Elizabeth Warren and the Wells Fargo Scandal

September 22, 2016 7:18 PM

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In case there was any doubt about Elizabeth Warren’s feelings toward John Stumpf, the C.E.O. of Wells Fargo, it was cleared up on Tuesday during a hearing before the Senate Banking Committee. “Okay, so you haven’t resigned, you haven’t returned a single nickel of your personal earnings, you haven’t fired a single senior executive,” Warren said to Stumpf, during an interaction that might properly be characterized as a verbal evisceration. “Instead, evidently, your definition of ‘accountable’ is to push the blame to your low-level employees who don’t have the money for a fancy P.R. firm to defend themselves.”

Warren kept going, articulating a very pointed attack on the head of the company. She estimated that Stumpf’s stock holdings had increased by two hundred million dollars in value during the time that “this scam,” as Warren put it, occurred, in which fifty-three hundred employees opened unauthorized ...

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