Masters of the Universe category archive
One more time, pretty damn far.
There is no truth to the rumor that Wells-Fargo is led by a “Godfather of the Board.”
In the context of the Jeffrey Epstein case, Spocko describes the four types of “fixers” and discusses how their work manifests itself. Per Spocko, these are the four types:
- Thug fixers.
- Legal fixers.
- PR Fixers.
- Media fixers.
Follow the link for a detailed description of how each type manifests itself.
The Inky tells the tale of a long and twisted tour through the wilds of the Amazon(.com).
Ronald E. Riggio explains why the rich, the powerful, and the famous believe that they are above the law. (And if you don’t recognize that many of them do, you just aren’t paying attention.)
Peter Whoriskey explains the hedge fund buy-out con and how it stiffs honest working persons. A snippet:
“It was a long, slow decline,” said Amy Gerken, formerly an assistant office manager at one of the stores. Sun Capital Partners, the private-equity firm that owned Marsh, “didn’t really know how grocery stores work. We’d joke about them being on a yacht without even knowing what a UPC code is. But they didn’t treat employees right, and since the bankruptcy, everyone is out for their blood.”
The anger arises because although the sell-off allowed Sun Capital and its investors to recover their money and then some, the company entered bankruptcy leaving unpaid more than $80 million in debts to workers’ severance and pensions.
For Sun Capital, this process of buying companies, seeking profits and leaving pensions unpaid is a familiar one. Over the past 10 years, it has taken five companies into bankruptcy while leaving behind debts of about $280 million owed to employee pensions.
Thom and David Dayen discuss the career of Treasury secretary Mnuchin, aka “The Foreclosure King,” who Dayen describes as “the fox that is guarding the hen house.”
Apparently, pretty damned far.
I used to bank at Wells-Fargo, because they gobbled up the honest bank that gobbled up the honest bank where I had an account. I must admit that I put off changing banks too long, because doing so is an annoying and laborious task, but, really, one can only take so much.
The straw that broke this camel’s back was the story about Wells employees’ creating phony accounts to meet draconian sales quotas. I remember that, when I called up the outfit that handles my pension to change my direct deposit, the fellow on the other end of the call said, “We’ve been getting lots of calls from persons who have changed from Wells-Fargo.”
I filled him in on the news. He was
aghast somewhat taken aback at Wells’s conduct.
I notice that, in the Sunday New York Times, Wells has been running full-page ads about how they have changed.
Color me skeptical.