When and how are we going to hold managers accountable? Enough is enough!
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All stem from pressure on low and mid lever management to create artificial results.
Have you heard of fake assets? You can never take anything at face value in the financial statements. Remember Enron? The accountants and auditors colluded together, and came up with creative accounting methods to highly overstate the company's assets and eventually they got arrested. Creative depreciation / amortization methods can skew the dollar amounts by hundreds of millions. Many derivatives don't even show up on the balance sheets. The balance sheets are not transparent enough to show all the hidden costs and liabilities due to things like toxic mortgage backed securities, credit default swaps, etc. Due to the fact how Wells Fargo behaved in the past, I wouldn't be surprised if something explodes later and make news headline.
@byz+1tzQ9Dz8: Everything at Wells Fargo is fake.
….Except the toxicity.
Everything at Wells Fargo is fake.
It all begins with our fake CEO.
I went from going to Golden Spoke to "Does Not Meet" within a year (primarily because my major project was cancelled, after all of my other projects were taken away to make room for this major project). It also placed a convenient target on my back, and from their standpoint had the intended result, as I left the bank within a few months of that review.
Every indiamanager must go!
Report to EEOC. Local media and senators help too.
You should write the media and your local representitives.
I hope the earnings and financials aren’t fake.
AND you cannot not arbitrate!!