It just doesn't have anything to do with breaking up these Too Big To Fail Banksters, or prosecuting the people responsible for stealing money from their "customers."

Dear Wells Fargo Customers,

In America, we have faith that when we open up a checking account, we aren’t opening ourselves up to being scammed. Whether you use a local credit union or community bank or one of the big national chains, we take it for granted that those institutions are fulfilling this basic responsibility to their consumers.

That’s why I was deeply disturbed when, last week, we found out that Wells Fargo had engaged in widespread illegal practices over many years. The bank secretly opened up millions of accounts for customers without their consent – betraying their customers, misusing their personal information and leading many to be slapped with unjust fees and other charges. Today, Wells Fargo’s CEO will appear before Congress. He owes all of you a clear explanation as to how this happened under his watch.

There is simply no place for this kind of outrageous behavior in America.

Our economy depends on a strong and safe banking system to help keep it moving. But even after Americans spent years working hard to recover from the Great Recession, the culture of misconduct and recklessness that preceded that crisis too often persists.

I have a plan to address it.

First, we need to defend the Consumer Financial Protection Bureau. The unfair and abusive practices at Wells Fargo remind us that we need tough watchdogs looking out for customers. The CFPB worked with local authorities and enforced the law – assessing its highest penalty ever, and bringing the bank’s illegal activity into the national spotlight.

Donald Trump, the Republican Party, and Wall Street lobbyists are desperate to dismantle this effective agency, which is dedicated solely to protecting consumers from unfair and deceptive practices. I won’t let them put the CFPB under their thumb. I’ll protect the CFPB and make sure it can continue its essential work on behalf of the American people.

Second, we need real consequences when firms on Wall Street break the law. This past week, we learned that one of the Wells Fargo executives that oversaw the division that ripped off its customers left the bank – not with a pink slip, but with a $125 million payout. It’s hard to imagine that top executives were unaware of a problem that involved thousands of the firm’s employees. After all, they imposed sales targets and compensation incentives in ways that led to this behavior. And it’s frustrating that a bank can simply pay a fine and keep doing business as usual – with massive compensation for the executives responsible. That compensation should be clawed back.

I’ve put forward an agenda to enhance accountability on Wall Street. Executives should be held individually accountable when rampant illegal activity happens on their watch. Their compensation should take a hit if their companies pay major fines. And they must face appropriate legal consequences if they break the law.

Third, we need to make sure that no financial institution is too big to manage. I’ll put additional safeguards in place to address the risks that the big banks continue to pose to our system. And if any bank can’t be managed effectively, it should be broken up.

I’ll appoint regulators who will stand with taxpayers and consumers, not with big banks and their friends in Congress. I’ll fight hard to make sure that Wall Street is working for Main Street – not the other way around.

We need to keep pushing to make the financial system safer and fairer. Let’s do it together.
Sincerely,

Hillary Clinton

You might have noticed the text I bolded above: "Wall Street lobbyists are desperate to dismantle this effective agency" i.e., the Consumer Financial Protection Bureau. Considering Hillary Clinton made millions from giving speeches to Wall Street Banks, it's absurd to believe Hillary Clinton will rein in these monstrous gangsters.

After Clinton left the State Department, Goldman Sachs paid her $225,000 per speech for the three speeches to the firm. Clinton also gave five other speeches to big banks, including Bank of America and JP Morgan. All three firms settled with the government for their roles in inciting the 2008 financial crisis.

What she should have said: Wells Fargo's CEO and Senior Executives should resign and be criminally investigated by the SEC and Department of Justice. But that might be hard for her to to say, considering she notably once said this:

[video:https://www.youtube.com/watch?v=X6LDr9DWqWo]

And her own fleecing of her campaign contributors isn't that much different (except for the scale of the fraud) than what Wells Fargo did:

“We get up to a hundred calls a day from Hillary’s low-income supporters complaining about multiple unauthorized charges,” a source, who asked to remain anonymous for fear of job security, from the Wells Fargo fraud department told the Observer. The source claims that the Clinton campaign has been pulling this stunt since Spring of this year. The Hillary for America campaign will overcharge small donors by repeatedly charging small amounts such as $20 to the bankcards of donors who made a one-time donation. However, the Clinton campaign strategically doesn’t overcharge these donors $100 or more because the bank would then be obligated to investigate the fraud.

“We don’t investigate fraudulent charges unless they are over $100,” the fraud specialist explained. “The Clinton campaign knows this, that’s why we don’t see any charges over the $100 amount, they’ll stop the charges just below $100. We’ll see her campaign overcharge donors by $20, $40 or $60 but never more than $100.”

Anyone else surprised to learn Hillary is calling out the very Bank that she used to defraud her own contributors?

But that aside, what has she actually promised to do about Big Bank fraud?

1. Defend the CFPB. Right, so she is promising not to eliminate the Consumer Financial Protection Bureau, an agency President Obama created. Whoop-de-doo. Thanks for not much.

2. Impose real consequences on senior executives when Wall Street firms break the law. By which she means going after excessive compensation Big Bank Execs earned when fraud is committed on their watch, and make them "face appropriate legal consequences if they break the law." You know, like (a) all the money that Wall Street CEO's had to give back after they crashed the world's economy in 2008, and (b) all the criminal prosecutions of senior execs of TBTF banks that followed. Oh, excuse me, that never happened under Obama. It won't happen under a Clinton presidency either. Because criminal prosecution isn't an "appropriate legal consequence" for the senior executives of Big Banks that were among Obama's largest industry supporters, and are easily Hillary Clinton's biggest industry supporters. as well.

So what does Hillary's letter really say? It's just word salad filled with empty lies and misleading, ambiguous promises to make it appear she cares about regulating Wall Street. And she wonders why nobody trusts her.