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.
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 …