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Edition 12: Commerce & Design

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financial credibility of the bank. Systematically, the authors debunk the credibiltiy of Wells Fargo���s annual report. A substantial cause of their concern revolves around derivatives. In doing so they call into question the stability not only of the nation���s largest bank but also of the entire banking system. One way or another, no matter what direction the argument comes from, the combination of erroneous loans and derivatives is lethal. Egregious transactions driven by pure greed. The system is putrid. Even more so that it still continues. The preponderance of banking and other financial practitioners advocating that the manipulation of erroneous financial instruments, in and of themselves, is a viable means to create wealth and prosperity has been decisively proven wrong, has decisively been proven a cruel fraud, a Ponzi scheme and fallacy. Substantially erroneous at best and, more often than not, fraudulent financial schemes involving loan packages and derivatives are in their intent to defraud the public malicious substitutes for invention that betters humankind and brings prosperity in jobs and profits for many. The result has been trillion dollar losses to the global economy, destruction of lives and poverty. Yet the meek must inherit a better world. HYLAND

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