"...former CEO of Wells Fargo, John Stumpf... though, is small fry compared to the big fish of the Wells Fargo story, who turns out to be none other than Warren Buffett, the chairman of Berkshire Hathaway...
In Buffett’s Feb. 27, 2016, letter to shareholders, he valued Berkshire Hathaway’s position in Wells Fargo at $27.18 billion, representing a $14.45 billion profit over the $12.73 billion that Berkshire spent to accumulate the position.
In a Feb. 29, 2016, interview on CNBC, Buffett said Stumpf had done “a fabulous job” and that Buffett himself would “have a hunger strike in front of the directors” of Wells Fargo if they went along with the CEO’s idea of retiring in two years at age 65. “It’s a very well-run bank,” Buffett said on CNBC in February.
This was only the most recent in 25 years worth of examples of Buffett touting Wells Fargo. In his March 1991 Berkshire shareholder letter, Buffett described Wells Fargo as “superbly-managed.” In his March 7, 1995, shareholder letter, Buffett described Wells Fargo as “Berkshire Bank.”
In his Feb. 28, 2006, letter to Berkshire shareholders, Buffett reported, “we substantially increased our holdings in Wells Fargo, a company that Dick Kovacevich runs brilliantly.” It was in 2005 that, according to The New York Times, employees at Wells Fargo started making internal complaints about the sham accounts.
On Feb. 25, 2012, Buffett told Berkshire shareholders that he’d spent another $1 billion buying more of Wells Fargo, describing the holding as among a few “partnership interests in wonderful businesses.” On Feb. 28, 2014, Buffett told Berkshire shareholders that Berkshire had bought even more Wells Fargo stock, calling it a “wonderful company” and comparing it to the Hope diamond.
In Buffett’s letter to Berkshire shareholders in 2015, he reported that “four horses pulling a Wells Fargo stagecoach” would appear in Omaha, Neb., for the Berkshire Hathaway annual shareholder meeting. It was a physical symbol of how closely Buffett and Berkshire were publicly and proudly identified with the bank that is by far its largest public stock position.
Buffett didn’t buy Wells Fargo stock for only Berkshire Hathaway; he also bought some for his personal account — more than 2 million shares, or about $100 million worth, depending on the stock price, according to a recent disclosure. How Buffett handles the potential conflicts of owning shares personally and also for Berkshire is another matter that might be of interest to Sen. Warren. Buffett and Berkshire together were by far the bank’s largest shareholders, with a combined stake exceeding 10 percent.
...Buffett has been a reliable proponent of tax increases that would have no material effect on him but would make things more expensive for his competitors.
Until and unless you hear Obama, Clinton and Warren criticizing Buffett as much or more as they castigate Stumpf, recognize their bank-bashing for what it is: political posturing and selective outrage, rather than principled, rules-based oversight."
http://www.reviewjournal.com/opinion/clinton-pal-buffett-made-billions-amid-wells-fargo-fraud
.
.
There is no way Greensboro could be as crooked as it is without the help of a compromised press.
http://greensboroperformingarts.blogspot.com/2015/11/two-more-examples-of-what-news-and.html
What Warren Buffett's newspapers did to North Carolina's employees
http://greensboroperformingarts.blogspot.com/2016/03/what-warren-buffetts-newspapers-did-to.html
Wells Fargo "Envision" Retirement Plan fraud the News and Record refused to report to the detriment of its readers
http://greensboroperformingarts.blogspot.com/2016/07/wells-fargo-envision-retirement-plan.html
8:53 AM, still no Wells Fargo $185 million fine story on Warren Buffett's News and Record Business Page
http://greensboroperformingarts.blogspot.com/2016/09/853-am-still-no-wells-fargo-185-million.html
"Wells Fargo Whistleblower Claims Get New Scrutiny in Labor Review"
http://greensboroperformingarts.blogspot.com/2016/09/wells-fargo-whistleblower-claims-get.html
Amanda Lehmert and Joe Killian
http://greensboroperformingarts.blogspot.com/2016/08/amanda-lehmert-and-joe-killian.html
Waiting for the News and Record to report;
http://greensboroperformingarts.blogspot.com/2016/08/waiting-for-news-and-record-to-report.html
What is a news outlet that won't report the news?; "The News & Record is hiring an Assistant Managing Editor for the Carolina Design Center in Greensboro, N.C."
