Wells Fargo Board Receives Epic Ass Kicking

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Wall Street is a brutal place:

Wells Fargo & Co.’s shareholders are expected to re-elect all of the bank’s directors—but at uncomfortably low vote totals—in a pitched contest over the board that resulted from last fall’s sales-practices scandal, according to people familiar with the matter.

….While the re-election of directors, if confirmed, will be a relief for the bank, the likelihood that at least a few board members will receive below 60% of votes cast is concerning….The collective low votes for long-serving directors sends a clear message to the bank of “dissatisfaction,” one of the people familiar with the matter said.

Tough but fair. After this trip to the woodshed you can be sure that sleazy practices are a thing of the past at Wells Fargo.

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We've never been very good at being conservative.

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This is no time to come up short. It's time to fight like hell, as our namesake would tell us to do, for a democracy where minority rule cannot impose an extreme agenda, where facts matter, and where accountability has a chance at the polls and in the press. If you value our reporting and you can right now, please help us dig out of the $100,000 hole we're starting our new budgeting cycle in with an always-needed and always-appreciated donation today.

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