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Get off my lawn!
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Wells Fargo Bank Sues Itself
Extreme economic problems require extreme solutions, and Wells Fargo Bank has come up with a good one. They have decided to sue themselves. Wells Fargo holds the first and second mortgages on a condominium that is going into foreclosure. As holder of the first, they are suing all other lien holders, including the holder of the second, which is Wells Fargo. It gets better. The company has hired a lawyer to defend itself against its own lawsuit. The defense lawyer even filed this answer to the complaint, "Defendant admits that it is the owner and holder of a mortgage encumbering the subject real property. All other allegations of the complaint are denied." On the website The Consumer Warning Network, Angie Moreschi wrote: "We've apparently reached the perfect storm for complete and utter idiocy by some banks trying to foreclose on homes."
http://www.foxbusiness.com/story/markets/al-lewis-wells-fargo-bank-sues/
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Glen 49 Year member of the Porsche Club of America 1985 911 Carrera; 2017 Macan 1986 El Camino with Fuel Injected 350 Crate Engine My Motto: I will never be too old to have a happy childhood! |
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07-16-2009, 05:42 AM
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Cars & Coffee Killer
Join Date: Sep 2004
Location: State of Failure
Posts: 32,246
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I picture Obama tapping his fingertips together (like Mr. Burns) saying: "Excellent..."
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Some Porsches long ago...then a wankle... 5 liters of VVT fury now -Chris "There is freedom in risk, just as there is oppression in security." |
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07-16-2009, 05:54 AM
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Dog-faced pony soldier
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I'm completely shocked and appalled that so many of these banks are even allowed to still be in business after the irresponsible, reckless and idiotic lending practices they engaged in over the last 10-or-so years. Wells Fargo was one of the worst offenders - you know the rest (the Washington Mutuals, Countrywides, Chases and Citigroups of the world...)
It wouldn't bother me one bit to see every greedy, short-sighted jerkoff who tried to capitalize on the recent "bubble" lose ten dollars for every one they thought they'd so smugly "earned". These banks (and the shmucks that borrowed from them, creating the demand) are the idiots that are directly responsible for the current mess our economy is in - more culpable than George W. Bush or anything else. Yes, there are/were other factors, but the actions of these kinds of lenders are the proverbial "straw that broke the camel's back". And you and I (the taxpayers) get to fund their sleaze, greed and incompetence. How American.
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A car, a 911, a motorbike and a few surfboards Black Cars Matter |
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07-16-2009, 06:10 AM
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Carrera
