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In need of perspective...

Recently, Wells Fargo got slapped with a $1 billion fine, an amount that may sounds gigantic to most, but unfortunately, most media outlets failed to place that sum into perspective, which in the end makes it meaningless.

Okay, with the exception perhaps of NPR that mentioned that the bank in question had generated more than $20 billion in profits, we're all left in the dark.

Now, if you must know a few facts for 2017, Wells Fargo boasted $2 trillion in assets, $95 billion in revenue and $21 billion in profits.

To put this further into terms we all can better grasp, imagine that you are making $95,000 a year in income and manage to save $21,000 of it, a fine of $1,000 won't put you in the poorhouse!


This post first appeared on Go 11, please read the originial post: here

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In need of perspective...

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