Monday, May 10, 2010

Wells Fargo is rotten

Voltron says: E-mail evidence in a stock lending lawsuit reveals the rotten culture at Wells Fargo

"I think it is a bad idea to answer these questions right now,"

"We never admit to 'having problems.'"

"Is there a likelihood of a rush to the exits [by clients]?"

"Admitting to losses ... is a big deal for all future business."

"We haven't communicated about this at all. It feels like a ticking time bomb without telling our clients."

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