http://greensboroperformingarts.blogspot.com/2016/08/what-is-news-outlet-that-wont-report.html
D shill Joe Killian; "For Republicans in search of a party, try the Democrats"
http://greensboroperformingarts.blogspot.com/2016/07/d-shill-joe-killian-for-republicans-in.html
"See Jane Lose"; How Say Yes to Education's Mary Vigue, Greensboro Mayor Nancy Vaughan and Tony Wilkins betrayed the City's employees
http://greensboroperformingarts.blogspot.com/2016/07/see-jane-lose-how-say-yes-to-educations.html
John Robinson; "The war on the news media"
http://greensboroperformingarts.blogspot.com/2016/07/john-robinson-war-on-news-media.html
Doug Clark opposes local elites losing control over local elections
http://greensboroperformingarts.blogspot.com/2016/07/doug-clark-opposes-local-elites-losing.html
Washington Post allows Goldman Sachs' Hank Paulson to lie to readers
http://greensboroperformingarts.blogspot.com/2016/06/washington-post-allows-goldman-sachs.html
How Warren Buffet Makes Wells Fargo Money via Greensboro's News and Record and BH Media's Employees
http://greensboroperformingarts.blogspot.com/2015/03/how-warren-buffet-makes-wells-fargo.html
The Greensboro News and Record's 401k Plan Fees; Looks like Warren Buffet doesn't practice what he preaches
http://greensboroperformingarts.blogspot.com/2015/03/the-greensboro-news-and-records-401k.html
I flushed my stock broker career by teaching financial ethics, and all I got was peace of mind
http://greensboroperformingarts.blogspot.com/2016/01/i-flushed-my-stock-broker-career-by.html
How Warren Buffett's newspapers serve Warren Buffett instead of the truth, Hartzman edition
http://greensboroperformingarts.blogspot.com/2014/12/how-warren-buffetts-newspapers-serve.html
Dear departing News & Record reporter Amanda Lehmert
http://greensboroperformingarts.blogspot.com/2015/05/dear-departing-news-record-reporter.html
Thousands of investors in our community are relatively getting ripped off by being overcharged, and the News and Record didn't tell anyone after multiples of interviews and provided documentation.
http://greensboroperformingarts.blogspot.com/2016/01/i-flushed-my-stock-broker-career-by.html
Greensboro and oranges; Don and Nancy Vaughan, STPAC, Joe Killian, Allen Johnson, Walker Sanders, Jeff Gauger, Susan Ladd etc...
http://greensboroperformingarts.blogspot.com/2015/12/greensboro-and-oranges-don-and-nancy.html
In Buffett’s Feb. 27, 2016, letter to shareholders, he valued Berkshire Hathaway’s position in Wells Fargo at $27.18 billion, representing a $14.45 billion profit over the $12.73 billion that Berkshire spent to accumulate the position.
"from: George Hartzman
to; ajohnson@news-record.com,
Allen Johnson did nothing
Amanda Lehmert <amanda.lehmert@news-record.com>,
Amanda wanted a harmed client,
I provided one, and the News and Record killed the story
Jeff Gauger <Jeff.Gauger@news-record.com>,
Gauger did nothing as the Feds let Wells Fargo get away with it
Joe Killian <joe.killian@news-record.com>,
Joe Killian betrayed the City of Greensboro's employees
for the benefit of Warren Buffett
editor@yesweekly.com,
editor@carolinapeacemaker.com,
richard.barron@news-record.com,
Richard Barron is a useless business reporter
adunn@charlotteobserver.com,
Zack Matheny <zack.matheny@gmail.com>,
Zack, as a former broker who knew,
should be ashamed of himself for betraying thousands of local Wells Fargo customers
fmickens@wfmy.com,
dgclark@news-record.com,
Denise.Turner@greensboro-nc.gov,
Denise got a really nice job
date: Mon, Sep 24, 2012 at 1:42 PM
subject: I take this to mean the issue is under investigation.
George:
I have received this information you provided.
I will be ensure our assigned examiner also receives the information
to help with his investigation.
He may be in touch if he has questions.
Thanks
Jennifer Anne Luginbill
Luginbill should be held accountable
for betraying Wells Fargo's clients who think they are on their way to achieving bogus goals
Associate Director
Kansas City District Office
FINRA
120 W. 12th Street, Suite 800
Kansas Ciy, MO 64105"
In a Feb. 29, 2016, interview on CNBC, Buffett said Stumpf had done “a fabulous job” and that Buffett himself would “have a hunger strike in front of the directors” of Wells Fargo if they went along with the CEO’s idea of retiring in two years at age 65. “It’s a very well-run bank,” Buffett said on CNBC in February.
This was only the most recent in 25 years worth of examples of Buffett touting Wells Fargo. In his March 1991 Berkshire shareholder letter, Buffett described Wells Fargo as “superbly-managed.” In his March 7, 1995, shareholder letter, Buffett described Wells Fargo as “Berkshire Bank.”
In his Feb. 28, 2006, letter to Berkshire shareholders, Buffett reported, “we substantially increased our holdings in Wells Fargo, a company that Dick Kovacevich runs brilliantly.” It was in 2005 that, according to The New York Times, employees at Wells Fargo started making internal complaints about the sham accounts.
On Feb. 25, 2012, Buffett told Berkshire shareholders that he’d spent another $1 billion buying more of Wells Fargo, describing the holding as among a few “partnership interests in wonderful businesses.” On Feb. 28, 2014, Buffett told Berkshire shareholders that Berkshire had bought even more Wells Fargo stock, calling it a “wonderful company” and comparing it to the Hope diamond.
