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Wells Fargo bank exec, who supervised creation of 2 mllion fake accounts, scores $125M payday
Wells Fargo exec linked to scandal collected $125M in exit pay
Sep 12th 2016 4:12PM

Quote: The leader of the team at Wells Fargo that created 2 million unauthorized customer accounts retired earlier this year with a massive payday of $124.6 million. And it doesn't appear the bank will claw back any of that money. Carrie Tolstedt, the executive in charge of the unit in which 5,300 employees created the accounts to hit sales targets, will be able to walk away without paying back any of the money.

Upon her exit, Well Fargo's CEO John Stumpf praised Tolstedt, calling her a "standard-bearer of our culture" and "a champion for our customers." Before her retirement, she had been with the company for 27 years and was the fourth highest-paid executive. Wells Fargo has agreed to pay $185 million to settle claims it had defrauded its customers, the largest penalty ever imposed by the Consumer Financial Protection Bureau.
"All that is necessary for tyranny to succeed is for good men to do nothing." (unknown)

James Tracy: "There is sometimes an undue amount of paranoia among some conspiracy researchers that can contribute to flawed observations and analysis."

Gary Cornwell (Dept. Chief Counsel HSCA): "A fact merely marks the point at which we have agreed to let investigation cease."

Alan Ford: "Just because you believe it, that doesn't make it so."

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