Most people have seen depictions of Lady Justice, the blindfolded personification of the legal system. She holds a balance scale in one hand and a sword in the other. The depiction is intended to show that the legal system is blind to wealth, race, fame, identity, status and power, that the evidence will be weighed in an impartial manner and that punishment will be meted out to the guilty. Lady Justice is an allegorical personification that dates to ancient times and spans many cultures. A representation of an ideal legal system, Americans have particularly embraced the personification. However, it appears that the American judicial system is far from ideal, considering the recent indictments and judgments against payday lenders and the apparent "pass" being given to the criminals at Wells Fargo.
Wells Fargo Criminals Will Apparently Walk Free; Payday Lenders Indicted
By now, many people have heard about the scandal involving Wells Fargo. Bank employees have been accused of "widespread illegal practices," such as opening millions of accounts …show more content…
Ochs points out in an option piece appearing at NYTimes.com, in the banking industry, senior executives are seldom the ones who suffer the repercussions of a scandal. However, when thousands of employees and 2 million fraudulent accounts are involved, it tends to point to a systemic problem, which is what upper management has the responsibility to address.
The bank has been ordered to pay fines amounting to approximately $185 million, but no senior executives have been fired as a result of the scandal, according to CNN. Elizabeth Warren has verbally lambasted John Stumpf, the CEO of Wells Fargo, and although he resigned his position on the Federal Reserve Advisory Council, he is currently still in command of the bank. Furthermore, although Warren accused Stumpf of "gutless leadership" and stated that he should be "criminally investigated," it is unlikely that any criminal charges will ever be filed against
Wells Fargo Criminals Will Apparently Walk Free; Payday Lenders Indicted
By now, many people have heard about the scandal involving Wells Fargo. Bank employees have been accused of "widespread illegal practices," such as opening millions of accounts …show more content…
Ochs points out in an option piece appearing at NYTimes.com, in the banking industry, senior executives are seldom the ones who suffer the repercussions of a scandal. However, when thousands of employees and 2 million fraudulent accounts are involved, it tends to point to a systemic problem, which is what upper management has the responsibility to address.
The bank has been ordered to pay fines amounting to approximately $185 million, but no senior executives have been fired as a result of the scandal, according to CNN. Elizabeth Warren has verbally lambasted John Stumpf, the CEO of Wells Fargo, and although he resigned his position on the Federal Reserve Advisory Council, he is currently still in command of the bank. Furthermore, although Warren accused Stumpf of "gutless leadership" and stated that he should be "criminally investigated," it is unlikely that any criminal charges will ever be filed against