Fact – Wells Fargo stole money from its customers. It opened fake accounts and stole millions of dollars from ordinary Americans.
Fact – The six highest paid executives at Wells Fargo have been paid approximately $190 million over the past three years, all while the company was stealing from ordinary Americans.
Fact – Wells Fargo’s profit during the last three years was $67.9 billion.
Warren Buffet owns 10% of Wells Fargo. Two other large holders own another 10% of Wells Fargo.
These are the people who are stealing from you. And, right now, Wells Fargo is singularly focused on making sure that they don’t lose any money. The message from Wells Fargo is that it is okay to steal from you and to continue driving the gap in income inequality. The Wells Fargo legal strategy has focused on making sure that even if they stole from you, you can’t sue them. Because, see, you signed an account agreement that obligates you to follow their procedures to resolve disputes and not file a lawsuit. Wells Fargo has every intention to use the system to protect the money that they steal from ordinary Americans.
ENOUGH! I propose that the six highest paid executives return 100% of their
compensation for the past three years to ordinary Americans and that Wells Fargo issue $67.9 billion of common stock to ordinary Americans. If ordinary Americans had that large of a stake in the company, the company and its executives wouldn’t be as motivated to steal from you. And, finally, ordinary people would have a say in how the Banks that are too big to fail impact society. The status quo, where a bank could steal from ordinary Americans to give the money to the wealthy, would no longer be acceptable.
If any one of these executives has any integrity, they will agree to return all of their compensation to the people. Contact your elected representatives and demand accountability from Wells Fargo and its executives. And, if the executives even return one year of their compensation to ordinary Americans, I will give up my next year’s salary, if any, from ShareAway to ordinary Americans… because it is the right thing to do.