NYTimes: At Wells Fargo, Complaints About Fraudulent Accounts Since 2005

At Wells Fargo, Complaints About Fraudulent Accounts Since 2005 http://nyti.ms/2dVNb8W

Just to confirm our original reaction to the inacceptable blaming of the employees by John G. Stumpf, the bank’s chairman. The New York Times writes that since 2005 the behavior was known to the chairman too and that who reporter these facts was also fired from the bank.  His behavior at this point is confirmed to have been worse than what we have seen with Banca Popolare di Lodi a few years ago in Italy.

Now the only interest in this story remains a purely academic comparison of the two legal systems (reaction and timing).

“The Stanford Prison Experiment”, a 2015 movie by Kyle Patrick Alvarez, inspired to the psychological experiments run by Philip Zimbardo at Stanford University in 1971 could be useful to describe the metaphor of the leadership style that helped Mr. Stupf team in getting to the results we are discovering today.

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