Daily Archives: October 10, 2016

Former Employees Detail Wells Fargo’s “Boiler Room” Operation

Young salespeople were expected to meet goals by any means necessary.

On Friday’s episode of NPR’s Planet Money, formerWells Fargo employees offered details of young salespeople being subjected to intense pressure to sign customers up for multiple accounts, ultimately leading them to engage in fraud. The report also undermines CEO John Stumpf’s claims, including those made before congressional committees, that leadership was unaware of that fraud.

A former salesperson identified only as “Ashley” recounts some familiar parts of the story, including the bank’s steep sales goals. For much of her tenure, salespeople were expected to create eight new accounts per day—though sometimes the quota was as high as 20.

When she didn’t meet her quotas, Ashley says she would be subjected to humiliating “coaching sessions” and warned that she would be fired if she didn’t do better. She describes vomiting at her desk from the stress. Another employee speaking to Planet Money describes the atmosphere as a “grindhouse.”

Read on.

Here Is Juanita Broaddrick’s Affidavit That Destroys Trump’s Attack On Hillary Clinton in Sunday’s Presidential Debate

Fact check!

Washington Post:

Editor’s Note: Following is the text of a Jan. 2, 1998, affidavit from the woman known as “Jane Doe No. 5.” The Paula Jones legal team in aMarch 28 filing reported an unsubstantiated hearsay claim that, 20 years ago, Clinton had invited Jane Doe No. 5 to a hotel room and forced her to have sex. This affidavit, in which the woman denies the claim, was released by the Clinton legal team in its March 30 filing (see thePost story).

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3. I met President Clinton more than twenty years ago through family friends. Our introduction was not arranged or facilitated, in any way, by the Arkansas State Police. I have never been an Arkansas state employee or a federal employee. I have never discussed with Mr. Clinton the possibility of state or federal employment nor has he offered me any such position. I have had no further relations with him for the past (15) years.

4. During the 1992 Presidential campaign there were unfounded rumors and stories circulated that Mr. Clinton had made unwelcome sexual advances toward me in the late seventies. Newspaper and tabloid reporters hounded me and my family, seeking corroboration of these tales. I repeatedly denied the allegations and requested that my family’s privacy be respected. These allegations are untrue and I had hoped that they would no longer haunt me, or cause further disruption to my family.