Lianhe Zaobao the political effect of Wells Fargo scandal in the United States-poper

Singapore United Morning Post: Wells Fargo Bank scandal of political effect – Beijing, Beijing, September 26, Singapore "Singapore United Morning Post" 26 editorial said, the third largest US bank president John Stumpf announced that the withdrawal of the Federal Reserve Federal Advisory council. The day before he attended public hearings in the U.S. Senate, face a total of five senators called for the Federal Reserve no longer appointed him to a director. The hearing is aimed at Wells Fargo employees with customers to open new private bank and credit card accounts using their personal data to the unsuspecting customers illegally charging administrative fees, a total of five years forged over 2 million false account scandal. In less than six weeks from the presidential election day sensitive moment, the scandal is likely to have spread political effects. Article excerpts are as follows: Wells Fargo announced in September 8th, to pay 185 million dollars to the United States government to settle out of court. Although Stumpf at a Senate hearing, apologized for the scandal, but the democratic and Republican senators are of the view that the lack of sincerity. Because Stumpf itself did not assume any real responsibility, but also benefit — he personally has the rich value from the event, in five years increased by $200 million — but did not fire any bank executives. On the contrary, executives responsible for the retail business, but received $125 million pension. Rich last year’s earnings of up to $20 billion, media computing, $185 million fine, only equivalent to the rich country’s three days of profit. Democratic Senator Warren said it angrily at the hearing, Stumpf for fraud criminal prosecution shall be. Rich countries, despite the government’s prosecution, have to face a rebound from shareholders and former employees. Stov at the hearing, was asked to recover the huge pension paid to executives, said it was the decision of the board of directors. An investment company with a 0.25% stake in the bank announced that it had gone to the board of Wells Fargo to ask for a return on executive pensions, and to review the existing executive incentive mechanism to encourage illegal acts. Two former employees of Wells Fargo has also launched a class action lawsuit of $2 billion 600 million in damages, requiring banks to compensate employees who were fired, demoted or dismissed because of the pressure from senior executives, who were forced to set up illegal accounts. A former employee claimed that they had been fired by the bank after they exposed the illegal marketing practices through a corporate reporting hotline. In less than six weeks from the presidential election day sensitive moment, the scandal is likely to have spread political effects. Wells Fargo scandal reflects the reality of the political split in the United States – the disintegration of elite and grassroots political trust. Former Democratic presidential candidate Saunders pointed out that, under the pressure of the performance of the forged account of the employee was dismissed, manufacturing performance pressure executives receive generous remuneration. This double standard, that the American people on the existing system and the lack of integrity of the accused. This phenomenon since the 2008 financial crisis in Wall Street, and did not change the slightest, leading to the bankruptcy of many U.S. banks in the banking sector, has not been jailed. The continuous fermentation of the existing system of distrust, cultivate a fertile ground for the rise of populism. New York real estate big.相关的主题文章:

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