… In a letter to [current Fiserv CEO Mike] Lyons, Sens. Ron Wyden, D-Ore., and Elizabeth Warren, D-Mass., the top Democrats on the Senate Finance and Banking committees, respectively, demanded information about the circumstances that led to Fiserv’s issuance of overly rosy revenue projections and the subsequent decision to reevaluate those goals.
“At a minimum, Mr. Bisignano appears to have failed to manage Fiserv effectively, and may have misled investors and the public about the company’s financial status, raising concerns about his ability to serve as a key Social Security and IRS official in the Trump administration,” they wrote. “Because of Mr. Bisignano’s mismanagement, many Fiserv investors, including retirees and members of the public, lost money—a fate Mr. Bisignano avoided. Bisignano’s required divestment of company stock helped him avoid about 300 million in losses cause by the stock’s price decline by over 50%.” …
10 comments:
Didn’t these same Senators confirm him a few months back?
Buyers remorse? 🤔
Why would an individual worth millions of dollars take up a thankless job of being Commissioner of Social Security. Was that question ever asked? Maybe, a deeper background check would have helped matters.
Now, it’s cleanup on aisle nine.
All Democrat Senator's voted against confirming Bisignano.
He is a incompetent executive
Count on Frankenstein to ignore their inquiry.
I asked that same question the day I found out he became commissioner! I ask that same question about a lot of the 1%. Why aren't they enjoying what they have? Elon Musk and Doge... same question. Why would he take that job?
The question was asked and answered with news articles about the tax loopholes Bisignano could exploit as a political appointee. Republicans just didn’t care because, well, they’re Republicans. In their world, if you’re not grifting, you’re not trying.
I'm no fan of Frank, but Wyden and Warren have no business investigating this. Far more important issues. This is why the country is stalled out.
To save millions in capital gains
They are on the senate finance and banking committee. It is literally their job to do this!
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