Tavis Smiley Says He's Cutting Ties to Wells Fargo Over Subprime Scandal

Washington Independent:

Prominent author, commentator and PBS talk show host Tavis Smiley has announced that he's cutting all business ties to Wells Fargo & Co. The move comes in the wake of a TWI story last week about Wells Fargo "Wealth Building" seminars held in black neighborhoods starting in 2005, headlined by Smiley, which a recent lawsuit filed by the Illinois attorney general charged were nothing more than sales pitches for high-rate subprime loans.

Richard Prince reported Friday in his "Journal-isms" column that Smiley said he would sever all ties with Wells Fargo until charges that the company steered minorities into higher-rate loans are resolved.

Read the whole story: Washington Independent

Comments

[angryliberaluser]

If no justice is served the American People are going to get more restless, and the next time something happens.....there could be real UNREST! WE have to hold people accountable for their actions.

hat tip to: http://www.iamned.com

Ignorance = Negligence....... They knew what was going on the whole time, all the while padding their pockets. The U.S. crony-Capitalist justice system is a f**king joke. There must be some way we can outsource for justice against these criminals.

[JFaye]

Tavis Smiley is reportedly an intelligent man with a lot of credibility in his community. Who is so naive to believe for a moment, Mr. Smiley was not aware of the antics of Wells Fargo as he became a well-paid bridge for yet another opportunity to take advantage of unsuspecting, and all too trusting black people?

In retrospect, the underlying cause for his position against then Candidate Obama, was like much of Congress, more about corporate America paying him the money to become a diversion to progress.

Wonder what Tavis Smiley plans are to make amends ... and not charge those most affected a fee.

[Poboy]

Tavis, you got some 'splaining to do.

These are some serious allegations.

[nopilikia]

These banks have tainted so many, it's unreal.

[olddognewtrick]

...which means that he will stop taking money from WFB?

[RJII]

naw. it means he's gonna return the money from wfb.

[jozzie]

I'll believe he has a conscience when he gives up WalMart.

[LeeCalif]

Oh, he is connected to them, as well ?

So sad.

[SquealingPig]

Like the Sun Coming Up in the East . . Wells Fargo will most certianly Go Out of Business!

[Dailypolitics55]

Obama's reform is a joke. There will be no prosecutions, no jail time. Nothing. No change.
Like the investigations into the CIA, this will go NO WHERE, end in NO PROSECUTIONS and serve only as a way for them to WASTE TIME and RUN OUT THE CLOCK until the next round of elections before digging deeper holes.

hat tip to http://www.iamned.com

I am very frustrated by the lack of progress with regards to heath care, education, energy, and financial reform. Obama is acting like an empty suit.

[cyoohoos]

Tr0//. Member since September 2009.

[RJII]

you're an empty post. .

[MadAppraiser]

It is unlikely Tavis Smiley has ever interfaced with the Wells Fargo sub prime mortgage creators. Historically, Corporate America has always chosen a few individuals in the various communities to market American success stories. Clever marketing strategies are no longer concealing the worn, and breaking economic threads that bond America together!

[BuzzingAlong]

Oh my Gawd. Travis is giving up his status as a corporate annointed black leader? Heaven forbid, what does this mean to us poor black folks.

But not to worry. Wal-mart also annointed Travis as a black leader. At least he still has that going for him.

[Puddin]

And he has McDonald's.

[Trueheart]

There are a lot of people in this country who bought into financial lies.
Let me revise that. There are thousands and thousands and thousands of people in this country who bought into the mortgage-backed securities racket. There were so many of them that they thought it was stable. I hope Mr. Smiley tries to make up for taking part in this swindle.

[mom2sons]

Man, get outta here. Tavis knew what was going on and for all you defenders...Denial is a river in Egypt!

[Puddin]

Amen!!!!

[RJII]

preach it, mom2sons.

[1SpecialLady]

Well he just got caught.

[mrcontinental]

Smiley knew exactly what these crooks were doing and had no problem with it until the meltdown and subsequent investigation.

Just like Simmons and his debit card scam; a little "blackplotation"is all.

[copelli21]

U said it.....and Wells Fargo is as shady as they come in banking.

[time4change2009]

whoops...THIS