FROM THE WELLS FARGO WEBSITE:
“If you want to find out how strong a company’s ethics are, don’t listen to what its people say. Watch what they do.”
“Everything we do is built on trust. It doesn’t happen with one transaction, in one day on the job or in one quarter. It’s earned relationship by relationship. ”
"We have a responsibility to always act with honesty and integrity."
"We believe in free and open competition. We gain our competitive advantage through superior performance rather than through unethical or illegal business practices."
And after being fined $185 million for fraud and illegal practices the other day, the CEO of Wells Fargo continues to act like the opening of up to 2 million fraudulent customer bank accounts and credit cards is just the work of some renegade employees.
Testifying before the U.S. Congress, CEO John Stumpf blames the company-wide behavior on just a small percentage of employees trying to enrich themselves through additional sales of products. Yet, dozens of employees who tried to blow the whistle on the unethical antics through in-house disclosures, found themselves very quickly without jobs.
Apparently, the CEO didn't know about anything going on in his own company and when most likely is forced out, will take home a consolation prize of up to $200 million for a job well done.
Like all previous corporate scandals in America, TV commercials of children running slow motion through cornfields under the Wells Fargo logo, will soon impact the public's very short memory. When the public's attention turns to Brad and Angelina appearing on "Dancing With The Stars," all will be fine again.
