Richard Kovacevich and the Board of Directors of Wells Fargo disregarded (actually, flat out rejected) numerous shareholder proposals since 2002, heeding the company to stop subprime and predatory lending. Wells Fargo began doubling its subprime mortgage lending every year since 2000, immediately after Kovacevich and his Norwest gang took over Wells Fargo! After seeing the effects of these securitized mortgage backed securities on the market, it is obvious to see the shareholders were absolutely right.

Just as Michael Milken was dubbed the "Junk Bond King", Predatorix dubs Richard Kovacevich the "Toxic Bond King"!