Hartzman’s Whistleblower Filing, Part Two: Secret Fed Loans Gave Banks Undisclosed $13B

“Secret Fed Loans Gave Banks Undisclosed $13B

The Federal Reserve and the big banks fought for more than two years
to keep details of the largest bailout in U.S. history a secret.

...The Fed didn’t tell anyone which banks were in trouble so deep
they required a combined $1.2 trillion on Dec. 5, 2008, their single neediest day.

Bankers didn’t mention that they took tens of billions of dollars in emergency loans
at the same time they were assuring investors their firms were healthy.”

Bloomberg, Nov 28, 2011

"Federal and state law requires that Registered Investment Advisors

are held to a Fiduciary Standard.

This law requires that an advisor act solely in the best interest of the client,

even if that interest is in conflict with the advisor’s financial interest.

Investment Advisors must disclose any conflict, or potential conflict,

to the client prior to and throughout a business engagement."

“I believe Sarbanes–Oxley has been violated.

I believe Wells Fargo's Ethics Code has been violated.

I believe my client's best interests have been violated.

I believe I provided my clients inaccurate information.

I believe no one has been held accountable.

I believe a select few profited from information my clients lost money because of.

I believe many Wells Fargo Envision Plans
have been routinely manipulated to game compensation
by not including investment costs and accurate inflation assumptions.”

George Hartzman
to an unknown group at Wells Fargo

You do not become a ''dissident''

just because you decide one day to take up this most unusual career.

You are thrown into it by your personal sense of responsibility,

combined with a complex set of external circumstances.

You are cast out of the existing structures

and placed in a position of conflict with them.

It begins as an attempt to do your work well,

and ends with being branded an enemy of society.

Vaclav Havel

“Our commitment to helping you plan effectively, invest wisely,
and map a realistic course for your future years
is nowhere more evident than in our Envision planning process.”

Wells Fargo Advisors 2012 Overview

Being advocates for clients – putting their interests first and foremost

in every decision we make – is the right thing to do.

This is what we believe as a firm.

Danny Ludeman, President and CEO, 2012