For all his Bitcoin-bashing bluster, Berkshire Hathaway’s Warren Buffett is hardly a bastion of business virtue. He continues to defend BH investment Wells Fargo bank, despite almost $15 billion in penalty fines since 2000.
Wells Fargo got caught doing bad things. Lots and lots of very bad things. To meet quotas set by management, employees opened fake accounts, ordered unauthorized credit-cards, and forged client signatures — and this wasn’t just a few rogue staff members. Thousands of employees opened 3.5 million unnecessary accounts over a decade and a half. Management later admitted retaliation against employees who threatened to expose the scandal.