Page 89 - Flip Banks TG

Wells Fargo is having difficulty accommodating regulatory

demands and may even have more scandals to be

sanctioned for e.g. the July 2018, $2.09 billion penalty for

alleged misrepresentation of loan quality.

One would think that WFB is unlikely to fall much further, as

regulators may be hesitant to pursue the company with

even more drastic punishments beyond just fines. However,

the Department of Justice, may still look at other businesses

within the bank such as its Business Banking unit – one bad
apple?

Nevertheless, for at least 2018 and later the bank will be

focussed on trying to fix what appears to be a deeply

troubled business culture.

Perhaps the last word should be left to a dark, fictional

business icon:

Gordon Gekko: The point is, ladies and gentlemen, that greed, for lack

of a better word, is good. Greed is right. Greed works. Greed clarifies,
cuts through, and captures the essence of the evolutionary spirit.
Greed, in all of its forms, greed for life, for money, for love, knowledge,

has marked the upward surge in mankind and greed, you mark my
words, will not only save Teldar paper, but that other malfunctioning
corporation called the USA. Thank you very much.

Wall Street