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A comment on Wells Fargo to pay $3.7B settling charges it wrongfully seized homes and cars. Parent comment

Re:Wells Fargo to pay $3.7B settling charges it wrongfully s... by twblalock on Tuesday December 20, 2022 @01:52PM (#34070464)
How exactly would you break up Wells Fargo into a subset of businesses that had a chance of surviving on their own?

This is especially bad for a bank. Customers would freak out and leave. I can't find a single historical example of a bank breakup that didn't result in the destruction of the entire business.

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Re:Wells Fargo to pay $3.7B settling charges it wrongfully s... by kodyo on Tuesday December 20, 2022 @02:27PM (#34071093)
Customers freaking out and leaving would be awesome.
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Re:Wells Fargo to pay $3.7B settling charges it wrongfully s... by twblalock on Tuesday December 20, 2022 @02:46PM (#34071419)
Destruction of jobs and services != justice.
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Re:Wells Fargo to pay $3.7B settling charges it wrongfully s... by roywiggins on Tuesday December 20, 2022 @03:49PM (#34072317)
It's not that they deserve to lose their jobs. There were probably lots of honest people working at Theranos! That's not a good reason to have kept Theranos around, though.

Like, asbestos miners losing their jobs was a necessary result of shutting down the asbestos industry. It's not that it's fair, but it's not a reason to keep mining asbestos. Obviously ideally Wells Fargo could be reformed somehow, but the "corporate death penalty"[0] exists for a reason!

[0] https://en.wikipedia.org/wiki/Judicial_dissolution

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Re:Wells Fargo to pay $3.7B settling charges it wrongfully s... by ProAm on Tuesday December 20, 2022 @04:55PM (#34073225)
> Destruction of jobs and services != justice.

But it does send a message to the broader industry. Sometimes a few rouge cancer cells can kill the entire host. And this is the second time around for them.

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Re:Wells Fargo to pay $3.7B settling charges it wrongfully s... by kodyo on Tuesday December 20, 2022 @05:07PM (#34073388)
The availability of jobs should be a symptom of good business, not an end goal that justifies the ongoing depravity of a business.
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