Warren Buffett: Wells Fargo was slow to stop bad behavior but it's a good business

Warren Buffett: Wells Fargo was slow to stop bad behavior but it's a good business

6 years ago
Anonymous $CLwNLde341

https://www.cnbc.com/2018/05/07/buffett-wells-fargo-was-slow-to-stop-bad-behavior-but-its-a-good-business.html

Billionaire investor Warren Buffett told CNBC on Monday that Wells Fargo's was slow to stop bad behavior in its company but it's an overall good business.

"They made one mistake," Buffett said in a "Squawk Box" interview. "Incentives work. And they came up with improper incentives and they worked. And, so, they [incentivized] bad behavior instead of [incentivizing] good behavior. And that happens from time to time."