Wells Fargo fails living wills test; slapped with even more sanctions

justiceleague00's avatarJustice League

Housingwire:

Lately it seems that Wells Fargo can’t even go a few days without another round of bad news. And Tuesday was another one of those bad-news days.

In September, Wells Fargo’s reputation was shattered after the Office of the Comptroller of the Currency, the Consumer Financial Protection Bureau and the city and county of Los Angeles fined the bank $185 million because more than 5,000 of the bank’s former employees opened approximately 2 million fake accounts in order to get sales bonuses.

That fine led to explosive hearings before both houses of Congress, followed by theresignation of Wells Fargo CEO John Stumpf, who took a beating at both Congressional hearings.

The scandal is far from over as Wells Fargo is still fighting off regulatory and furtherCongressional inquiries over the fake accounts.

The bank also lost business from several states, and then the OCC slapped additional sanctions on…

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Wired Infographic: Cities on the edge of Disaster

These are important facts for the public to understand. These issues will just add to the chaos in the event of another economic collapse which has been in the forecast by leading economists for several years. If nothing else worthwhile has been learned by the recent election, the facts have surfaced that the main stream media is worthless and that responsible reporting is limited. You owe it to yourself and your family to research the facts and wake up so you can be prepared.

Unknown's avatarLivinglies's Weblog

http://www.wired.co.uk/gallery/infoporn-cities-on-the-edge

Using data on 2,100 cities, Robert Muggah has found which factors make an area more likely to become violent, unsafe and fragile

The 21st Century is inching ever closer towards chaos… and the time to get out of the big city is upon us.

America is on the brink of harsh economic realities, growing crises, desperate populations barely getting by, and more division than at any previous point in American history.  American cities could rapidly descend into dangerous and unruly territory, if the market bubbles implode via 2008 but worse.  If you remember the housing bubble, it was not a slow deceleration of the market but a rapid collapse.

People are living in bigger urban communities that are more blighted than ever before.  Urban centers are dangerous place to be in a collapse. Crime is rampant, order is shaken and many people become willing to take advantage of the…

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