Wells Fargo investment unit paid director's son $1.4 million

  • Article by: Dakin Campbell , Bloomberg News
  • Updated: March 27, 2013 - 8:47 PM

SAN FRANCISCO – Wells Fargo & Co., the most valuable U.S. bank, paid a board member’s son about $1.4 million last year for his work in a unit responsible for investing deposits.

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workforit1Mar. 27, 13 8:46 PM

Why is this news? From the headline they made it sound like the guy did not work there. If he was an employee and other individuals in the group made about the same comp, then why is this news? Just because it was a directors son? Big deal...Must be a slow news day

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gjacobMar. 28, 1311:15 AM

No employee of a public company is worth $1.4M. Executive compensation oversight is a joke as one hand washes the other.

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hjlazniMar. 28, 13 2:05 PM

"The principal investments group, which buys bonds with the bank’s own money and excess customer deposits, has been among Wells Fargo’s most profitable units" What are excess customer deposits?

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dumbgopMar. 28, 13 2:24 PM

can you beleive that these rich republicans keep doing stuff like this and not getting in jail. This is ilegall, I know cause im a democrat. You no bloomberg never had any family werking fer him.

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bgmach3Mar. 29, 13 1:18 AM

Bankers, hmmmm, probably don't have a word low enough to describe them. Probably the same word that could be used to describe the politicians that owe them their re-elections.

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rlwr51Mar. 30, 1311:44 AM

Have we had enough yet?

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rlwr51Mar. 30, 13 3:34 PM

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." Henry Ford - - - Could he have been wrong?

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