- Have an asset cap in place for at least the next 2 years
- Have a multitude of consent decrees
- Have a union
When a union gets a foothold, whether in Poland or at Wells Fargo, change is coming. Poland attempted to shut down the Solidarity Union, but history tells us the union caused profound change. Charlie Scharf and his minions cannot stop the Wells Fargo Union or his inevitable ouster because of his failure to lead. The very existence of the union shows the deeply rooted incompetence, both in management and any financial adviser who moves to this troubled firm. At least have some self respect and truly want the best for your clients. Clients and employees deserve better.
Elizabeth Warren was right to ask for the breakup of the firm. It's embarrassing.