stumpf: as i understand it, steve sanger is our lead director along with the other independent directors with hired counsel and they are doing their investigation. >> when do you expect they will finish their work? a part of: i am not that process but i know they will do a full, comprehensive review. >> i hope that is released to the public once the board has seen it and reviewed it and they can be posted on your website, because i think that is where it over new conference in the corporate government system, and i would encourage that to be done. when i was in the treasury department in 1990-1991, we had problem with government securities injure largest shareholder mr. buffett became the ceo in the midst of the crisis and was found guilty of manipulating the u.s. treasury market. have you spoke to mr. buffett about his advice on the matter you are facing? mr. stumpf: i have not talked to a lot of our investors. i have not had one conversation with warren buffett. >> because warren buffett in 1991, probably did the best job on behalf of corporate america. do you remember what he said at

. >> as for wells specifically, certainly, jim, we've already discussed already, steve sanger has a lot of power there. the man leading the independent committee of directors looking into and examining and having obviously an outside law firm examine exactly what went on. we questioned how long mr. stumpf conceivably can remain at the helm of the bank. but when you hear jamie dimon say we shouldn't be all tarred with the same brush, certainly you agree with it to a certain extent. i work with people in the banking industry all the time, any of them are my sources and i work with them. but when you go through the last few years, whether it's the libor scandal or fx scandals or money laundering at some of the banks that have been charged and back to the crisis itself and all of the different practices that took place, you do have to wonder when it's finally just going to stop. >> well, look, i think we spent a lot of time with deutsche bank and started realizing it could be a deal with the justice department any day. meantime the british banks, have you looked at those stocks? these are t

steve sanger. >> now nonexecutive chairman of the company. >> man of great integrity though you can read in "new york times" a piece that really just outed him as the man who said we're putting sugar in the cereal. why do i mention that? because we're a highly political environment. if he goes out elizabeth warren will bring that up, she'll bring that up because she watches the show. >> she's been vocal on twitter in the last 18 hours. >> holy cow, she's taken to twitter too, in a way that is kind of like, you know, you didn't have that before. use a press release no one pick it up. but david raised a good thing. i spent a lot of time over the last two weeks to find out whether she would come out and say i think john stumpf didn't know about it, it's now irrelevant. but the question is let's hear about the scam. because the scam, and i understand some people who have studied it have said that you opened an account on friday, the bank person put $25 of his own money in it, you closed the account monday, you took that $25 back, you got credit for opening the account. >> right. all salesin