by Richard Eskow | Sep 20, 2016 | Blog, Financial Reform
"There was no incentive to do bad things,” said Wells Fargo CEO John Stumpf, after his bank was hit with $190 million in fines and restitution because employees fraudulently opened more than 2 million accounts over a five-year period without customers’ knowledge or...
by Sam Pizzigati | Sep 16, 2016 | Blog, Financial Reform
John Stumpf, the CEO of America’s most profitable megabank, sent me an email earlier this week. Imagine that. The bank Stumpf runs, Wells Fargo, has 268,000 employees. Stumpf must be a very busy man. Especially these days. Wells Fargo has been operating in crisis mode...
by Richard Eskow | Sep 13, 2016 | Blog, Financial Reform
As the latest Wells Fargo scandal was breaking, the music world learned of the death of Prince Buster. He’s the Jamaican ska legend who made a record called “Al Capone” and sang “Enjoy yourself/it’s later than you think.” I wonder what he thought about Wall Street?...
by Sam Pizzigati | Sep 13, 2016 | Blog, Financial Reform, Jobs and Growth
Peter Drucker, the internationally acclaimed founder of modern management science, lived nearly a century. He died in 2006 at age 95. He died troubled. The Austrian-born Drucker had always considered management a noble calling, a profession essential to the common...
by Richard Eskow | Aug 29, 2016 | Blog, Economy, Financial Reform
When William Greider wrote his 1989 book about the Federal Reserve, it’s not hard to understand why he called it “Secrets of the Temple.” The Fed’s proclamations can make it seem as mysterious as the Oracle of Delphi. (To be fair, nobody has speculated that...
by Dave Johnson | Aug 16, 2016 | Blog, Financial Reform
"Payday loans" are a Wall Street/financial industry scheme/scam that preys on people with low incomes. The Consumer Financial Protection Bureau (CFPB) is working on rules to reign this in and protected Americans. They want to hear from you. Please join the fight by...