Saturday, June 9, 2018

A Bank That Robbed Itself

In 2016, a huge Wells Fargo scandal broke. The bank had robbed many of its customers by secretly creating false accounts and charging them fees on those accounts. Despite the bank being forced to reimburse its customers the CEO received a 36% raise to $17.6-million. In recent months, the bank revealed it has been defrauding customers on auto and home loans.

Wondering why this happened, I asked famed Professor Dr. Willis Blunderfield.

“Of course it happened,” Dr. Blunderfield replied. “Do you know how hard it is to make ends meet on just $17-million a year?”

“The cost of mansions, yachts, limousines, lavish vacations and private schools, are thru the roof,“ Dr. Blunderfield continued, "As are the costs of accountants and lawyers to try to avoid paying taxes.”

“I never looked at it that way,“ I replied.

“Now that you know,“ said Dr. Blunderfield,.“Just be glad you are a wage earner rather than being almost overwhelmed by a lavish lifestyle. Who knows how many other bank CEO’s are being forced to do the same thing to their customers.”

With Love To All ~ Dick Print Friendly and PDF

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