Wells Fargo ex-CEO more toxic than we realized.

[dixiegrrrrl]

Not only was John Stumpf "retired" from Wells Fargo after the scandal of fraud was reported recently, he did not get severance/pension.
( Thanks to Eliz Warren, she called for him to lose his big bucks).

Now, turns out, he ALSO is being dumped from his board seat Chevron, effective immediately - says Twitter

These board seats of huge wealthy companies are vital to keep the Wall Street Mafia in power.
They pay a good chunk of change, plus all the insiders on each other's boards help plan more money grubbing schemes
and to support relationships with each other. People of industry are VERY connected via boards, private clubs, etc.

Being dumped is a HUGE thing.
and I suspect it won't be the last.

[GWC58]

1. It would be nice if

this guys, I'm sure, big bank account could raided?

[metroins]

2. He'll be ok

[lpbk2713]

3. He comitted the most unforgivable sin.

He allowed himself to be caught. He didn't find a subordinate to pin it on.

[Wellstone ruled]

4. Have to agree.

If one really wants to think this is isolated,forget about it,this scheme was used by other banks. This not a Virgin Idea. The News Media failed the Public once again,for crying out loud,this scam started when1999,2000,enough.

[irisblue]

5. chanting "Perp Walk!" I am.

not that I expect it would happen...I can dream.

[Iggo]

6. JAIL.

[Mosby]

7. he resigned from his Chevron and Target board position

He wasn't fired, maybe he is retiring.

[dixiegrrrrl]

11. "Resigned from" is usually the option they give the no longer wanted.

Didn't know he was on Target board....wondering how many other ones he is ...was...on.

[hatrack]

8. A nasty, greedy little man from a nasty, greedy little bank

Long may he and his company rot.

I wouldn't open an account at WF if they put in the first $100,000 for me.

[duncang]

9. Look at how wide spread for people to serve on multiple boards

A true quid pro quo system.

[Initech]

12. Time to start jailing these criminal CEO scumbags.

[Ilsa]

13. Ah shucks, he's going to have to sell a vacation

Home, I bet. No mink coat for the wife this year.

I hope he saved his previous bonuses.

[raven mad]

14. Then he should pay me for the house he foreclosed on.

[HughBeaumont]

15. I'm shedding no tears.

He still gets to retire with a $134m exit package and he still isn't going to see one minute in a jail cell.

Wells got fined approximately $150 DOLLARS per fraudulent account opened. Meanwhile, credit ratings of all the customers these fraud accounts were opened under remained damaged, and investors have lost $21 billion in market value.

This isn't a punishment. This is bullshit.