The Fedcontinues to maintain that Wells Fargo has not done enough to rein in the incentive failures that revealed the frailty of its corporate governance. We have seen that several of the largest conglomerates in the United States have decided that it is time to divide their agglomerated groups into smaller units for focus and function. Johnson & Johnson will separate its consumer products division and its pharmaceutical division.GE will divide into three units:aviation,energy, and healthcare.Is it time for Wells Fargo to separate its consumer banking business from its other enterprises?

Address the following in your discussion post:

• What is the principal-agent problem?
• What is the role of corporate governance?
• How is corporate culture different than governance?
• Can incentive systems align culture with governance?