{ "media_type": "text", "post_content": "Stumpf must feel great about that clawback after having mismanaged employees and creating the culture he did", "post_id": "57ec9c6b7e65551300805627", "reply_count": 9, "vote_count": 3, "bowl_id": "564a5cdb94887803001dd07c", "bowl_name": "Accounting", "feed_type": "crowd" }
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Stumpf must feel great about that clawback after having mismanaged employees and creating the culture he did

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^im sure he's not hurting. The clawback is all stock related, not like they're taking money out of his account. He's still got more money than any of us will ever see in 10 lifetimes...

I was sad that hear about the unethical behavior at WF. Money leads to bad choices.

^I'd argue that bad people who are unethical lead to bad choices. There are plenty of wealthy people who make fine, ethical choices (Buffet, Gates, Zuckerberg, etc...). If money had a direct correlation with unethical behavior, then all of these people would be unethical as well. Sure often times people will make unethical choices in pursuit of money, but that is on the person, not the money itself.

You are entitled to your opinion for sure, that these people that you mention are ethical. I worry about the rapidly increasing inequality in the West, and so don't think a society is ethical when it lets a few of its citizens get so rich. So I agree with you it's the person too, but I do take your point that Zuckerburg etc acted ethically, that is, in what the accepted norms of society are. I also appreciate that Gates etc give a lot of their wealth away, which is commendable.?

You mention "In the West as if there's not even greater income inequality in the rest of the world. Unfortunately there's no real easy way to solve this inequality. It's simple really. Humans consume resources. There are a finite amount of resources. With more humans in the planet than any ever there will be greater inequalities (more people fighting for same resources). As the population grows the issue will further exacerbate, especially once Blue Collar labor is performed entirely by machines.

And you say "let's so few of its citizens get rich". Nobody let's people get rich. Rich people for the most part build their wealth through hard work and sacrifice. Also how would you "not let" people get rich? Would you put a cap on earnings? Force people to give their money to the state to be redistributed to society? That's called communism and it's proven to be a failure.

I understand the frustration, but it's much easier to complain about things than it is to provide solutions. So I'll ask you, what is the alternative that you propose?

Tone at the top is a real thing. I used to work for WF and am very familiar with the culture he portrays. He's a CEO of a bank and in business of profiting from moving money for crying out loud. The biggest mortgage lender in the nation. Should set a better example and hold themselves to a higher standard.

Thanks PWC OP! Wise word. Banks make lots of money anyway so why not make money in an ethical fashion?

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