The 5,300 Wells Fargo employees who set up 2 million bogus accounts to bring in a measly $5 million in extra fees are being fobbed off as "a few bad apples."
They're not. They're the product of a global corporate culture of entitlement and corruption. The proverbial tip of the iceberg.
Don't get me wrong - Wells' misdeeds are bad, but there's much, much worse going on in the banking sector right now.
The moral hazard and casino banking underway at this very moment are putting the entire global financial system at risk - again - when we've barely recovered from the last crisis.
Tags:market crash
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