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Wednesday, February 21, 2018

In the American election race stepped in the big Bank Scam

On Friday came the development of the scandal, which discusses all of America. Hundreds of thousands of people were victims of fraud by one of the largest banks in the country. Although the amount of damage to them small, the bankers were able to convert a Scam in a huge profit for themselves. On the top of the pyramid is billionaire Warren Buffett, a close friend and huge supporter of Hillary Clinton.

In the U.S. is raging scandal around one of the country’s largest banks – Wells Fargo. This financial services company provides a variety of banking – from deposits to loans. The Bank’s management has set for their employees extremely tough plans “to increase sales”. For example, according to the top management company each client must have an average of eight different accounts. For each it is obvious that the average American or Russian citizen there is no use of so many different financial instruments, but a plan’s a plan. And then, according to the official version, the clerks took matters into their own hands – and opening the clients of the Bank about two million accounts without any their (clients) consent. Of course, for that, customers were charged commissions and other payments – on average, each of them lost $ 25, but collectively the sum was impressive.

“Buffett has promised to pay your way to the polling station to any American who wishes to vote for Hillary Clinton

This fraudulent scheme is just the tip revealed in the end “Scam”. Much more than ordinary investors from the actions of the bankers hurt the shareholders. At Wells Fargo there is no single owner, but the largest package (6,5%) before the scandal belonged to the famous billionaire Warren Buffett. Whether it belongs to him now (and if not, why is probably the most important question of all history.

The company’s management was aware of the fraudulent actions of its employees is a long time – at least since 2013. Over the past two years, Wells Fargo has made a serious effort to hush up the story. In particular, the Bank, without much hesitation, fired about five thousand of its employees, zanesennykh in the scandal and agreed to pay a fine of $ 185 million. Such punishment, according to representatives of the CFPB (the Bureau for the protection of financial consumers ‘ rights), should be a warning to other financial institutions who seek to improve their performance by unscrupulous methods.”

Also Wells Fargo will inevitably be a class action lawsuit from defrauded clients, where lawyers on both sides earn millions of dollars, and the Bank may lose billions. But this perspective is quite remote – like trial takes years. And while the attack on the Bank joined the ruling Democratic party. In fact, it is naive to think that such a scandal would not affect the ongoing U.S. election campaign.

For example, close to Hillary Clinton, the Senator from new Jersey Bob Menendez actively posing with his voter Linda Edwards. To set up an additional account in the name of her minor daughter, Bank employees forged the signature of a teenager, and Edwards had to spend a thousand hours” on the rejection of the imposed services. The Bank actively criticizes and Senator Elizabeth Warren – the one that Bernie Sanders and his supporters wanted to see the future Vice President of the United States. Warren – a brilliant representative of the “left” stole the democratic party and has long made a career on criticizing bigwigs on wall Street. What Warren has demanded that CEO John Stumpf left his post, and urged him to return the people’s money, which he earned in 2011 (that is, from the period when the Bank slid into fraudulent methods). She described to discredit the scheme as a “Scam” (scam) and has become the main character of the Senate Committee, which handled the case two days ago. With thunder and lightning, she fell on Staefa and “weak justification”, which was the fact that the management failed to control the actions of their clerks (although the fact itself was forced to add-on).

By the way, in the Senate Stumpf came with a bandaged hand, and after the meeting of the Commission, in the unanimous opinion of the American press, was even more “wounded”. Such a hot session America is not remembered since the mortgage crisis of 2008.

This is Warren didn’t stop and in the night of Friday (Moscow time), with the support of eight other senators, asked the Department of labor with the requirement to verify the validity of the dismissal of five thousand employees, which the Bank was forced to participate in the fraud scheme, while underpaying for overtime and overtime. Besides, with this summary it is difficult to find a job, and people have children, loans and other obligations. In General, according to the American left, a Bank clerk, too, the proletariat and requires appropriate protection from the state.

Another vitally important factor. As you can see, the amount of damage incurred by the Bank clients is relatively small. In aggregate it does not exceed a few tens of millions of dollars (Stumpf insists on a figure of several million, but according to General opinion, it is disingenuous). The Bank has already lost a much larger amount, there will be a long and costly court with angry investors. But the fact is that using this scheme, the bankers have not earned on writing off customers money for opening accounts and for the growth of capitalization – additions provided Wells Fargo a good reporting, shareholder value naturally grew and continued to grow after the Bank has already formally learned about methods of accountability. So the market has turned many small frauds in one large – and extremely profitable.

Under this deal, the bankers wrote out myself a good reward. So. CEO Kerry Tasted received the sum of $ 125 million. And trampled on the Senate Commission Stumpf, according to Warren, earned in the stock trading Bank fraud of about $ 200 million over five years, not counting official salary is 20 million. Top managers could not understand that as soon as the scandal breaks, the stock will fly down (which eventually happened), but continued to make the bubble. And the fines and compensation in the end will not pay them, and the Bank, the main shareholder of which (unless, of course, he hasn’t had to throw those shares), that is, Warren Buffett liberal American media is trying once again for the scandal not to mention. For obvious reasons.

The media serves the story sauce the concerns of the Democratic party of ordinary people (Warren in the image of Nemesis is really a miracle as well). And Buffett is one of the most prominent backers of Clinton and the vocal critics of Donald trump. He promised to pay your way to the polling station to any American who wishes to vote for Hillary in the upcoming presidential elections (primarily for residents of hard to reach places). And about trump responds to the effect that the monkey, which to choose objects for investment, would have earned more than a candidate for the Republican presidential nomination.

Now Trump is the answer. After all, Warren Buffett is a multibillionaire-champion, friend and sponsor, Hillary Clinton, number nine in the list of “most influential people” by Bloomberg –was either the main victim of the multi-layered banking fraud, or its main beneficiary. This small detail can fundamentally change the interpretation of the fraud, causes a stir in America.


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