Bailed-out Wells Fargo plans Vegas casino junkets
February 3rd, 2009 . by TexasFredBailed-out Wells Fargo plans Vegas casino junkets
WASHINGTON (AP) - Wells Fargo & Co., which received $25 billion in taxpayer bailout money, is planning a series of corporate junkets to Las Vegas casinos this month.
Wells Fargo, once among the nation’s top writers of subprime mortgages, has booked 12 nights at the Wynn Las Vegas and its sister hotel, the Encore Las Vegas beginning Friday, said Wynn spokeswoman Michelle Loosbrock. The hotels will host the annual conference for company’s top mortgage officers.
The conference is a Wells Fargo tradition. Previous years have included all-expense-paid helicopter rides, wine tasting, horseback riding in Puerto Rico and a private Jimmy Buffett concert in the Bahamas for more than 1,000 employees and guests.
“I was amazed with just how lavish it was,” said Debra Rickard, a former Wells Fargo mortgage employee from Colorado who attended the events regularly until she left the company in 2004. “We stayed in top hotels, the entertainment was just unbelievable, and there were awards—you got plaques or trophies.”
While the nation’s recession has led other banks, such as Bank of America, to cancel employee recognition outings, Wells Fargo has not.
Full Story Here:
Bailed-out Wells Fargo plans Vegas casino junkets
Of course Wells Fargo isn’t cancelling anything, they are NOT spending their money, they are spending OUR money, TAX PAYER money! I don’t have one penny of ‘personal‘ money in a Wells Fargo bank, maybe it’s none of MY business how they run their business, but I am of the opinion that anyone that DOES have money in a Wells Fargo bank should immediately withdraw ALL of their funds, checking, savings, whatever they may have.
Is that a radical opinion from me?? Maybe. Is it a call to commence a RUN on Wells Fargo?? Possibly. It is MY opinion, and if others share that opinion, and if others seek to hold Wells Fargo’s feet to the fire, this would be one hell of a great way to get it done.
These guys have taken $25 billion in taxpayer bailout money, isn’t a junket to Vegas as unscrupulous an act on their part as was the purchase of a multi-million dollar corporate jet by Citi recently?? Citi having been a just bailed out business concern?
NEW YORK, Jan 26 (Reuters) - Citigroup Inc (C.N), which has received $45 billion of capital from the U.S. government, is going through with plans to buy a $50 million jet but a U.S. senator called the deal absurd and wants the Obama administration to block it.
Story Here:
Citi going through with $50 mln plane order
Stop these ridiculous bailouts and stimulus packages to companies that only turn around and squander even MORE money, money that is NOT their own. There has got to be some serious accountability is all fiscal affairs of the USA, and if the government of this USA isn’t held accountable, if they insist on placing known TAX CHEATS in positions of power, they are NOT exercising ANY responsibility, fiscal or otherwise. The only thing our government is doing at this point in time is throwing MORE of OUR good money after the bad that has already been squandered, misspent, mismanaged and stolen.
If you are a Citi or Wells Fargo customer, let your conscience be your guide. I hope you make the RIGHT choice!
And like good little Dimecraps, the canceled the trip once they had been exposed.
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