tv You should be fired CSPAN October 4, 2017 6:20am-6:31am EDT
announcer: if you've missed any of that hearing, you could find it on our website. you can also watch mr. smith's testimony before the senate banking committee this morning live at 10:00 a.m. eastern. watch the hearings live c-span3, online at streaming on the free c-span radio app. also on capitol hill yesterday, wells fargo ceo. committee wasking checking in with the executive one year after the revelation that wells fargo employees fraudulently enrolled customers now let'ss --
fast-forward to 2016 two months before the scandal became public. you were chief officer of wells fargo and an interview asked you if you thought the bank had pushed sales goals and cross-selling too far. your answer was no. the fundamental strategy we have is not going to change -- that was july 26 in right before this breaks open. wells fargo's own investigation, you knew thousands of wells fargo employees had been fired for opening false accounts. you knew cross-selling goals were to blame. still you said the bank did not have a problem, right? that isnator, incorrect. could you read the entire quote? could we go through the entire presentation?
senator warren: your answer was no about pushing employees to far. "the fundamental strategy we have is not going to change." >> i was referring to the vision of our company. senator warren: division including your -- >> no. the reason i gave the presentation was to ground people in our company strategy. to help customers succeed financially. that is the context in which i made that statement. since i became ceo, i made fundamental changes to address the problems we discussed today. senator warren: you are talking accountat caused a fake strategy. this is about personal responsibility. wells fargo cheated millions of people for years.
the federal reserve should remove all of the board members who served during the fake account scam. you have been changes making at wells fargo for 30 years, you got rich. you try to cover it up. at best you work incompetent, at worst you work complicit. either way, you should be fired. wells fargo should start over and that will not happen until wells fargo rich people love you who led it into this crisis. >> may i respond to that? at yes. senator warren: i want an equal amount of time. to youror, i will get criticism of me in a moment. let's talk about the board first. i think the board has taken very important steps in terms of a thorough, independent investigation that has been made public. that is number one.
number two, the board has taken terms ofng action in executive accountability that is unfortunately some of the history.n american again, unfortunate. i do not believe your criticism is accurate. as it relates to me, again, think the reason i am the right companyo run this today, notwithstanding your criticism, is because i have been making change at this company for 30 years. i've made mistakes. i have not been perfect. but i think having that knowledge, that ability to make the change, the actions i've taken since i've become ceo in 11 months ago have made fundamental change at this company so i'm not afraid to make hard decisions when it is needed and a i have the support of 270,000 people. that is why i am the right person. senator warren: can i make a
short comment? i know we are over. and just really want to say, are you kidding? you have been there for 30 years and every one of my colleagues on the democratic and republican side who have spoken so far have talked about broken culture at wells fargo. have talked about the fact problems start with leadership. the people that were there leading wells fargo during the year-long scam, multiple scams as our chairman pointed out, those people should not be left in charge of this business and when you promote it , exactly what was wrong over and over, you went to the stock market and bragged about. you made money off it. when asked about it, you did not tell the truth and you try to cover it up. wells fargo is not going to change with you in charge.
♪ announcer: c-span's washington journal, live every day with news and policy issues that affect you. coming up this morning, the tax plan and hurricane recovery efforts. then, politico capitol hill bureau chief discusses congressional and control efforts. we sure to watch c-span's washington journal live at the :00 a.m. eastern this morning. discussion. >> the c-span buses traveling across the country on our 50 capitals tour. we recently stopped in an apple's maryland, asking people what is the most important issue in their state. >> i live in annapolis in maryland and i teach at the college where we are filming now. and issue a lot of us in maryland are concerned with is
our heritage, the heritage of slavery, the heritage of the civil war. , a statue ofatue the author of the dred scott decision in front of the state house. my question is, how do we have conversations about our past? here at st. john's, we read the dred scott decision, we read the decisions of lincoln, we try to have real discussions with one another about the different points of view. i care about this deeply. how can we as americans have real conversations where everyone is respected, but where are also some real understanding can be reached about issues which really matter for our heritage, history, and that is what i am hoping for.
not just fighting, not just arguing, not just power struggles but real communion conversations and building real community. >> i believe that a major issue in the state of maryland is incarceration. most importantly, when people come out of prison walls, i believe employment and housing and a support system is vital to staying out of prison and keeping recidivism down. i believe of the people who were formerly incarcerated get help theirand can families, that will keep them say.he state >> hello, i am the president of st. john's college. i think the issue that is most critical for us to address today is the issue of civil discourse. at st. john's college, we offer young people the opportunity to
sit around a table and discuss in our seminars the most important issues as to what it takes to be a human being. what it takes to have a flourishing society. i think if we have the opportunity to do that, to sit around the table in look each other in the eye and address each other's humanity and began our conversation with that, we will be a much stronger nation, a better society, and we will come much closer to finding solutions to the problems we face. i encourage everybody out there to think about that model of and toiscourse to address each other as human beings and ask the tough questions together. john's a junior at st. college. i am a supervisor at the mitchell art gallery.
responsibility of being a student supervisor is to teach people about art and get them involved in the workshops we offer at st. john's and the community of annapolis. if you understand art, history, and culture of the art you are looking at it is important because if you can understand history you can understand yourself and where you want to go in the future. states onto the c-span. landed innt trump puerto rico to survey the damage. he met with local officials. here is a look. [indiscernible conversation]