Debt Rattle July 29 2017


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    Dorothea Lange Grocery store in Widtsoe, Utah 1936   • Trump’s Mistake In Taking Ownership Of The Stock Market Bubble (LR) • Congress Checkmates
    [See the full post at: Debt Rattle July 29 2017]

    V. Arnold

    Well, it’s finally happened; the U.S.A. is now Disneyland; where Unicorn’s run free, dreams come true, and Tinkerbell rules…
    But, they still have those pesky nukes.

    Dr. Diablo

    “This is a full-blown scandal — again,” said New York City Comptroller Scott Stringer, who oversees public pension funds that hold roughly 11.6 million Wells Fargo shares. “It’s unbelievable, outrageous, sad, and yet quintessential Wells Fargo.

    OMG, are you for real? So you will go in public to say corruption and fraud is “quintessential Wells Fargo business model, and you still own 11M shares? You haven’t even sold them in the months since the last scandal? This is what is wrong with the system. Under a normal, profit-based, non-rigged, system, companies who, I dunno, commit serial multi-billion dollar frauds, overpay their boards 50-fold, or, say, have had no profits ever (lookin’ at you, Amazon) would be SOLD. Instead they are actively BOUGHT.

    So this drooling idiot, like his NYC brethren like “I-don’t-pay-my-taxes” Geithner, have never heard of “fiduciary duty” which would mean if he owns 11M shares or $583B in a company he openly admits he knew all along is fraudulent he would get class-action sued into the next galaxy, because that means he knows NYC will have a $500B pension hole taxpayers will be asked to fill, Chicago-style. But it no longer even occurs to him, a) to have shame or b) to have caution, because no banker in the NY District court has gone to jail in 40 years. A judge just retired of old age there and proudly bragged that he had never settled in the public’s favor once, and this was lauded as work well done.

    Moving on from our complete lack of a free market or a justice system, Wells’ solution is to fire managers. Okay, were those managers guilty of anything? If so, why aren’t they being charged? If not, does that mean the felons just ousted all the honest men, concentrating the power into ever-fewer insider hands? And so you’re going to fix a problem–presumably of oversight–by having 50% LESS oversight, as apparently all those managers now need to do twice the work and oversee twice as much territory as they “weren’t able” to oversee without felonies before? I mean because, like the creating-fraudulent-accounts scandal, all those minimum wage phone reps for some reason committed all these crimes although no one in the company had directed them to. –Gotta watch those minimum wage workers! Never know what they’ll get up to compared to us clean, white-shirted Yale graduates!

    And this is the “right structure” — for further profitable fraud, graft, and insider paychecks. I’m sure now that they make no money and are proven to be a business model based on theft, financial rape, and accounting fraud, their stock should soar in pursuit of those other open fraudsters, Amazon, Facebook, and Tesla. Go US!

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