Elizabeth Warren vs Wells Fargo - Pick a Side

Elizabeth Warren , who is running for president no less , has her horns locked with Wells Fargo , its board and its current CEO Timothy Sloan . She wants him gone To refresh your memory Sloan was the former CFO who in 2013 said he knew nothing of a sales culture at Wells . It was the cross-selling sales culture which was the headline fraud on customers . And yes, Stone was the CFO – you read it right .They promoted him to COO and then CEO . Yes, the man claiming to be fixing the bank was there in senior positions all the time She has been very consistent in her view and has attacked WFC from the beginning when their gross , lying and rip off ways were first exposed . Ways which led to the “ unprecedented” Federal Reserve Consent Order . Since then more contempt for customer actions have come to light I agree with her and actually believe that the bank should have been put out of business . A bank that is a provider to ordinary folks needs to treat them with respect or go out of business .I would have settled for the mass resignation of the board , an interim chair from the governance agencies and the firing of anyone with chief in their title . If you claimed to be a chief during this time you deserved to go . You were either dumbly unaware or devoid of moral backbone . So, Mr. Sloan appears on Cramer’s mad money last Friday . Cramer , who I adore, has always been an apologist for Wells Fargo , continued to lob if not softballs but no screaming fast balls or clever curve balls at the 31-year veteran of the company . He let him dodge questions on the handling of student debt where Wells Fargo continues to be the most expensive provider. I don’t know why Cramer has a soft spot for this company . In the face of gentle pitching Sloan did sound plausible but then if he could not do that then he would really be incompetent as well as part of the problem Senator Warren hammered back on Monday calling for Mr. Stone’s resignation . I agree with her . Wells Fargo you need to fire more of the people who got you here and flush out the whole board . A CEO who was CFO and COO during the fraud years is an inappropriate leader .Keeping him there is just tacky . How are the other banks to be encouraged if you are not punished or show genuine remorse and contrition ?