Letter From the Publisher: Dodgers Blues | Opinion – California News

Letter From the Publisher: Dodgers Blues | Opinion – California News

Wells Fargo seems to be in hot water again. The bank cleans up one mess and another immediately appears. Just go to Google and put in “Wells Fargo problems.” Before it was unasked-for credit cards. Now it’s unasked-for shenanigans in auto insurance. One could only slowly begin to conclude that there is something seriously wrong in the culture of this bank despite its promises to reform and clean up its act—it simply can’t or won’t do it. We are all used to institutions that are too big to fail. Now it’s about institutions too large to change and too big to know what’s going on in their own organizations. Except that they really do know, but if it’s making them money, they really don’t seem to care. The only way to change a large institution like Wells Fargo is if some prosecutors like the California Attorney General or a district attorney from some large county like San Francisco or Los Angeles have the nerve to actually do their jobs by going to a grand jury to present their case and maybe indict some officers of the company if the evidence is there. I would think that the company culture would change very rapidly if they took some senior bank officers out in handcuffs, charged them with conspiracy or RICO violations (that’s racketeering) and served a bunch of search warrants on the bank. The New York State Attorney General and the U.S.

Attorney in Manhattan have been a lot more courageous and aggressive than their counterparts out here in policing large institutions. In the meantime, the best we can do individually…

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