Wells Fargo’s Business Model is Fraud
Bernie Sanders
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Watched Elizabeth Warren tear into Stumpf (we share a middle name BTW… I think he even stole that!) and you know nothing is gonna change. He sat there with a smug “I’ll just wait here until she runs out of steam” look on his face like every other over-paid, under-skilled executive I’ve ever known who feels like they are the force behind all that lives and breathes around them. No remorse, no self-awareness.

He believes to his core that Warren is the problem, not him. He knows regardless of what happens, he will keep his ill-gotten wealth and that there are dozens, if not hundreds, of companies that will line up, ready to attract his “special skills” of wealth extraction with no remorse to them should Wells Fargo decide to let him go.

These new industries based solely on transactions that do not produce anything except the extraction of wealth nor invest in any durable goods are not capitalism, yet they structure their business around the model and think they are somehow building value. They are not. They are parasites, taking and giving nothing back to the community that enables their existence.