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  1. #2911
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  2. #2912
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    Yahoo confirms huge data breach; Computer hackers swiped personal information from at least 500 million Yahoo accounts in what is believed to be the biggest digital break-in at an email provider.
    Last edited by allegro; 09-24-2016 at 12:43 AM.

  3. #2913
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    Quote Originally Posted by onthewall2983 View Post
    This is awesome, Wells Fargo is such shit, I really wish more people would watch THIS WHOLE THING to see what a fucking scam this shit is.

  4. #2914
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    It's interesting reading about the whole Wells Fargo scandal and relating it to a lot of my own experiences with them. They're the only bank I've ever had, and I've often found their people to be incredibly pushy and aggressive. Like, "Dude, I just want to get this cash put into my account real quick before work. Can I just do that without the high pressure sales pitch EVERY FUCKING TIME?"

    I always knew there were some kind of hardcore incentives driving them to act that way, but I never dreamed that it would blow up into a big scandal like this. Shows you how fucking stupid sales incentive programs are in general, especially those with quota requirements. The shit detailed in this Bloomberg article is just unreal: http://www.bloomberg.com/news/articl...uotas-itgbnpto

    They were each pushed to land TEN NEW ACCOUNTS A DAY?? Wtf did they think was gonna happen? "One of those customers was an exchange student making $300 a week who had four accounts, including two with negative balances." Unfuckingbelievable.

  5. #2915
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    I get that people need work, but I would never ever work for a company who do this shit to their own employees. We had a store here which forced their cashiers to sell candy bars after they took care of your groceries and if they didn't sell certain amount per month, they got a pay cut. This was a huge supermarket, what difference does it make if your cashier sell three twix bars a day? I can think of any reason why they'd do this other than the manager just really hated his employees.

    Good on them for taking this to court, I hope they'll burn.

  6. #2916
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    Quote Originally Posted by Mantra View Post
    They were each pushed to land TEN NEW ACCOUNTS A DAY?? Wtf did they think was gonna happen? "One of those customers was an exchange student making $300 a week who had four accounts, including two with negative balances." Unfuckingbelievable.
    It didn't matter, the accounts were only intended to look good to stock holders and to entice new stock holders, and to sell more stock. It made Wells look bigger on paper plus these accounts generated fees.

    They definitely need to claw back that money from Tolstedt. What bullshit.

    Btw, this shit isn't just at Wells:
    http://money.cnn.com/2016/09/22/inve...inkId=29086408

    The relentless focus on cross-selling is not new. Bob Hedges, global head of financial service practice at management consulting firm A.T. Kearney, said the emphasis began in the 1970s and 1980s.

    "It's like at McDonald's, if you order a cheeseburger, they ask if you want fries," Hedges said. At a bank, if you open a checking account, they'll ask if you want a debit card."

    Banks have discovered that the more products customers have, the less likely they'll be to jump to another bank. Multiple accounts can also be profitable for the fees they generate.
    Last edited by allegro; 09-24-2016 at 10:49 AM.

  7. #2917
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    Quote Originally Posted by telee.kom View Post
    I get that people need work, but I would never ever work for a company who do this shit to their own employees.
    Well, for what it's worth, I have noticed that there's an incredibly high turnover rate at my local branch. I'm sure some of that just has to do with the fact they make pretty lousy money, so a lot of people just view it as a temporary job, like retail or whatever. But I also suspect that all the quotas and the pressure must create a miserable work environment, so people get out of there as soon as they can.

    Quote Originally Posted by allegro View Post
    It didn't matter, the accounts were only intended to look good to stock holders and to entice new stock holders, and to sell more stock. It made Wells look bigger on paper plus these accounts generated fees.
    Right, so isn't this basically just a ponzi scheme? Maybe Wells Fargo weren't literally falsifying their accounting records or whatever, like Worldcom or Madoff or (allegedly) BNY Mellon, but in spirit it's a similar idea. They gain investors by presenting this image of steady growth, but that growth isn't based on anything real. It's not like people opened all those accounts because of how awesome and in-demand Wells Fargo is, so it's all kind of hollow. And yet here's this article from last year gushing about what a great investment WF is: http://money.usnews.com/money/person...nk-stock-today

    This is my favorite part of the article...

    And if good standing with customers counts, consider that Wells Fargo finished No. 1 on the 2014 Strongest Financial Services Reputation List compiled by Makovsky, an independent integrated communications firm.

