Wells Fargo (WFC) Takes Junket To Vegas


Outrage alert!

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.

What are the odds this event actually goes off as planned? 50/50?

But really, do you think calling Wells Fargo as a top writer of subprime mortgages is a proper characterization. Maybe they deserve a junket for having a balance sheet that’s not a total horrow show, such as at Bank of America and Citi.