Wells Fargo

 

Wells Fargo Shareholders Meeting Audio 1

April 25, 2017

Bruce: “Steve, you know, I think this is an opportunity in which we can hear form the board of directors individually. My name is Bruce Marks and I’m a Shareholder and CEO of NACA. I think we should hear from the board of Directors, each one, about what they were doing during the practices that you were doing out there and opening up those accounts. Let’s hear from John Baker…” disruption.. “No, no, no. Let’s hear from each one individually out there, so that they can respond whether they were complicit or they’re incompetent out there. But we should hear, so John Baker will you please stand up…. NO, NO! We need to hear that! This is the one opportunity out there that we can do an interview of each one of the Board of Directors. … No, but we want to hear from each one. So anyone in the audience, don’t we want to hear from the board of directors? (people murmuring and agreeing) Let each one speak.”

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Wells Fargo Shareholders Meeting Audio 2

April 25, 2017

Speaker: “Can you wait until the proper time and we will respond to your questions?” Bruce: “But we don’t want you, Steve, to respond or Tim. We want the board of directors who have a fiduciary responsibility to tell us about what they knew. I mean, isn’t that a reasonable thing to ask for? SECURITY: “He’s answered your questions, now please have a seat and be quiet. Your out of order.” Bruce: “No. You’re saying we’re out of order, but in essence, Wells Fargo has been out of order for years. And your response is, ‘Well, we’re sorry.’”

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Wells Fargo Shareholders Meeting Audio 3

April 25, 2017

Speaker: “One of the reasons we engaged Shearman & Sterling to do their investigation is to identify, what the board knew, when the board knew it, and understand whether the board acted appropriately and various committees acted appropriately with the information they had. Shearman & Sterling just published a report of that investigation which really deals with the questions that you’re asking. Its on the Wells Fargo website. I would urge you to read that report, I think it responds to your questions.” Bruce: “But we have read that report, Steve. And we have read that report Tim. But what we want to hear is from the individual board of directors. Let’s give them a minute or two to stand up, to explain why they should be reappointed to the board, and to explain when they knew what was going on and what action they take? So it’s a reasonable request to say that because we don’t get the opportunity to meet with the board of directors. Let them speak! Why are we preventing them to speak. Supposedly they have all this expertise and knowledge. It’s an opportunity. Maybe they can convince us that they were doing the right thing out there. But its certainly an opportunity for them to do that. And they are right here. And we’re not pressed for time. We have all day!”

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Wells Fargo Shareholders Meeting Audio 4

April 25, 2017

Bruce: “The respect that has to happen is the board answers the questions. You want to be re-nominated, show the working people and low and moderate income people, and your stock holders the respect to explain what your responsibility is. Why you should be re-nominated? That is the respect. That’s the rules Tim. Let’s follow that piece. Because you didn’t follow the rules! And all your doing is apologizing.”

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