Wells Fargo CEO Stumpf tells protesters: I get it

  • Article by: JENNIFER BJORHUS , Star Tribune
  • Updated: November 9, 2011 - 6:07 AM

A group disrupted the Wells Fargo CEO's talk in Minneapolis. He said the 1 percent and the 99 percent need to work together.

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a1batrossNov. 8, 1110:15 PM

After 20 years, they lost my business on Saturday. Move your money into a locally based credit union, that's the only message guys like Stumpf understand.

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fraudvictimNov. 8, 1110:43 PM

Is this how Wells Fargo CEO John Stumpf shows that he gets it? Wells Fargo's public lies and deceptions. Facts: 1. Wells Fargo assigned false valuation on my home and originated fraudulent mortgage loan based on its false valuation in 2005 which I can't get rid off. - loan origination fraud. When Chase EMC mortgage unit sold fraudulent mortgage loans to Wells Fargo, Wells Fargo was able to demand the buy back and its related financial losses. However, I stucked with Wells Fargo's fraudulent mortgage loan that I can't get rid off. Wells Fargo holds 49% share of Rels Valuation. Rels Valuation is an appraisal managment company. Appraisal is the vital piece of mortgage lending process. 2. After Wells Fargo originated me a fraudulent mortgage loan, it concealed the quality of the mortgage loan and sold it to a pool of investors as mortgage-backed securities which currently managed by U.S. Bank. 3. After Wells Fargo made profits out of its fraudulent mortgage loan multiple time, it foreclosed on our home and falsified IRS tax form to write off its so-call 'loss' when it no longer owns the mortgage loan. 4. Wells Fargo stonewalls me and refuses to address my complaints. www.wellsfargomortgagefraud.com

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bhappyNov. 8, 1111:01 PM

Why are they being foreclosed? Did they not pay their bills? What is the story here?

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refurnishNov. 8, 1111:04 PM

What happened to this story earlier posted on StarTribune: "Wells Fargo agrees to pay $37 million in municipal bond bid-rigging lawsuit." So Stumpf gets it? My neighbor and friend has his home foreclosed last week and Wells Fargo bought it at the Sheriff's sale and he will be without his home and his sole investment. So Stumpf gets it? And we get shafted ~ My brother tried to obtain mortgage mitigation without any luck and has stopped paying his mortgage as he does not the money. So Stumpf gets it? Stumpf and his corporate cohorts get millions of dollars in salary and stock options every year? Stumpf gets it ~ ! ~

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csitzmanNov. 9, 1112:18 AM

This is the same company that last week was outed for being one of the top 30 corporations not paying any income tax the past three years, and being the top recipient of corporate tax breaks. Stumpf may "get it", but not enough to clean things up at Wells Fargo. Clearly there is a culture of greed, fraud, unethical and immoral corporate behavior at Wells Fargo. Mr. Stumpf's words lack honesty and sincerity, and clearly as CEO, things are not changing under his leadership. Time for Mr. Stumpf to go back to his hometown and spend some time there re-learning what it means to work for a living and living paycheck to paycheck.

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SupervonNov. 9, 11 5:40 AM

I like the banks. I invest in them. I worked hard and paid off my house years ago by not buying too big a house and no toys (sans skis) or expensive outings. I don't see why others can't do this and prepare themselves for the tough times by saving-but-if running around in expensive vehicles and living on your credit cards is your life, then prepare for the consequences.

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norselandcNov. 9, 11 6:19 AM

Stumpf says he gets it. But don't believe his bank has any intention of putting people before profits. They will play hardball behind the scenes and talk a benevolent game until more people switch to other banking options. And don't mistake such moves for class warfare. That is when the customers show up with pitchforks and torches.

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go4guyNov. 9, 11 7:10 AM

Did that girls parents not pay their mortgage? Whos fault is that? At the time the got the mortgage, the obviously were able to prove they could pay it back and signed an agreement to do so. And what does that have to do with this girl going to school? I didnt get any financial assistance from my parents, and I made it thru the U just fine. Something doesnt add up here.

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minneg56Nov. 9, 11 7:12 AM

SuperVon- certainly your logic and hard work are noble endeavors. My guess is that you may not have had to take care of aging parents out of pocket, or had to take care of a disabled child or lost a job/had a business failure. Many hard working intelligent people have set off on the same path as you have ... only to find some very expensive, unpredictable life events beset them. Understand and be grateful that life has dealt you the good cards you've seemingly been dealt. But also understand there are those who have had challenges which they didn't necessarily ask for. Continued good luck to you.

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momae1Nov. 9, 11 7:18 AM

How come all you people that are losing your homes and mad now didn't complain when you were all siging your name on the dotted line? No body forced you to take these easy loans, you CHOOSE to accept an easy deal. I'm not a fan of big banks but c'mon people--if the deal was too good you knew it was to good to be true. Take self responsibility!

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