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IBDvalueinvestin (98.33)

Greed alive and Well at Wells Fargo



December 24, 2013 – Comments (3) | RELATED TICKERS: WFC , SQQQ , TQQQ

Who would have thought that a company that Warren Buffett would hold a large stake in would be forcing its employees to a culture of sales at all costs.


That sales at all costs mentality is called :  GREED one of God's forbidden sins.

See article for full details on the pressure cooker that is in the process of blowing up at Wells Fargo.

3 Comments – Post Your Own

#1) On December 25, 2013 at 5:04 AM, iamnik77 (91.55) wrote:

This kind of greed is a shame. I would rather avoid a company that subjects employees to this.

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#2) On December 25, 2013 at 9:43 PM, IBDvalueinvestin (98.33) wrote:

Your correct, any company that treats its employees like this is doomed to fail in the end because those same employees are also the family members and friends of all its customers. When these employees get fired for not being able to meet unrealistic goals they will not be leaving alone. They will tell their friends and family members about what happened and they too will leave the bank. People have more loyalty to family and friends than they do to a greedy bank and its already starting based on the articles I have been reading.

But it still shocks me to no end that a company is treating its employees here in the 21st century like they did in the early 20th century, have we not learned anything from the greed of the past century? Profits should not be above the interests of both employees and customers alike.

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#3) On December 26, 2013 at 10:36 AM, MoneyWorksforMe (< 20) wrote:

I lost complete respect for Warren Buffet years ago. And this is coming from someone who once nearly idolized him. He is crony capitilast scum. After making billions, and now well into his 80's this guy still manages to enrich himself by exploiting others, particularly Americans. 

As for the behavior of Wells Fargo -- this does not surprise me in the least. The mistakes that were made before the financial crisis are being repeated. Nothing has changed; nothing has been learned.

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