Wells Fargo Fires 5,300 Employees and Fined $185 Million – Episode 164

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Is this the first signs of banking collapse? In this episode Patrick Donohoe and Chad Hanson talk about the Wells Fargo fraud and how the banking injustice is affecting the American public.

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Show Notes

00:00 Introduction
00:51 Wells Fargo’s latest banking disaster
01:58 The ethics double standard of big banks and normal people
02:40 Wells Fargo agrees to pay $185 Million which is $10 per $100k
03:56 How the banking stimulus is affecting liquidity and consumer trust
06:09 Banking 101 and how banks are crumbling under pressure
08:42 Why people are saving and not spending
10:38 Looking back at pre stimulus rates
11:56 “Sandbagging” – How the American taxpayer gave the banks a 45% increase
17:21 What will happen to their share price?
20:52 Carrie Tolstedt, the leader in charge walks away with a $125 Million bonus
23:27 Banking injustice and how the public always suffers
24:18 Regardless of your investments you still have taxation that can change
27:31 Tax deferral is not your friend – it’s your enemy
28:59 The Wealth Perpetual Strategy – storing your wealth without traditional banking
31:12 The Mises Institute YouTube channel
31:49 Inside Job, The Big Short, Money for Nothing, Too Big To Fail are films worth watching

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