Tuesday, September 20, 2016

Elizabeth Warren for CEO of Wells Fargo

Why is the US Senate holding hearings on Wells Fargo?  Business mistakes, failures, and so forth come and go.  Heaven knows, politicians make far, far more mistakes.  Elizabeth Warren knows little or nothing about banking from a first hand perspective.  Why is she weighing in on this?

Imagine that a football team was struggling.  Would we ask a banker what he thinks?

That politicians get involved in business, even when alleged criminality is involved, is absurd.  Politicians should butt out.  They have no useful experience or knowledge about business.  What actions they have taken -- Dodd-Frank comes to mind -- have served mainly to cripple the US economy.  Nothing good comes from politicians.

If there is criminality involved, let the appropriate authorities deal with it.  If bad business decisions have been made, let shareholders take action.

But, politicians should shut up. 

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