Who said Wells didn't act responsible? If anything Wells is/was one of the most stable banks. Wachovia and Citi are the ones that were irresponsible. Wells would have done just fine without the acquisition. The money was given because of the risk Wells was taking on with Wachovia.
Is "one of the most stable banks" a bit like pimping the sanest guy in an insane asylum?
Regardless, my point is that as a taxpayer it sure seems unseemly for my money to be given to a corporation only for the corporation to turn around and lavish its employees with benefits that I certainly don't get.
A self-interest in winning a trip isn't, to me -- as one who is now, apparently, going to subsidize that trip -- a particularly good reason to justify such a luxury.
how about this... let these s all fall to the ground and allow others to blossom. i'm sick of these bailouts just to hear about vacations, private jets, and the likes with all our tax money.
the banks! the bailouts! our government for being to stupid to realize this ain't in' workin'.
Welcome to the Infinite En lement Cafe, FWD.
We're for lunch. They're infinitely deserving.
In that case, the acquisition of Wachovia was irresponsible.
Aren't Wells Fargo shares about 40% lower than just before the takeover?
Party time!
So you think that the bailout is the first time tax payer money was used for stupid stuff. Even at a local level School boards, housing authorities, crap like that it's used to fund nicer cars, hotel stays, expensive dinners, etc.
These trips were budgeted and the money was put aside before any of this bail out stuff. I help budget our stuff on a local level.
did you happen to glance over
"Wells Fargo to pay $371.5 million dividend to U.S. Treasury"
Say, are you posting from work?
Yes they went from just over $30 to just over $18.
So where is the irresponsibility? Is it in taking over loans and jobs that would have gone to the FDIC or i bank and people would have lost? Sure jobs are going to be lost but nowhere near the level where they would be.
Idiots always single out the negative and look over the positive.
What is the positive again?
Oh yeah, the Wynn vacation.
Just busting your balls. If you are posting from work, though, it could be argued that your vacation has already started.
Are you?
No.
Are you?
I don't care what Wells Fargo gave back -- and I don't care if irresponsible use of governmental funds is the most time-honored tradition in this land. The simple fact of the matter, to me, is that in a time of substantial financial woe for many citizens, thanks largely to the irresponsibility of banks and other lenders, it is beyond unreasonable to accept a governmental bailout and turn around within months to lavish employees with a luxurious trip.
If that doesn't bother your conscience, then so be it.
Just remember that there are a whole lot of Americans, without jobs and struggling (to say the least) for reasons that largely were far beyond their own control, who could stand be valued. Sending bank employees, who are in a far better position than those people, to Las Vegas for a junket doesn't strike me as particularly compassionate or prudent.
Enjoy your taxpayer funded junket, though.
I will, thanks
Look I am going to defend Wells because I work here. Maybe I'm not like you and I don't have the luxury of saying I don't agree with my company so I will quit and find another job because there are tons out there.
Put the shoe on the other foot and you would work your ass off to win a trip and you can say all the bull you want because it's easy to talk from the outside looking in.
FTW = For The Wynn
yup
So gracious and so humble too.
Actually, in these cir stances, I'd be flatly embarassed to take such a trip and would refuse it. But that's probably just me.
I guess it takes a special person to gloat luxuries afforded to him or her when those luxuries are funded by taxpayers in an economy that's generally taking on water.
The bailout was forced upon because of the merger.
Like I said, anyone can bull and say that they would turn down an all expense paid trip to Vegas or Hawaii or anywhere for that matter when they know it will never be offered to them.
Oh look a 20 on the street let me ask everyone I see if it's theirs
Don't try to make things better, I. Hustle. It's not working.
mmmmmmmm cake
I would turn it down. It wouldn't take me very long to do it.
But do keep trying to find justifications for accepting these kinds of "in your face, taxpayers" excesses. After all, those of us on the outside are really just jealous; we couldn't possibly be speaking from a point of conscience or reasonableness.
YEAH let's do that! Because there is no way that the ones that "blossom" will turn around and do the exact same thing.
mmmmmmm cake
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