http://www.nytimes.com/2016/09/27/opinion/seeking-accountability-for-wells-fargo-sham-accounts.html 2016-09-26 20:49:13 Seeking Accountability for Wells Fargo Sham Accounts Readers are shocked by the lack of bank oversight and cynical about how the discovery of the fraud will play out. === To the Editor: Your excellent Sept. 23 editorial “ After the recent financial crisis, federal regulators were supposed to increase their surveillance and oversight. The opening of a huge number of bogus accounts since at least 2011 and continuing until recently — in spite of a 2013 Worse still is the failure of Wells Fargo’s outside auditors, KPMG, to notice the fraud. As a former chairman of the audit committee of a New York Stock Exchange company and the president of a company that rates corporate accounting practices, I am shocked at the lack of internal controls at Wells Fargo. VICTOR GERMACK New York To the Editor: Re “ The Senate Banking Committee will absolve him of all his sins while blathering about the efficiency of the free markets and attacking those annoying job-killing regulations. The Wells Fargo board of directors will congratulate him on his deft use of damage control. And in the trenches, the marketers will cook up the next sales scheme while the advertisers will play an endless loop of Deepwater Horizon-like spots extolling newfound social responsibility. Let’s not forget all those “ethics workshops” the human resources department will mandate. If it all sounds like a corporate “Groundhog Day,” it should. COLLIN G. MATTON Fairfield, Conn.