Warren: Something Is 'Badly Broken' at Wells Fargo

The transcript discusses the accountability of Wells Fargo's leadership amidst a massive fraud scandal. It questions whether the leadership was aware of the fraudulent activities and highlights the potential threat the bank poses to the economy. The role of Carrie Tolstedt, who led the consumer division, is scrutinized for her involvement in the fraud and the bonuses she received. The discussion also touches on the cultural issues within the bank, emphasizing the need for accountability and the call for clawbacks by investors and analysts.

Analyze the role of bonuses in the context of the fraudulent activities at Wells Fargo.

What are clawbacks, and why are they being discussed in relation to Wells Fargo?