Wells Fargo Scandal Shows Next Bank Crisis Coming

``This time-honored rule also applies to banks. Last week, we learned that Wells Fargo, ostensibly the most trustworthy of the too-big-to-fail institutions, is not trustworthy at all... Under the Sarbanes-Oxley law, Wells Fargo CEO John Stumpf and CFO John Shrewsberry must personally certify that the bank has adequate financial and operational controls. It obviously does not. Their signatures on annual reports therefore constitute fraud, or at least willful ignorance. Will they suffer any loss?''