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Wells Fargo CEO whines Sen. Warren uses math ‘inappropriately’ after she blasts him for ‘screwing’ workers

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Massachusetts Sen. Elizabeth Warren (D) on Tuesday railed against Wells Fargo CEO Timothy Sloan — and the banking chief accused her of scaring people with mathematics.

Using figures from the bank’s own financial plan, Warren said at a Senate Banking Committee hearing that Wells Fargo planned to cut expenses by firing tens of thousands of employees.

“If you stick to your current plan, it is clear Wells Fargo employees making $30,000 or $40,000 a year are going to get screwed, just as they got screwed in the fake account scandals before,” she said. “It was executives who demanded new accounts be created at all costs, but it was 5,300 frontline employees who paid for that with their jobs.”

The senator said Wells Fargo was trying to save its reputation by blaming their problems on low-level employees.

“The only way we are ever going to stop these scandals is to hold executives personally accountable,” Warren added. “To fire the people who are responsible and when the break the law to march some of them out in handcuffs. Until we do that, these scandals are going to continue and working people are going to continue to take the brunt of it.”

But Sloan said he disagreed with almost everything Warren had said.

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“I think it is inappropriate to take various statements out of context and multiply numbers and then apply them to people, because then what you’re saying — you’re scaring people and that is inappropriate,” he remarked.

Sloan insisted that he was dedicated to protecting his employees. “We care about our team members,” he said.

Earlier in the hearing, Warren said Sloan should be fired over a banking scandal where millions of fraudulent accounts were created without customers’ knowledge.

“At best you were incompetent, at worst you were complicit,” Warren remarked. “Either way, you should be fired.”

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Honduran forces fire on students, 5 hurt: officials

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Honduran military police opened fire on protesting students at a university on Monday, wounding at least five, campus and hospital officials said.

Hundreds of students at the National Autonomous University of Honduras were demanding the resignation of the country's president, Juan Orlando Hernandez, after demonstrations against him intensified last week when three people were killed in protests.

"About 40 military police entered the university campus without authorization," Armando Sarmiento, director of institutional development at the Tegucigalpa-based university, told AFP.

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Health care price transparency: Fool’s gold, or real money in your pocket?

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The news is full of stories about monumental surprise hospital bills, sky-high drug prices and patients going bankrupt. The government’s approach to addressing this, via an executive order that President Trump signed June 24, 2019, is to make hospitals post their list prices online so that patients supposedly can comparison shop. But this is fool’s gold – information that doesn’t address the real question about why these prices are so high in the first place.

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2020 Election

Running while brown: How Texas’ Julián Castro is navigating white presidential politics

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By the time his plane touched down in California at the end of a whirlwind week, Julián Castro had set an early political benchmark in the crowded presidential race.

It was early April, and the former mayor and housing secretary had just released a sweeping immigration policy platform, garnering national headlines and widespread praise from immigration reform advocates who went as far as calling his proposals “exactly what we need in this moment.”

Castro was still struggling to break from the pack, but he was the first in the field with a detailed plan to tackle the one issue that could come to define the 2020 presidential campaign. Yet when he sat down for an interview on comedian Bill Maher’s television show, the host instead catalogued Castro’s proposal in terms that the white men also running for president would surely never face.

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