Part 1 described how Wells Fargo bank and the Atlanta public schools defrauded large numbers of customers and students. At the bank, over 5,000 employees were fired. The bank’s CEO admitted responsibility for the fraud before a U.S. Senate Banking Committee yet the fine levied by federal regulators ($185 million) wasn’t even a slap on the wrist, given the $80-plus billion in revenues that the bank took in last year. Nor did the bank admit in that agreement to pay the fine any responsibility for for their actions. The CEO is still CEO.
The Atlanta public schools cheating scandal found evidence of 178 principals and teachers in over 40 schools tampering with student scores on state tests. Eleven teachers were indicted, tried, and convicted (over 20 other educators took plea deals). Those 11 are in prison.
Two questions occurred to me as I read and pondered these instances of corruption…
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