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Warren Buffett sharpens criticism of ex-Wells CEO Stumpf

Billionaire investor Warren Buffett said this week that Wells Fargo made "a huge mistake" in the way it handled the phony-accounts scandal, and he laid the blame on former Wells CEO John Stumpf more squarely than he had in previous comments.

"A huge mistake was made at Wells," Buffett saidin an interview Monday with CNBC's Becky Quick. "If the top guy doesn't do anything about it, the people down below won't."

Buffett's Berkshire Hathaway owns slightly more than 10% of Wells' shares.

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