Warren to Stumpf: Have Your Resigned, Returned Money?

The transcript discusses accountability issues at Wells Fargo, focusing on the CEO's lack of resignation, failure to return earnings, and not firing senior executives. It highlights the bank's cross-selling practices, which were used to inflate stock prices, and the CEO's personal financial gains during the scandal.

What action did the CEO of Wells Fargo take to hold himself accountable for the scam?

• He did not take any of these actions.

• He returned a portion of his earnings.

• He fired senior executives.

• He resigned from his position.

Who was blamed for the scam at Wells Fargo according to the transcript?

• External consultants

• Senior executives

• Low-level employees

• The board of directors

What was the target number of accounts per customer set by Wells Fargo?

• Ten accounts

• Three accounts

• Five accounts

• Eight accounts

What was the primary reason for Wells Fargo's cross-selling strategy?

• To reduce operational costs

• To increase stock prices

• To meet customer needs

• To comply with regulations

How did the CEO of Wells Fargo benefit personally from the cross-selling strategy?

• He was promoted to a higher position.

• His stock holdings increased in value.

• He received a bonus for each new account.

• He gained a larger market share.

What was the average number of shares held by the CEO during the scam?

• 3.5 million shares

• 5.5 million shares

• 6.75 million shares

• 8 million shares

By how much did the share price increase during the scam period?

• $10

• $20

• $30

• $40