Warren: Wall Street Won't Change Until We Change It

The transcript discusses the controversy surrounding executive pay at Wells Fargo, focusing on the board's role in deciding whether to claw back bonuses from executives involved in fraudulent activities. The chairman of the board is questioned about his stance on influencing the board's decisions and his accountability in the matter. The conversation highlights the compliance officer's responsibility and the financial gains executives received from cross-selling practices. The discussion concludes with a call for change in Wall Street practices, emphasizing the need for accountability and reform.

What was the chairman's response when asked about supporting the clawback of Miss Tolstedt's pay?

• He refused to influence the board's decision.

• He fully supported it.

• He was undecided.

• He opposed it.

How did the chairman respond to questions about the person responsible for compliance?

• He supported their actions.

• He suggested a review.

• He had no recommendations.

• He promised to take action.

What was the chairman's stance on the alleged massive fraud at the bank?

• He acknowledged it as massive fraud.

• He disagreed with the characterization of massive fraud.

• He admitted to the fraud.

• He was unsure about the fraud.

What did the chairman do as the fraud allegations built up?

• He rejected all bonuses.

• He accepted performance bonuses.

• He resigned from his position.

• He reported the fraud.

What does the final section suggest about Wall Street's promises of change?

• Wall Street is irrelevant.

• Wall Street is partially changed.

• Wall Street remains unchanged.

• Wall Street has completely changed.