Wells Fargo Bailout Money American Taxpayer As Sucker
The Arrogance of institutions like the Wells Fargo Bank is Amazing. Only in America. Wells Fargo was given 25 Billion Dollars as taxpayer bailout money and they went right ahead and booked a Las Vegas casino junket at the Wynn Las Vegas Hotel and its sister hotel, the Encore Las Vegas and then had the nerve to defend this. You see a conference for their employees and guests is a Wells Fargo tradition. “Recognition events are still part of our culture,” spokeswoman Melissa Murray said Tuesday afternoon. “It’s really important that our team members are still valued and recognized.”
I find it amazing that while the American working stiff is asked by the Government to make financial sacrifices, places that your taxpayer’s money is going like Wells Fargo can’t make sacrifices because of their tradition. “Let’s get this straight: These guys are going to Vegas to roll the dice on the taxpayer dime?” said Rep. Shelley Moore Capito, a West Virginia Republican who sits on the House Financial Services Committee. “They’re tone deaf. It’s outrageous.” Supposedly Wells Fargo is reconsidering their decision because of political pressure.
Previous to this, the American International Group Inc. spent $440,000 on spa treatments for executives just days after the company took $85 billion from taxpayers. AIG has since cancelled all such outings. Someone I worked for years ago had a name for all this: “The Constant Sucker Theory”. The American Taxpaper unfortunately is the sucker. But then again we’re the country that gave you Sarah Palin. To read a related blog I posted on this about Senator Claire Haskell’s efforts to stop this crap please click here
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