Wells Fargo's Unreal Problem

Motley Fool Hidden Gems Investing

The Motley Fool

Business, Investing

4.3 • 3.1K Ratings

🗓️ 9 September 2016

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

Wells Fargo is fined for fake accounts. Apple cuts the wire. Dave & Buster's dips. And Restoration Hardware rises. Plus, influence expert Robert Cialdini shares some influential insights from his new book, Pre-Suasion: A Revolutionary Way to Influence and Persuade. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This episode of Monthly Fool Money is brought to you by Rocket Mortgage by Quicken Loans.
0:03.4	Rocket Mortgage brings the mortgage approval process into the 21st century with a fast,
0:08.2	easy and completely online process.
0:10.2	Check out Rocket Mortgage today at QuickenLones.com slash Fool.
0:14.2	Everybody needs money.
0:21.2	That's why they call it money.
0:30.2	From Fool Global Headquarters, this is Monthly Fool Money.
0:33.2	It's the Monthly Fool Money Radio Show.
0:35.0	I'm Chris Hill, joining me in studio this week for Million Dollar Portfolio, Jason Moser,
0:39.2	from MDP and Supernova, Simon Erickson and from Monthly Fool One, Ron Gross.
0:43.3	I could see you as always, gentlemen.
0:45.3	We have got the latest headlines from Wall Street.
0:48.1	Best selling author, Robert Chaldeenie, is our guest and as always, we'll give you an
0:51.6	insight and look at the stocks on our radar.
0:54.0	But we begin this week with Warren Buffett's favorite bank, Wells Fargo, making headlines
1:00.2	because the company fired more than 5,000 employees for opening 2 million fake accounts
1:06.8	for existing customers.
1:08.4	Wells Fargo was also fined $185 million by federal regulators.
1:14.6	And Ron, maybe the most astonishing thing is that this has all been going on since 2011.
1:19.6	Five years.
1:20.6	Yeah.
1:21.6	You know, I'm not naive or perhaps I am, but this actually disappointed me.
	...

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