    So for all the expert analysis and charting, Eshet may sum up a crucial element of Wells' success best: "While it's rewarding to see the market cap grow, it's a result of what we're doing every day and what we've focused on for years and years and years: the customer and the means they need to succeed financially."
    Ah yes, they love their costumers so much. That's why they constantly hassle them and pressure them into opening a bunch of pointless bullshit accounts that they have no need for.

    Also, apparently Warren Buffett loves Wells Fargo because they're such a solid investment? lol

    And regarding other banks doing cross selling too...Yeah, I always assumed this, which is why I never bothered to jump ship. Sometimes I would think "Man I should dump this fucking bank, I'm sick of getting hassled every time I go in." But then I figured what's the point, it'll probably be just as bad over at U.S. Bank or anywhere else.

  8. #2918
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    Quote Originally Posted by Mantra View Post
    And regarding other banks doing cross selling too...Yeah, I always assumed this, which is why I never bothered to jump ship. Sometimes I would think "Man I should dump this fucking bank, I'm sick of getting hassled every time I go in." But then I figured what's the point, it'll probably be just as bad over at U.S. Bank or anywhere else.
    Which is why so many people are jumping ship to credit unions.

  9. #2919
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    Quote Originally Posted by allegro View Post
    This is awesome, Wells Fargo is such shit, I really wish more people would watch THIS WHOLE THING to see what a fucking scam this shit is.
    8 because it rhymes with great. What a douche bag. Don't these corps and BoDs have ethics rules? Doesn't that Stumpf have a soul? He blamed everyone but took no accountability.

    Elizabeth Warren needs to ride those guys hard

  10. #2920
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    Quote Originally Posted by allegro View Post
    This is awesome, Wells Fargo is such shit, I really wish more people would watch THIS WHOLE THING to see what a fucking scam this shit is.
    Quote Originally Posted by Dra508 View Post
    8 because it rhymes with great. What a douche bag. Don't these corps and BoDs have ethics rules? Doesn't that Stumpf have a soul? He blamed everyone but took no accountability.

    Elizabeth Warren needs to ride those guys hard
    Wells Fargo’s board is remembering what boards do now. Following the bank’s fraudulent sales scandal,it’s making CEO John Stumpf forfeit $41 million in unvested equity and forgo his salary during the investigation and bonus for 2016. Former head of retail banking Carrie Tolstedt is also forfeiting $19 million and retiring early.

  11. #2921
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    Last edited by allegro; 09-28-2016 at 04:30 PM.

  12. #2922
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    Quote Originally Posted by allegro View Post
    Honestly. I don't know what I would do with that much coin. Spend the rest of my life giving it away?

  13. #2923
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    thats all great (sincerely), but none of this will stop until people go to jail. Taking away some millions from people that are already multi-millionaires does nothing.

  14. #2924
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    Quote Originally Posted by bobbie solo View Post
    thats all great (sincerely), but none of this will stop until people go to jail. Taking away some millions from people that are already multi-millionaires does nothing.
    I think jail isn't even a big enough deterrent. They need to go to jail, but they end up going to "Club Fed" which doesn't scare them, either; look at where Bernie Madoff is serving, for instance. Ditto for Jeffrey Skilling of Enron. And (the late) Charles Keating, Jr.

    Jail them, but we also need rules and regulations that obviously OUTLAW these procedures and then we need babysitting (oversight), kind of like they're doing now with mortgages. But, really, we can't totally stop or prevent greed any more than we can totally deter any crime. Even the death penalty does not serve as a deterrent.
    Last edited by allegro; 09-29-2016 at 02:59 PM.

  15. #2925
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    Hey, Terry Bradshaw, please stick to trying to make football seem smarter than it is. Your political knowledge is off and dated. I'll go ahead and blame it on repeated shots to the head. The country wasn't formed on Jesus. Stop talking.

  16. #2926
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    https://weather.com/storms/hurricane...states-impacts

    There's now mandatory evacuation in my city (St Augustine). I'm packing up all our animals in a little bit and heading out.
    Anybody else lucky enough to live in the possible impact zone?

  17. #2927
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    Quote Originally Posted by hellospaceboy View Post
    https://weather.com/storms/hurricane...states-impacts

    There's now mandatory evacuation in my city (St Augustine). I'm packing up all our animals in a little bit and heading out.
    Anybody else lucky enough to live in the possible impact zone?
    Hope you and your pets stay safe.

