|“Your definition of accountability is to push this on your low-level employees. This is gutless leadership.”|
|– Senator Elizabeth Warren NYT Dealbook
She was castigating the CEO and chairman of Wells Fargo at a recent hearing on the bank’s abuse of customers’ trust. It was all the fault of a few underperforming junior staff and managers the CEO claimed.
Doesn’t the CEO’s comments ring a bell? Think of the SGH tragedy where no one senior was publicly held accountable, and think of the repeated SMRT problems (Example). “Your definition of accountability is to push this on your low-level employees. This is gutless leadership,” Describes PAP’s accountability post Harry. Hmm maybe the good doctor should post on this instead of on her house?
The senator has also called for the bank to be “criminally investigated” after regulators found that thousands of Wells employees secretly created as many as 2m accounts and credit cards. In the case of the SGH tragedy, the police opened a file, and then closed it saying there was no evidence of any crime having been committed.