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Warren says Wells Fargo execs should be criminally investigated

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Mortgage Professional America | 21 Sep 2016, 08:15 AM Agree 0
In a blistering rebuke, Sen. Elizabeth Warren told Wells Fargo CEO John Stumpf that he should resign and that he and other execs at the embattled bank should be criminally investigated
  • | | 21 Sep 2016, 11:25 AM Agree 0
    Warren needs to resign she is CANCER TO THE MORTGAGE BIZ.
  • SaveAmerica | | 21 Sep 2016, 11:53 AM Agree 0
    Another crazy Democrat running their trap proving what a complete and idiotic clown they really are. Vote these imbeciles out of office and stop letting them get there in the first place.
  • Concerned about America | | 21 Sep 2016, 12:24 PM Agree 0
    Wow - it sounds like you're the imbecile. These executives need jail time otherwise it will continue to happen. Situations like
    this give reputable banks a bad name.
  • eighty-six | | 21 Sep 2016, 12:42 PM Agree 0
    The rancor and disgust came from both sides of the proverbial aisle, folks. There's no need to troll for your Dem's or troll for your Repub's. The senators of both parties were equally outraged by Stump's meager attempts to douse these roaring flames.
  • DGD | | 21 Sep 2016, 02:17 PM Agree 0
    How can anyone in their right mind defend WF or any other too big to fail bank? They continually prey on innocent customers and other parties for their own greed. I don't agree with the carte blanche power the CFPB has been given, but obviously some sort of control and monitoring is needed to protect the public from scams, irresponsible servicing and putting a hurt on innocent victims.
  • | | 21 Sep 2016, 02:39 PM Agree 0
    How many banks are still reputable? It looks like this behavior goes beyond Wells Fargo. Senator Warren also called on the FBI and Justice Dept. to look into the original Financial Crisis Inquiry Commission (FCIC) hearings led by Phil Angelides that named at least 9 executives as culpable for the housing bubble bust that caused the Great Recession.
  • BD | | 21 Sep 2016, 04:11 PM Agree 0
    I do not disagree with jail time if they are culpable, but did I hear of any jail time for the fraud perpetrated on Veterans by falsifying records and literally killing people in the process or anyone getting jail time for the destroyed emails of Hillary Clinton's to avoid prosecution?
    Obviously some people are above the law.
  • NoSpinJustFacts | | 23 Sep 2016, 10:23 AM Agree 0
    I do not hear Senator Warren calling for the jail time for the politicians and their bureaucratic regulators that created the housing bubble and financial crisis by forcing the lending community to start making the mortgages to their under-served (code for bad credit no money = vote democratic) consumers. For over 60 years the lending community served the home ownership market with great stability lending guidelines. When the Democratic party decided to force the lending community to make mortgages to unqualified consumers, it ended the long history of stable home lending the lending community provided.

    Senator Warren provides nothing more than her politician role to distract from the screwing of citizens by politicians and their bureaucrats. Look at Senate Bill 190 of the 109th Congress (2005 -2006). It was well know the housing crisis was being created that would lead to a financial crisis. Also see "The Role of Government Affordable Housing Policy in Creating the Global Financial Crisis of 2008."
  • NoSpinJustFacts | | 23 Sep 2016, 10:25 AM Agree 0
    Here are some more facts on the Democratic party's creation of housing crisis:

    First, watch this video of Barney Frank obstructing regulators and defending Fannie Mae and Freddie Mac.

    Here he is in 2005 claiming that fears of a housing bubble are unfounded.

    Here’s the timeline showing who wanted to regulate Fannie and Freddie, and who blocked regulation.

    Here’s video from a hearing showing Democrats opposing regulations:

  • Perfparjer | | 23 Sep 2016, 01:55 PM Agree 0
    I was actually impressed with Senator Warren's passion and continual attack of the Wells executive. Gave new meaning to the Bankers lament "circle the wagons". Her tactic was the most impressive submitted by group of imbeciles on the panel. Most were "go along to get along" and get this over. But her attack falls flat when she recommends Labor Dept continuation of any investigation pertaining to low pay. In fact, if she wants exec jail time she needs to recommend the case to our Justice Dept. But Senator Warren knows our Attorney General and President will not start any wheels turning to go after anyone committing crimes. They may get an interview from our FBI Director Comey, for show however.
  • John J | | 26 Sep 2016, 10:53 AM Agree 0
    She sounds like Trump !

    YOUR FIRED !!!!

    Love it!!
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