HAPPY ONE YEAR BIRTHDAY, TRID (Oct. 3)!
DESPITE ALL, WE SURVIVED! (TRID – It is still “The Reason I Drink”)
Ding! The first Clinton/Trump round is done, the Veeps round is done (thank goodness) and all are now recorded forever into the annals of history, perhaps to the dismay of the two main boxers.
Not to worry, fortunate for them (unfortunate for us) they get a second and a third chance to make good and show the world their love.
Okay, as I get comfy and start writing this month’s blog, it looks like it has been particularly news-less these days.
I mean, there was the Brangelina and HillTrump boxing matches, but Hollywood stuff doesn’t count and it’s about 30 some days till V-day.
No terrorists attacks, no market crashes, and hopefully no weather related disasters, yet (Hello, Matthew).
What a relief. But, what REAL NEWS is there? So I clicked on CNN and it became a… CNN DAY.
Man, what fun! I know, some of you don’t like that bastion of liberal reporting, but since this is my blog…
WELLS FARGO – WHAT WERE THEY THINKING? Do they even work in the same world we do?
I am totally flabbergasted. Here we are doing our best to protect consumers’ PRIVACY, watching for FRAUD, careful to do everything BY THE BOOK and acting only with WRITTEN CONSENT, and then some 5300 people working in one of the biggest financial institutions decide they are above ethics and the law and can do whatever they want to screw up those same consumers?
What sort of corporate mentality are they immersed in that they think thought this was fine and dandy?
Last week I received an e-mail from Wells Fargo.
They were checking into one loan that we closed for them and said that the recording fees given to us by the County were overcharged by $20.00 from the actual fee stated on the document. Seriously?
Your consumer services arm faked over 2 million accounts and you are calling me about a $20 overcharge of a recording fee on one document?
ELIZABETH WARREN (D- MASS), MY NEW HERO.
I know that some people love her, and some people love to hate her (because she was the designer of the CFPB who, returned the favor and fined Wells $100 million), but there is no doubt that here is a person who really makes her point.
I love the title of this video “Elizabeth Warren’s epic takedown of Wells Fargo CEO”.
Watched it, loved it and it was a double punch “Wow”, you go girl!” moment.
IT’S SOCCER TIME.
After being kicked up and down and all around in lots of committees in Congress, CEO John Stumpf, who was paid millions year in and year out to manage Wells decides oops, he sorta has to make it up and will now work for free.
Oh, and the person who oversaw the division that did all that fraud, well, she is taking early retirement without bonus, severance or any sort of golden parachute. My heart just bleeds and I would play the violin if I knew how.
How much did they make in the years they were with Wells, hmmm?
I believe CRIMINAL investigations would be more apropos.
TOO BIG AND FAILED.
And now, Maxine Waters (D- CA), ranking member of the House Financial Services committee said she is going to use her clout in this all-important committee to break up Wells Fargo.
Another double punch “Wow” moment to another lady. Let’s see if partisanship gets in the way.
I hope that all other Lenders will take this whole Wells fiasco seriously and remember that there is NO TOO BIG TO FAIL now.
THE SCEPTER OF FRAUD. Much like the upcoming Blair Witch II, we sat through Blair Witch I scared to death, just as we sat through 2007 watching the economy crash into a rocky horror show (I think I may be getting my movies all screwed up).
Remember the rampant fraud of fake numbers on loan application and W-9 forms?
Remember the minimal downpayment/ high loan amount transactions which became unsustainable in the long run and precipitated the foreclosure crises?
Well, at the risk of sounding so doomsday-ish, the scepter of Blair Witch II may be in the horizon as we see an increase in these 3% – 5% loans.
My gut feeling is that we are going to be seeing some nasty ghosts rising from the (supposed) dead.
I am not the only doomsayer here; some of the industry is also a little worried that we are heading into that dark and scary woods again.
Will it take another Mr. Dodd and Mr. Frank Pony Act II in five years to save us and pull us out? Again? Just saying.
THE SCEPTER OF GREED: I am sure Wells is grateful for EpiPen, who is sort of diverting some of the Congressional indignation through their own record cringing story on the Hill.
A follow up to my big piece last month, EpiPen, that allergy medicine company, in their pursuant of happiness and greed, blatantly increased their medicine pricing by 600%.
They, too are on the hot seat and used as a soccer ball, and rightfully so. CEO Heather Bresch, whose Dad is a Senator, by the way (Joe Manchin, D- W.VA) has flat out stated that her company does not plan to lower their pricing and she ain’t giving back a dime of her hard earned money.
After all, why should they. They are proud that they are a monopoly and why fiddle with a good thing. That’s First World capitalism for you. Perhaps CFPB will be sicced on them, too.
And here are glimpses of some wild and weird news that caught my woolly brain:
SHAKE AND BAKE: Yep. Here’s the dirt: over 100 ̊ weather, humid then dry, grumpy dogs and then BANG! Earthquake! We have been put on notice by Lucy Jones, guys.
ALIENS: We are all looking for aliens, yessiree. The U.S. is looking for illegal ones, the Chinese are looking for extraterrestrial Aliens and FAST! Yes, really. Would I kid you about that. I am Chinese you know. We have our priorities straight.
BREXIT WOES – One of the more immediate effects of Brexit, and in a particularly important part of daily life, is the cost of The iPhone. The pound has been devalued so Apple has re-valued to take into account the devalue and so therefore increase its value. Okay, did you get that? Test at the end.
YAHOO! Yeah, so umm, changed my Yahoo! account password. Yep. Not taking any chances that someone will steal all my spam e-mail regarding Viagra. Nope.
Aaaand, if you are one of those who will stay up to 1:00 am. to watch YouTube videos, do yourself a favor and watch these …. no, not about cats, dogs or hamsters but other data breaching animals otherwise known as Hackers, Stalkers and Scammers.
Comes in handy right about now with the Yahoo data breach. By the way, this is from the Federal Trade Commission.
They have entered the 21st century and are now joined with us in the trials and tribulations of living in an Internet world.
Here is an article on Stalker Apps and a few more videos about Scammers. This is definitely NOT my daddy’s FTC anymore!
WALKING FOR HOPE!
In memory of two friends I lost to cancer this year I am pushing out my fundraising efforts for the City of HOPE.
My “ask” is not much; $30.00 to join as a REAL walker or as VIRTUAL walker.
The REAL Walk, should you care to participate, is on Sunday, November 6. Or you can bypass the walking bit and just click “Donate” and choose any amount you are comfortable with.
Help us help those who are fighting for their lives and those looking for a cure. I want to give them HOPE because every loss takes a piece of my heart.
Here is my Team Viva! for Hope link.
The difference starts with each of us right now.
And on a more uplifting note, one more marriage quote:
“Happy Wife, Happy Life”
̴ Dr. Jerome C. Tu ̴
(Wise, wise. And to think that this is what a degree from MIT and Stanford will get you)