Mr. Stumpf his
'NADS
on a plate!
She does an AMAZING job at putting things in perspective...with her comparison of the lowly teller stealing a few twenty dollar bills...and what would happen to him/her - and the guys at the top, SCAMMING MILLIONS...
keeping their jobs,
well...
and,
their millions! :-}
LOCK HIM UP !!!!
We need tough NEW laws? Is organized crime not illegal yet?
Why the fuck didn't you endorse Bernie
She's a fake progressive. Banker's puppet.
One of the biggest failures in modern political history IF ones intention is to promote the well-being of the USA. She acted in her own self-interests and that in conjunction with the actions of Debbie W. Schultz -- they torpedoed his campaign.
This chick is a tiger. Fuck yes
This was just beautiful to watch.
Can someone explain why Stumpf was in the room? Surely he didn't need to fly in from San Francisco to hear this Warren speech if it was gonna be on C-Span...
I just love how you all think because she is publicly grilling him is somehow going to change anything or force him and his cronies face any repercussion. This is all a show
If she's so worried about corruption, why in the hell is she still for Hillary? Put em on a level playing field
The sad part is these politicians do the same thing. And, its all legal. Read the fine print of most bills passed through our legislative branches. Most are riddled with money making schemes for politicians friends, backers, or businesses.
Pocahontas
Cross selling is short hand for deepening relationships. Is this guy serious? He's the CEO of Wells Fargo? Eight rhynes with great? If anyone ever tells me again that only a limited number of people have the skill set to run a bank I'm gonna punch em in the face.
You go girl! I love how she represents us. Thank goodness for her 🙏
I hate Well Fargo Bank. I opened a checking account with them when I was 16 years old, and they gave me an adult account instead of a student account. The monthly maintenance fees caused me to overdraft and they didn't once offer me any renbursment or inform me of a free student account.
😳😳😳... I think he Shat his Pants! 👊🏾💩
i wont be satisfied until she does this to hillary clinton. while live on cnn
I have wells fargo banking. Any recommendations to another bank I should switch to?
Credit unions are better than big banks
This needs to be shared and publicized as much as possible!!!
The guy next to Senator Warren must be a bit dehydrated.
Wha-BAM!
Move your money to a local credit union. Let them rot on the vine :)
That was better than watching a UFC fight. She submitted him with a choke from behind. Only thing I would deduct a point from her on is that he is not Wall Street.. any more than an auto exec is. Traders are Wall Street.
Jail time? These men should be charged with treason.
You could see she started smiling when he was trying to buullshit his way out of questions. She was blood thirty af, and she rekted him.
Trey Gowdy would've done a way better job
Hahaha. Would have brought up some damn emails about Sidney Blumenthal
get 'em becky!!!!
Hell of a lot better at demanding yes or no answers than giving them Ms. Warren.
She just 360 No-scoped cross mapped trickshotted that dude. get rekt boiiii
I love C-SPAN!!
i think this is the first time i see CSPAN trending
Did everyone receive an email just now from Wells Fargo that they no longer have sales goals in their banks? It's sick that it takes THIS to get these crooks to act right.
That was so good i almost cried 😂😂😂
I hate Hillary and Warren, but she did a good job👍🏼
Telling it straight and holding the proper person(s) feet to the fire. Hooray!!
Idk how everyone is sitting there with a straight face. I’d be sitting there ROLLINGGGGG if I was in that room💀💀💀
Elizabeth Warren for first woman President 2020!
Make this lady President america
You might be interested to know that John Stumpf retired the month after Elizabeth Warren's grilling. Go Warren!
He and Carrie Tolstedt should have been secretly indicted, arrested and if found guilty? Imprisoned. Period..
I have an account with wells, they suggested repeatedly for me to get a credit card under their umbrella. I refused so far, I have enough income, I don't need a card. I'm glad I watched this, it helps me to stand firm on my action choices!