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Bailed-out Wells Fargo plans Vegas casino junkets

February 3rd, 2009 . by TexasFred

Bailed-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!

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6 Responses to “Bailed-out Wells Fargo plans Vegas casino junkets”

  1. comment number 1 by: WashingtonArmory.com

    Invest in rifles handgus and ammunition (Lots of it) trust me it will increase in value rapidly. also keep you eyes on my future junket to http://www.milliongunownermarch.com/ since it will probably be my only trip in the coming years. I Hope to see Y’all there!

  2. comment number 2 by: Kate

    Ah, but Fred…that IS your money they are spending in Vegas at that overpriced resort. Mine too. And everyone else who pays taxes. I’m trying to think of an appropriate response to their irresponsible actions, but it would require too many four lettered words.

    Ok, politeness over. Those low like scum sucking son of a bitches had BETTER cancel that stupid trip, or have every single person going pay their own way. If they can’t afford it, then they don’t get to go! What a crock of utter bullshit! Jeeeez! What a waste of perfectly good oxygen! I am so freakin’ sick of this crap sandwich we’ve been fed! Fed? No, shoved down our throats! And they want more…and more….and more. It will never end until someone shoves something down THEIR throats! And I ain’t takin’ Barney style either!

    And who really believes that B. Hussein convinced Citigroup to cancel that jet. Pfft!

  3. comment number 3 by: ablur

    We have got to stop the robbing of the American people by our government. No where in our constitution does it allow for bailouts and give aways. We are looking at the worst abuse of power in our nations history.
    The big financial and auto companies have been mis-managed and greed driven and it is time for a correction. Waiting any longer will make it worse and now we are wasting our money as well.
    Damn, this pisses me off right now. People are being unemployed by the thousands and our government is doing all they can to extend this misery. Our liberal leaders want us more like Europe, well it wont be long before our unemployment numbers match theirs.

    Stop the Bail Outs!
    Stop the Bleeding!
    Allow the correction and adjustment for bad management to play out, and in a year we can turn this around. Keep flushing our hard in money at it and maybe we can make this misery last a decade.

  4. comment number 4 by: Katie

    Well it is one way to make money.

    Why doesn’t it surprise me one bit?

  5. comment number 5 by: Bloviating Zeppelin

    I can only see this getting worse before it begins to get ANY better, unfortunately.

    BZ

  6. comment number 6 by: Wicked Step Mother

    All the CEO’s of businesses that are receiving a hand-out from the government via the taxpayers should be held accountable for all money….this is my two cents….spend it wisely.