You will simply LOVE this! Our bank bailout money at work Wells Fargo sues THEMSELVES

[dc dalton]

I swear stupidity is becoming a pandemic these days. If I didn't know better I would swear we were living in the twilight zone.

http://yro.slashdot.org/article.pl?sid=09/07/13/1727218

for those of you that can't browse the link:


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/mar...rgo-bank-sues/

[FormerUser123]

wow, so not only are they losing hand over fist, but they are going to waste even more money by hiring a new attorney and suing themselves...

Idiocracy anybody?

[Chuck1981]

While I agree this is nothing but absurd, reading the original article, it seemed to me what the problem is that Wells Fargo is doing exactly what the law says must happen in cases of foreclosure in Florida, am I wrong?

Not saying its right or even smart, but it seems this is happening a lot in FL, maybe it's a "legallities" problem and not just stupid bankers?

Ok, most bankers are stupid, but you get my drift.

[LorDiego01]

almost like the dude who sued himself over incompetence, and wanted to state to pick up the tab; which was in the millions.

[andrewjs18]

wow..seriously?

someone smack me and tell me when we get America back.

[Pector55]

Well, since they can sue themselves, maybe we can all suggest that while at it they go F*** themselves too.

[Robert Kayland]

Probably an insurance and book-keeping thing... intra-company divisional competition... they all have their individual budgets and have to answer to specific bosses, so when it comes to the bottom-line, it's my group's budget and profit margin versus yours, even if you ARE in the same company.

[dc dalton]

Probably an insurance and book-keeping thing... intra-company divisional competition... they all have their individual budgets and have to answer to specific bosses, so when it comes to the bottom-line, it's my group's budget and profit margin versus yours, even if you ARE in the same company.

Nope, read the Fox news article. They gave the guy two loans an 80% first mortgage and a 20% second ... same company, no divisions

[cgbudde]

If they get away with this, then I am going to sue myself and ask the government for a bailout.

[Guns4Fun]

I don't know what you all are talking about. This makes perfect sense to me