AOC Accuses Wells Fargo Of Caging Kids, Gets Owned

AOC Accuses Wells Fargo Of Caging Kids, Gets Owned

In another of the bizarre outbursts that are quickly becoming her political trademark, socialist motormouth Alexandria Ocasio-Cortez (D-NY) accused a major financial services company of “financing the caging of children” — and got spectacularly demolished by the firm’s CEO. It’s just one more example of how divorced the Democrat Left is becoming from reality.

Highlights

Financial services is a complicated industry, and there’s no doubt that even the biggest and most experienced players make mistakes sometimes. Wells Fargo is one of the world’s top five banks and offers a huge range of services globally — so it’s inevitable that sometimes things will go wrong. The company’s CEO was called before a House Financial Services Committee hearing on Tuesday to discuss the creation of fake accounts by rogue employees — but the hearing was derailed by a rookie Democrat congresswoman, who gave the CEO a chance to demonstrate that politicians are far from infallible too.

  • In 2016, Wells Fargo was fined $185 million after employees created over 1.5 million fake accounts to inflate their sales figures. Over 5,000 staff were sacked for taking part in the scandal.
  • On Tuesday, Wells Fargo CEO Tim Sloan was called before the House Financial Services Committee to explain why this had happened and how it could be prevented in the future. Possibly in a move to boost the newcomer’s profile, Ocasio-Cortez was invited to question Sloan.
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  • However, the session quickly descended into a farce as AOC swerved off topic and made a complete fool of herself, leveling wild accusations that Sloan demolished with ease.
  • The inexperienced socialist started off by asking “why was the bank involved in the caging of children and financing the caging of children to begin with?” A visibly bemused Sloan replied, “I don’t know how to answer that question because we weren’t.”
  • Instead of recognizing that she’d found the wrong tree to bark up, Ocasio-Cortez kept pushing, asking Sloan about the bank’s growing involvement in financing private prisons. Sloan pointed out to her that the bank had financed one private prison company for a while, but had, in fact, pulled out of the sector.
  • Finally realizing that she should find something else to talk about, she did — and managed to walk right into another trap. Reminding Sloan that Wells Fargo helped finance the Dakota Access Pipeline, she asked him why, if there was a leak from it, the bank shouldn’t pay for the cleanup operation. “Because we don’t operate the pipeline,” replied Sloan. It was a remarkably simple answer to a remarkably stupid question.
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