Thursday, December 1, 2011

North Carolina State University Students Mic-Check Wells Fargo CEO John Stumpf

North Carolina State University Students Mic-Check Wells Fargo CEO John Stumpf

Ian Pajer-Rogers


Yesterday at North Carolina State University, students organized a mic-check and protest of Wells Fargo CEO John Stumpf as the executive came to speak at the university. The mic-check interrupted Stumpf's speech for almost five minutes and the CEO also faced some tough questions from students in the crowd during a question and answer session after his speech.  Prior to Stumpf's introduction, students handed out this flier to the audience, and encouraged everyone to join in the mic check. 
The mic-check confronted Stumpf about Wells Fargo's predatory lending to low-income communities and students; it's investment in private prisons; it's foreclosure on millions of families, and more. Complete script of the mic-check is below.
After the mic-check was silenced by campus security, John Stumpf took some tough questions from students about Wells Fargo's tax dodging and the massive accumulation of wealth in the top 1%. Outside, the chants of the student mic-check continued. 
The action has already received media attention from The News & Observer and an Associated Press story was picked up by the publication Canadian Business. 
Here is the script that was used to mic check Wells Fargo CEO John Stumpf: 
Mic Check!Mic Check!John StumpfWe won't take your homebut we will take a minute of your time.Your leadership has led tothe death of the American Dream.Wells Fargo is guiltyof widespread predatory lendingAnd holds over 5.7 billion in student debt.Wells Fargo targets people of colorAnd the poor for high interest student loans,urging loan officers to misreport income and forge documents.Wells Fargo foreclosedOn hundreds of thousands of homes last year,Many of them illegally.Wells Fargo has been fined85 Million dollars for its crimes,You have issued no admissionOf guilt or apology.Wells Fargo took 25 billionIn taxpayer dollars,The larges bailout in bank history,Yet reaped 4.1 billion last yearWhile paying no federal income tax.You yourself made 19 million last yearMaking you the highest paid bank CEO in America.Furthermoreyou invested nearly 100 million dollarsIn racist for-profit prisonsWhile lobbying for harsher anti-immigrant legislation.You are what is wrong with the culture of Wall Street.A culture that values corporationsMore than rights of "people" with hearts and minds.A culture that buys politiciansAnd corrupts our democracy.A culture that exploits the dreamsOf working class and middle class Americans.For the benefit of the 1 percent.John StumpfHave you no shame?By members of Occupy Raleigh and Occupy NCSU.

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