WATCH: Ocasio-Cortez is trying to convince the CEO of Grill Wells Fargo. He destroys it.



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Socialist Representative Alexandria Ocasio-Cortez (D-NY) attempted to convince Wells Fargo's CEO, Timothy Sloan, at a House Financial Services Committee hearing Tuesday, and ended up being embarrassed.

The hearing, chaired by Democrat President Maxine Waters, was titled "Holding Megabanks Accountable: Examining Wells Fargo's Behavior in Consumer Abuse".

The Los Angeles Times reported: "Sloan was the first chief of the megabank that Waters, critic critic of Wells Fargo, has summoned to the House Financial Services Committee since taking office in the wake of the mid-term elections. mandate that gave the Democrats control of the house. "

Ocasio-Cortez used his time at the hearing to advance his political agenda against the Immigration and Customs Enforcement (ICE) and against the fossil fuel sector.

"Why has the bank been involved in caging children and funding for caging children?" Ocasio-Cortez asked.

"I do not know how to answer that question because we were not," Sloan replied.

"Uh, so in finan–, you've been funding, involved in debt financing in CoreCivic and the GEO group, is not it?" Ocasio-Cortez replied.

"For a while, we have been involved in financing one of the companies, we are no longer," said Sloan. "I am not aware of the specific statement you make, we did not participate in it."

WATCH:

It only got worse from there.

"Should Wells Fargo be held responsible for the damage caused by climate change because of fossil fuel financing and these projects?" Ocasio-Cortez asked.

"I do not know how you calculated that, Congresswoman," Sloan replied.

"Suppose spills occur or we have to reinvest in the construction of pollution protection infrastructure, erosion of infrastructure or clean-up work, forest fires, etc.," said Ocasio. -Cortez.

"Related to this pipeline?" Replied Sloan. "I'm not aware that what you described is related to this pipeline."

Increasingly frustrated, Ocasio-Cortez discussed Sloan as he finished answering his question, asking, "How about, uh, cleaning the Dakota Access pipeline leaks?"

"I'm not aware of the leaks associated with the Dakota Access pipeline that you describe," Sloan said.

"So, hypothetically, if there was a leak from the Dakota Access Pipeline, why should not Wells Fargo pay for the cleanup, since it financed the construction of the pipeline itself?"

"Because we do not operate the pipeline, we provide financing to the company that operates it," Sloan replied.

WATCH:

"Regulators have fined Wells Fargo $ 1 billion for forcing auto loan customers to take out unnecessary insurance policies and charge unjustified fees to some mortgage borrowers," the report said. Times. "And in a securities deposit this month, Wells Fargo said that he could be forced to pay up to $ 2.7 billion more than what had been set aside at the end December to resolve legal cases, including ongoing investigations by the Department of Justice and the Commission and Exchange. "

Sloan, who has been with Wells Fargo for 31 years, became the bank's CEO in October 2016 after John Stumpf's dismissal after two disastrous congressional hearings.

Complete segment:

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