Taking Care Of Business
Here’s the start of good news …
The Consumer Financial Protection Bureau, the US government’s top consumer watchdog, hit Wells Fargo with a $1 billion fine on Friday for improperly charging thousands of customers for auto insurance they didn’t need — it’s the agency’s second-largest fine in its history …
… that quickly turns to stink worse than a goat on a crawfish diet because the Republican’s tax “reform” bill, but corporate tax rates from 35% to 21%.
According to a Goldman Sachs report from December, the tax cut will boost Wells Fargo’s profits by $3.7 billion this year.
We fine Wells Fargo a billion dollars so the Republicans wink and give them $3.7 billion for the trouble.
When you make ripping off consumers so damn profitable, we’re not gonna stop crooks.
Which may be the whole point.