Demographic or social factors of people being frauded. Mr. Stumpf i do not know what the intent of these people were. To answer your question specifically, there was no racial or ethnicity difference other than the communities because we try to have people in our banks that represent the communities. We will take that off the table here. As someone who populates a district heavily populated by seniors, i am worried that wells fargo may have preyed on those that were seen as vulnerable. Mr. Stumpf because we actually first, there was no disproportionate. In fact, it was younger people, not seniors if there was any emphasis at all. Ok. To be clear, i do not think sales goals are inherently evil. Anyone who is owned a business there is a reason to incentivize. Your company forgot the most important part. Serve. He people you i am increasingly concerned that this misguided idea of success puts actual customers in the category of least concerns is perpetrated by more than just wells fargo.
Statue of liberty, there is a poem by m. Lazarus who says bring me your tired, your poor, your huddled masses wanting to breathe free. 12,000 refugees at displaced population of almost five million. Weve seen these heartbreaking pictures of children who are being killed. And think about i guess were talking about 400,000 syrians being killed in this. What about what our and b is as human beings what our obligation is to other human beings. These are people who are fleeing isis. These are people are fleeing an assad regime that uses poison gas against civilians. The u. N. G process is first, refugee, first vets people hands them to us. Average a over on year and a half before we vet them, is that correct . Yes, thats correct, senator. Senator franken and have we had any dulls that came over in syria engage in some sort of errorist plot . No, senator, not to my knowledge. Senator franken you know, my grandfather came from russia. He arrived and saw that on the statue of liberty. He was o
And the vast majority of everything we do is right. Firing the highest number of people in 2013 but bragging about your presentation penetration rates in 2014. You knew it was material to shareholders and you knew it was a funny number that you fired people phony number that you five people for falsifying. Fired people for falsifying. We did not know if those were good accounts are not. We looked at 20,000 credit you fired 5300 people. He took 5300 could americans and turned them into felons with a system that you created, benefited from and drop your stock price up by bragging about your levels of new accounts. I disagree with that. Im not surprised. We have institutions that are too big to fail. We found that they were too big not to bail. Eric holder has told us that they are too big to jail saying he fears for bringing equivalent indictment. We now learn they are too big to manage, too big to regulate. It is time to break them up. The time has expired. The chair recognizes the gent
Europe, germans biggest brought to to mes by american authorities either way we will be affected, welcome to the world of Systemic Risk its back. Opec a deal to get oil prices up will they stick to it jury out oil prize down a faction today. And, of course, Varney Company is all over the election the story this morning number one, media, more apoplectic attacks on donald trump number two, liberate barrierian gary johnson another aleppo moment, three trump goes into attack mode follow hillarys money that crooked woman he says. Just wait till you see what amazon is doing you are watching it now, i have been around a long time, you dont every see anything like that Varney Company is about to begin. Stuart get out of the way from getgo slightly other opening for stocks today, Economic Growth is still well below 2 , that was news this morning, oil consider this please. The saudis opec agreed to production cut, just as 9 11 victims get right to sue saudis a coincidence . We are on it oil dow
Advantage of customers and consumers when we had the financial crisis. I have individuals right now who are on the street, on the street, not back in their homes. They had these fraudulent mortgages. Nobody said, im sorry that we gave you these fraudulent mortgages. Were going to put you back in your home and were going to make sure that everything is ok. No one has done that for them. You havent volunteered to do that. Will wells fargo put people back in their homes . Mr. Stumpf congressman, if i could respond for a second, please. Theres no question we dont do everything right and we made mistakes. Were upping our game. Mr. Meeks so who should pay for it . Who is accountable for it . Mr. Stumpf we are going to make it right for every one of our customers. Mr. Meeks your institution is make over 22 billion yearly. Who is paying for it . Whos taking responsibility for it . Dont come tell me youre sorry mr. Stumpf were taking care every one of our customers who is impacted. Mr. Hensarli