Welcome home, fellow Gator.

The Gator Nation's oldest and most active insider community
Join today!

Sloan out at Wells Fargo

Discussion in 'Too Hot for Swamp Gas' started by gatorknights, Mar 29, 2019.

  1. gatorknights

    gatorknights GC Hall of Fame

    26,217
    2,728
    1,243
    Apr 8, 2007
    Gainesville, FL
    Bank robbery is good work if you can get it.

    Wells Fargo CEO Quits In Wake Of Consumer Financial Scandals

    "And a few days later, the company revealed in a filing to a government regulator that Sloan would be getting a $2 million bonus for 2018."

    "In an unrelated case, the consumer bureau also imposed a $1 billion fine against Wells Fargo for overcharging customers for mortgages and auto loans. The fine was part of a larger settlement of charges the bank originated and sold mortgage loans that included false information in the years leading up to the financial crisis."

    It is better to rob a bank with a suit and a tie rather than a gun and a mask. You can actually make a lot of money that way. I don't recall hearing a lot of outrage over that. But those brown people who are invading our borders...
     
    • Agree Agree x 1
    • Informative Informative x 1
  2. ThePlayer

    ThePlayer VIP Member

    30,890
    2,547
    1,823
    Apr 3, 2007
    I'm sure Pocahontas is drinking another beer in celebration.
    But isn't that article on Wells Fargo a year old already?
    If Warren Buffett is high on WF, then so am I.
     
    • Funny Funny x 2
  3. gatorknights

    gatorknights GC Hall of Fame

    26,217
    2,728
    1,243
    Apr 8, 2007
    Gainesville, FL
    Um...No. It came out yesterday. And who gives a frogs rectum if it was a year ago when there was rampant fraud. What, is the statute of limitations on bank fraud only one year now? I didn't get that memo either. Plus, the only people celebrating are the scum at Wells that made a ton of dough through fraud and got a bonus check for their troubles. Buffet is high on WF likely because when the stock price bottoms out there is nowhere to go but up. Because our government will not do a thing to them.

    Today's pricing.

    upload_2019-3-29_14-27-17.png

    Let me phrase it in a way that crazed right wing nut jobs can easily understand. Ahem. "Republicans are for bank fraud because it is making america great again".

    Maybe they're right. Bank fraud is the American Way, and a virtue to be respected and loved. o_O:rolleyes:
     
    • Optimistic Optimistic x 1
  4. fortunateson

    fortunateson Junior

    137
    48
    193
    Oct 4, 2015
    And the lady who voted illegally in Texas got FIVE YEARS!
     
    • Agree Agree x 1
    • Informative Informative x 1
  5. WarDamnGator

    WarDamnGator GC Hall of Fame

    6,421
    617
    538
    Apr 8, 2007
    Wells Fargo has turned into a behemoth of untouchable fraudsters. There only personal punishment is that they get to retire with pensions and stock options and not have to work any more.
     
  6. ThePlayer

    ThePlayer VIP Member

    30,890
    2,547
    1,823
    Apr 3, 2007
    "In an unrelated case.....

    Wells Fargo Hit With $1 Billion In Fines Over Home And Auto Loan Abuses
    April 20, 2018 9:12 AM ET
     
  7. gatorknights

    gatorknights GC Hall of Fame

    26,217
    2,728
    1,243
    Apr 8, 2007
    Gainesville, FL
    upload_2019-3-29_14-44-8.png

    It helps if people actually read the article before challenging it. That's something you-know-who would do. Must be the new con thing.
     
  8. ThePlayer

    ThePlayer VIP Member

    30,890
    2,547
    1,823
    Apr 3, 2007
    I
    I simply asked you about the date.
    What does that have to do with politics?
    Besides, Warren Buffett is a Democrat too.
     
    • Like Like x 1
  9. Gatorrick22

    Gatorrick22 GC Hall of Fame

    65,030
    10,263
    2,373
    Apr 3, 2007
    Is there a political reason for this thread?
     
  10. gatorknights

    gatorknights GC Hall of Fame

    26,217
    2,728
    1,243
    Apr 8, 2007
    Gainesville, FL
    Maybe because some of donnie's closest associates engage in mortgage fraud. Connection maybe? Or are the Trump groupies cool with mortgage fraud? Donnie was a RE developer who had to go to Deutsche Bank for financing since the American banks wouldn't touch him. I'm sure it's just a mere coincidence.

    Mortgage fraud | American Banker
     
  11. homer

    homer GC Legend

    883
    310
    348
    Nov 2, 2015
    Who are Trump’s closest friends that engage in mortgage fraud.

    Hell. Who are his closest friends.

    I ask because I only have a few “closest friends”.
     
  12. gatorknights

    gatorknights GC Hall of Fame

    26,217
    2,728
    1,243
    Apr 8, 2007
    Gainesville, FL
    Read much? I said "associates", not "friends". See an associate is someone who...oh nevermind.
     
  13. homer

    homer GC Legend

    883
    310
    348
    Nov 2, 2015
    Lol

    I stand corrected.
     
  14. VAg8r1

    VAg8r1 GC Hall of Fame

    9,297
    1,036
    693
    Apr 8, 2007
    Actually it's dated March 28, 2019.
     
  15. QGator2414

    QGator2414 VIP Member

    12,026
    842
    598
    Aug 24, 2009
    Ocala
    I don’t pay much attention to Wells Fargo. I did a loan with them on a refinance of our house because a Gator buddy worked for them at the time. No issues and house is paid off. Then recently We financed a house in Palm Coast with a community bank and Wells bought the loan to service. Actually made my life easier since I had the previous loan with them. Hoping by the end of the year I will have that one paid off.

    Do I think the big boys play in shenanigans they should not? Sure. But they are not evil either imo (any large entity will have bad apples).
     
  16. gatorknights

    gatorknights GC Hall of Fame

    26,217
    2,728
    1,243
    Apr 8, 2007
    Gainesville, FL
    Ya had to be there. I was for decades. You might want to rethink the "they're not evil" thing. Unless fraud is not evil. It was/is systemic and rewarded. And based on the fallout of the last plane crashing into the mountain, it's quite profitable as well. Especially when people who don't know come to their defense. You are wise in having your real estate paid off, that is my strategy so they can't harm me anymore, but there sure was a lot of hurt for a few decades and it wasn't just me, and it wasn't just Wells. It was most all the major lenders in on the game, and millions of people got hurt bad. I have been there, seen the real estate and audited the files. I don't get that information from a news show or an internet site. I get it from my eyes, ears, and what is left of my brain :cool:.
     
  17. QGator2414

    QGator2414 VIP Member

    12,026
    842
    598
    Aug 24, 2009
    Ocala
    It was pretty cut and dry for me. Granted BOA nailed me on a business loan once as what was told to me was not the reality of the fine print. Ironically I was able to play that situation to my advantage due to big rate drops. It was a learning moment that I was fortunately not burned on...