Wells Fargo Board Receives Epic Ass Kicking

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Wall Street is a brutal place:

Wells Fargo & Co.’s shareholders are expected to re-elect all of the bank’s directors—but at uncomfortably low vote totals—in a pitched contest over the board that resulted from last fall’s sales-practices scandal, according to people familiar with the matter.

….While the re-election of directors, if confirmed, will be a relief for the bank, the likelihood that at least a few board members will receive below 60% of votes cast is concerning….The collective low votes for long-serving directors sends a clear message to the bank of “dissatisfaction,” one of the people familiar with the matter said.

Tough but fair. After this trip to the woodshed you can be sure that sleazy practices are a thing of the past at Wells Fargo.

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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily bluster—Mother Jones' journalism is driven by one simple question: Will America move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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