The Fraudulent Wheels that fueled the growth of Wells Fargo Bank

Where do I start? Let's see. Today, I have a lot to say, but, it will take a long post to do it and I'll go with the flow. I have different angles for the documentary I watched around the bank, Wells Fargo, today, and I don't really which part of the wall I should put the nail on.
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You see, the documentary showcased former employees at the bank coming out as witnesses to the fraudulent activities that went on and on in the bank. The first time I knew the people working in the banking sector weren't as happy as their clean suits and ties was when I got a quick job as a secretary in one of the Microfinance Banks in my state.

I did not go ahead with that job because my former boss was angry that I was leaving him after he most certainly taught me everything I knew. So I ditched the job and continued working with him.

But in the two days, I had the chance to sit at the table of the morning discussions, I knew bankers go through a lot and risk their mental health at the same time to put food on the table. They had a lot of targets to meet in order to get their payment and of course, commissions.

So, this documentary on Wells Fargo Bank revealed the different measures those bankers had to go to be able to keep their jobs. The fact that they opened bank accounts, issued credit cards, and different charges without the consent of their customers was deafening, to say the least.

Today, I understood why every time I had an issue with my account, my account manager would advise me to open another one. It was all a piece of the story that makes it possible for them to meet their targets while I get charged subsequently on those newer deposit accounts.

You know I recently saw a whistleblower on Twitter say that the new online banks we have these days opened accounts without the consent of people in the past even before they became popular today. I did not take it seriously because I thought how's that even possible? Of course, I know our information is not safe but to think a bank, a reputable one, would go through such measures to meet targets and promote their stock prices did not occur to me.

Now that I watched this documentary, I realize it could have happened. So, that person was right after all.

You know the craziest part of it? It's the fact that while Wells Fargo bank had this ongoing litigation, their stock prices weren't taking a hit. This shows that stakeholders and investors had different needs or priorities.

When Glazer, one of the staff who was fired for trying to point out the bank's fraudulent activities said it, I remembered how Marty Barde did not care about morals when he used The Blue Cat Lodge as a money laundering front. He was mostly concerned about cleaning his money so when Rachel found it, it didn't bug him. He still asked for more time to finish his mission before he got out of her hair.

So Glazer Said;

Something that hundreds of thousands of consumers could be deeply upset about, and yet, the stock is rising. It shows that oftentimes investors just have different priorities than consumers.... But that's life. Dirty Money- TV Series- 2018–2020

True to her observation, investors have different priorities, what you would think would make them pull their money out, they won't. They are mostly concerned about making profits instead of what the world thinks is fair or good. And since Wells Fargo was still making them money, plus, the fact that Donald Trump then boosted the banking sector by promising and giving a lower tax rate, meant more money for anyone who was a shareholder. So when everyone on the ladder met targets, each of them received big commissions as payout and the cycle continued.

Again, I don't know what to do with this information. I don't know what angle to go around it and whisper something lesson-worthy to you.

However, I have one thing. It's the Blockchain. It's cryptocurrency. You can see why the transparency we have in this industry is second to none. The fact that you have an account or credit card without your consent as a result of a banker opening it hoping to meet his target is a good reason to embrace WEB3. This is because you make your own financial decisions, you can see everything on the chain. No one is messing with your name, identity, account, or whatsoever. No one is generating a social security number for you even before you need one. The lady said, bankers even opened accounts for their pets, they just did not care as long as they were meeting targets.

Their family members were encouraged to open more accounts than they needed to help them keep their jobs. All of these are done to the detriment of the consumers. Making low-income folks continue to struggle with their finances while they keep charging them for something they can't explain, depleting their income, and their ability to increase their standard of living.

Choose Cryptocurrency today, for it's the industry that promised freedom, and every day we see it as a perfect alternative to our slavery-inflicted traditional banking system.