  18. #2928
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    Thanks. I'm in Orlando now, we're safe, but...
    My neighbor called that my front door was kicked in... the storm is pretty bad so she can't go out to look at it, but my house might have been looted last night and there's nothing I can do about it...

  19. #2929
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    Quote Originally Posted by hellospaceboy View Post
    Thanks. I'm in Orlando now, we're safe, but...
    My neighbor called that my front door was kicked in... the storm is pretty bad so she can't go out to look at it, but my house might have been looted last night and there's nothing I can do about it...
    Oh my God that is horrible. I imagine the storm is too bad to call the police?

  20. #2930
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    ^^^
    correct, there was a mandatory evacuation, that means there are no emergency services... of any kind

  21. #2931
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    Quote Originally Posted by hellospaceboy View Post
    ^^^
    correct, there was a mandatory evacuation, that means there are no emergency services... of any kind
    It wouldn't hurt to call and report it anyway so that the authorities know the presence of looting.

  22. #2932
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    Kim Kardashian and Kanye West are assholes of the millennia...

    Faked robbery, publicity stunt for her show...
    http://m.huffpost.com/us/entry/us_57...ushpmg00000003

  23. #2933
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    Quote Originally Posted by neorev View Post
    Kim Kardashian and Kanye West are assholes of the millennia...

    Faked robbery, publicity stunt for her show...
    http://m.huffpost.com/us/entry/us_57...ushpmg00000003
    I fucking knew it!

  24. #2934
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    Quote Originally Posted by thevoid99 View Post
    I fucking knew it!
    I think this should be in "Celebrity Headlines" but ... WHY in the hell would somebody DO this? It makes no logical sense, they already have TOO MUCH publicity, I just don't get it. Unless this isn't for real. Her sisters canceled all their book signings and tours due to "security issues" so evidently they didn't know about it, either? This looks to be just a rumor, not the real thing.
    Last edited by allegro; 10-08-2016 at 11:09 PM.

  25. #2935
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    Quote Originally Posted by allegro View Post
    It wouldn't hurt to call and report it anyway so that the authorities know the presence of looting.
    Luckily we didn't get looted after all! Someone tried to break into my father-in-law's house (it's next door to mine) but only got in to the back porch, not the actual house. Will have to replace the screen door, but that's not a big deal.

    No power for a few days, but I can't complain at all, we were very lucky. St Augustine got quite a lot of flooding, but no one died, so we'll be back to normal in a week or so. Yay!

  26. #2936
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    I don't know why this is making me laugh so hard, but it is. You clowns better keep your asses outa Chi-Town!!!

  27. #2937
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    Quote Originally Posted by hellospaceboy View Post
    Luckily we didn't get looted after all! Someone tried to break into my father-in-law's house (it's next door to mine) but only got in to the back porch, not the actual house. Will have to replace the screen door, but that's not a big deal.

    No power for a few days, but I can't complain at all, we were very lucky. St Augustine got quite a lot of flooding, but no one died, so we'll be back to normal in a week or so. Yay!
    Glad to hear it!!

  28. #2938
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    Quote Originally Posted by allegro View Post
    I think this should be in "Celebrity Headlines" but ... WHY in the hell would somebody DO this? It makes no logical sense, they already have TOO MUCH publicity, I just don't get it. Unless this isn't for real. Her sisters canceled all their book signings and tours due to "security issues" so evidently they didn't know about it, either? This looks to be just a rumor, not the real thing.
    Yeah I'm calling bullshit, that would be an incredibly risky thing to do given her visibility. They neither need the money nor the publicity, that wouldn't make a lick of sense.

  29. #2939
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    Quote Originally Posted by Khrz View Post
    Yeah I'm calling bullshit, that would be an incredibly risky thing to do given her visibility. They neither need the money nor the publicity, that wouldn't make a lick of sense.
    She has filed a lawsuit in Federal court against the website that put out that story.

    Edit, link:
    https://www.yahoo.com/celebrity/kim-...040021644.html
    Last edited by allegro; 10-13-2016 at 10:31 AM.

  30. #2940
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    Which in itself doesn't prove anything, she could simply be fairly confident that the website has fuck-all to back up their claim.

    But it would take a gigantic amount of stupid to try to fool the police and her insurance (who will certainly look closely into that matter given her visibility and the value of what was stolen) just for some publicity and insurance fraud, fame and money which, again, nobody needs that bad in this family.

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