In Buffett’s letter to Berkshire shareholders in 2015, he reported that “four horses pulling a Wells Fargo stagecoach” would appear in Omaha, Neb., for the Berkshire Hathaway annual shareholder meeting. It was a physical symbol of how closely Buffett and Berkshire were publicly and proudly identified with the bank that is by far its largest public stock position.
Buffett didn’t buy Wells Fargo stock for only Berkshire Hathaway; he also bought some for his personal account — more than 2 million shares, or about $100 million worth, depending on the stock price, according to a recent disclosure. How Buffett handles the potential conflicts of owning shares personally and also for Berkshire is another matter that might be of interest to Sen. Warren. Buffett and Berkshire together were by far the bank’s largest shareholders, with a combined stake exceeding 10 percent.
...Buffett has been a reliable proponent of tax increases that would have no material effect on him but would make things more expensive for his competitors.
Until and unless you hear Obama, Clinton and Warren criticizing Buffett as much or more as they castigate Stumpf, recognize their bank-bashing for what it is: political posturing and selective outrage, rather than principled, rules-based oversight."
http://www.reviewjournal.com/opinion/clinton-pal-buffett-made-billions-amid-wells-fargo-fraud
.
.
There is no way Greensboro could be as crooked as it is without the help of a compromised press.
http://greensboroperformingarts.blogspot.com/2015/11/two-more-examples-of-what-news-and.html
What Warren Buffett's newspapers did to North Carolina's employees
http://greensboroperformingarts.blogspot.com/2016/03/what-warren-buffetts-newspapers-did-to.html
Wells Fargo "Envision" Retirement Plan fraud the News and Record refused to report to the detriment of its readers
http://greensboroperformingarts.blogspot.com/2016/07/wells-fargo-envision-retirement-plan.html
8:53 AM, still no Wells Fargo $185 million fine story on Warren Buffett's News and Record Business Page
http://greensboroperformingarts.blogspot.com/2016/09/853-am-still-no-wells-fargo-185-million.html
"Wells Fargo Whistleblower Claims Get New Scrutiny in Labor Review"
http://greensboroperformingarts.blogspot.com/2016/09/wells-fargo-whistleblower-claims-get.html
Amanda Lehmert and Joe Killian
http://greensboroperformingarts.blogspot.com/2016/08/amanda-lehmert-and-joe-killian.html
Waiting for the News and Record to report;
http://greensboroperformingarts.blogspot.com/2016/08/waiting-for-news-and-record-to-report.html
What is a news outlet that won't report the news?; "The News & Record is hiring an Assistant Managing Editor for the Carolina Design Center in Greensboro, N.C."
http://greensboroperformingarts.blogspot.com/2016/08/what-is-news-outlet-that-wont-report.html
D shill Joe Killian; "For Republicans in search of a party, try the Democrats"
http://greensboroperformingarts.blogspot.com/2016/07/d-shill-joe-killian-for-republicans-in.html
"See Jane Lose"; How Say Yes to Education's Mary Vigue, Greensboro Mayor Nancy Vaughan and Tony Wilkins betrayed the City's employees
http://greensboroperformingarts.blogspot.com/2016/07/see-jane-lose-how-say-yes-to-educations.html
John Robinson; "The war on the news media"
http://greensboroperformingarts.blogspot.com/2016/07/john-robinson-war-on-news-media.html
Doug Clark opposes local elites losing control over local elections
http://greensboroperformingarts.blogspot.com/2016/07/doug-clark-opposes-local-elites-losing.html
Washington Post allows Goldman Sachs' Hank Paulson to lie to readers
http://greensboroperformingarts.blogspot.com/2016/06/washington-post-allows-goldman-sachs.html
How Warren Buffet Makes Wells Fargo Money via Greensboro's News and Record and BH Media's Employees
http://greensboroperformingarts.blogspot.com/2015/03/how-warren-buffet-makes-wells-fargo.html
The Greensboro News and Record's 401k Plan Fees; Looks like Warren Buffet doesn't practice what he preaches
http://greensboroperformingarts.blogspot.com/2015/03/the-greensboro-news-and-records-401k.html
I flushed my stock broker career by teaching financial ethics, and all I got was peace of mind
http://greensboroperformingarts.blogspot.com/2016/01/i-flushed-my-stock-broker-career-by.html
How Warren Buffett's newspapers serve Warren Buffett instead of the truth, Hartzman edition
http://greensboroperformingarts.blogspot.com/2014/12/how-warren-buffetts-newspapers-serve.html
Dear departing News & Record reporter Amanda Lehmert
http://greensboroperformingarts.blogspot.com/2015/05/dear-departing-news-record-reporter.html
Thousands of investors in our community are relatively getting ripped off by being overcharged, and the News and Record didn't tell anyone after multiples of interviews and provided documentation.
http://greensboroperformingarts.blogspot.com/2016/01/i-flushed-my-stock-broker-career-by.html
Greensboro and oranges; Don and Nancy Vaughan, STPAC, Joe Killian, Allen Johnson, Walker Sanders, Jeff Gauger, Susan Ladd etc...
http://greensboroperformingarts.blogspot.com/2015/12/greensboro-and-oranges-don-and-nancy.html
