Re: Wells Fargo Exec Taken to Task

sidsmom · ‎11-25-2011

Ethics?

I worked for a very large national Bank & every associate was required to take Ethics Training. No pity for associates who knowingly steal from their employer.

Ms X · ‎09-13-2012

I don't know how someone could take these huge bonuses when he/she is being let go for poor performance and knows that many workers lost their jobs because the company didn't do well. You'd think they'd at least ask the company to share some of it with the workers so their health insurance won't be canceled and such.

Years ago, a major corporation that you all know laid off my friend's husband after 25 years. They'd strung him and the other workers along for a year, lying to them. Then they asked them to come in for a meeting one Monday morning at the start of the work day. They were all laid off and their health insurance terminated. The company was declaring bankruptcy of a sort (the company didn't fold completely). The executives gave themselves big bonuses, which were approved by the judge when they submitted the papers to the court. How is this not theft of the company's money? Clearly it isn't because they did it and the judge okayed it.

momtochloe · ‎11-03-2013

@ZoetheCat wrote:
@momtochloe wrote:
@Goldengate8361 wrote:
@momtochloe I agree!! And, shame on those employees who readily violated their own personal integrity to do those things, too. They are equally guilty.
@Goldengate8361 I totally get and agree with what you are saying but these are probably young people that haven't had the proper guidance in ethics as the bottom line has become more important. Customer service and being proud of your work has kind of fallen by the wayside unfortunately (and please know I am not telling young people to get off my lawn but they should also know that whatever you are doing to someone a derivative of that person will most definitely do the same to you).
I truly do not want to be disagreeable, but do you honestly believe that these employees had a choice? It seems to me that in corporate America, lower level employees are forced to do things just to keep a job. I don't defend their actions, but I also get that people who need a job will do what it takes to keep that job. I am really tired of the people at the top getting away with this behavior with their golden parachutes while the worker bees are left out to dry. Enough already.

Oh I am sorry @ZoetheCat that I didn't make this clearer as yes I totally agree with what you said. These are young people that are following the examples of their managers/superiors and lost their jobs in the process after following the examples of those that are enjoying major bonuses.

This whole thing makes me sadder than I can say.

ZoetheCat · ‎11-30-2014

@Goldengate8361 wrote:
@ZoetheCat Yes, those employees absolutely had a choice and they knowingly made the unethical choice. They are accountable for their personal behavior, too. And, apparently, this was not rare. The need to have integrity isn't limited to those at the top: it's everyone's responsibility.

Of course they had a choice. And that choice probably involved shall I pay the rent this month or not. I would just like to see a world where people can go to work, do their jobs, and not have to think about whether what they are doing is ethical or not. I'm not a Pollyanna. I get that we all have to make difficult choices. But it seems to me that these days people are increasingly being forced to do things that they would not normally do just to keep their jobs. The bottom line is that it's easy to condemn low level workers when they make questionable choices. Why do we not hold their bosses to the same ethics? Why do we castigate those who have little alternative and yet we excuse those who have golden parachutes? Those at the top have lots of options. Those who are following orders? Not so much...

roeroe1005 · ‎03-13-2010

My dad has an account at WF for direct deposit of his pension. My sister and I are linked to this account. Every couple of months, I would get an e-mail from WF security mentioning that my account may have been "compromised" and to change my password. So I would call WF, or go to my local bank, to have them check it out. I have very little $$, but I was concerned for my dad's account. No wrongdoing was ever found.

After reading about this, now it all makes sense. Crazy.

I agree, that so called "exec" should be thrown out with no parachute!

NicksmomESQ · ‎08-19-2014

I don't get why the top executives are not facing criminal charges!! Wall Street gets to constantly screw up mainstreet & get away with it!! It's deplorable!!

Elizabeth Warren is my hero too.She is fearless in sticking up for those of us who don't have a voice!! Those guys should be in jail!!

ZoetheCat · ‎11-30-2014

@momtochloe wrote:
@ZoetheCat wrote:
@momtochloe wrote:
@Goldengate8361 wrote:
@momtochloe I agree!! And, shame on those employees who readily violated their own personal integrity to do those things, too. They are equally guilty.
@Goldengate8361 I totally get and agree with what you are saying but these are probably young people that haven't had the proper guidance in ethics as the bottom line has become more important. Customer service and being proud of your work has kind of fallen by the wayside unfortunately (and please know I am not telling young people to get off my lawn but they should also know that whatever you are doing to someone a derivative of that person will most definitely do the same to you).
I truly do not want to be disagreeable, but do you honestly believe that these employees had a choice? It seems to me that in corporate America, lower level employees are forced to do things just to keep a job. I don't defend their actions, but I also get that people who need a job will do what it takes to keep that job. I am really tired of the people at the top getting away with this behavior with their golden parachutes while the worker bees are left out to dry. Enough already.
Oh I am sorry @ZoetheCat that I didn't make this clearer as yes I totally agree with what you said. These are young people that are following the examples of their managers/superiors and lost their jobs in the process after following the examples of those that are enjoying major bonuses.

This whole thing makes me sadder than I can say.

No problem. I totally agree with you. People, especially young people, follow the examples they see. You are so right. This is just sad...

momtochloe · ‎11-03-2013

@sidsmom wrote:
Ethics?
I worked for a very large national Bank & every associate was required to take Ethics Training. No pity for associates who knowingly steal from their employer.

Again @sidsmom I am not looking to argue here but providing Ethics Training and actually enforcing it is two different things. How on earth did these descrepancies slip by their auditors?

To be honest, I was more than surprised that Wells Fargo was caught up in this as they were not one of the banks that hosed the financial system in the 2007-8 meltdown. I thought they were better managed than this, live and learn I guess.

terrier3 · ‎03-10-2010

@sidsmom wrote:
Ethics?
I worked for a very large national Bank & every associate was required to take Ethics Training. No pity for associates who knowingly steal from their employer.

They weren't stealing from their employer - the bank forced them to sign up a quota of new accounts, and looked the other way for YEARS.

The bank stole fees from their customers...it's not like the clerks made extra money by doing what they were forced to do.