It’s time for a new board and perhaps a new chief executive officer at Wells Fargo (WFC) now that we have found that there were 67% more fraudulent accounts created to inflate earnings than previously thought.
The addition of 1.4 million more instances of false account creation, bringing the total to 3.5 million, is so outrageous that it’s time to bring in a special master, someone appointed by a court, to oversee this bank to be sure it is not a rogue operation. I am talking like something akin to the ongoing oversight the federal government has of the Teamsters Central States Pension Fund.
