15 Feb 2017 Berkshire Hathaway's Charlie Munger thinks Wells Fargo's huge fake accounts scandal was a 'glitch' ( Portfolio )

"I don't think anything's fundamentally wrong in the long haul for Wells Fargo. They made a mistake," Munger said. "And it was an easy mistake to make. I don't regard setting incentives aggressively as a mistake. I think the mistake was, when the bad news came, they didn't recognize it directly."