ech0

Wells Fargo is worth 163 billion. That $200 million fine is literally 0.12% of their Net worth.

In comparison

The average US salary is $59,428. £A parketing ticket on average is about $80

That parketing ticket is 0.13% of that Salary.

So this “fine” is in fact cheaper than a parking ticket.

Aug 9, 2023 at 5:54amWeb
Show threadfoggyAug 9, 2023
Sometimes I don’t feed the meter if I don’t think a meter maid will get to my car before the parking hours end. I just fuckin risk it.
Show threadgirlfreddyAug 9, 2023

Yup. The fines should be 10-20% of profits for the time period, per charge, depending on the severity.

That would got their gd attention.

Show threadeldaviAug 9, 2023

That would got their gd attention.

it always gets their attention and then they pay people to lobby our government to get a lowered; which also always happens.

Show threadIgnisnexAug 9, 2023
Never profits, always revenue. Profits can be gobbled up by some internal bonus or “future investment in a project”, thus making it $0. Revenue is all the money generated before allocations and expenses come out. Much harder to weasle out of.
Show threadFrodoAug 9, 2023
You can’t compare worth or income. A better comparison might be profits, which were $15B for past 12 months. So Wells Fargo’s penalty is 1.3% their “salary.” I get that they are an evil corporation, but accuracy matters.