another wells fargo ceo steps down about damn time longtime critic elizabeth warren says

This week we look at the principle-agent problem and what when wrong at Wells Fargo. After another CEO Tim Sloan the CEO who was suppose to restore the bank’s reputation stepped down March 28, 2019 there are still huge questions. https://www.americanbanker.com/news/fed-wont-lift-wells-fargo-cap-until-deficiencies-are-fixed-powell

What about the incentive system resulted in massive creation of fake accounts by the retail operation and why did it only get worse from there? As you dig into this remember Froeb’s rule from Chapter 1″Avoid the temptation to think about the problem from the employee’s point of view…{and ask} how does the organization give employees enough information to make good decisions and the incentives to do so?” page 8

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