Wells Fargo: ‘Feel sorry for us, even with bailout’

Wells Fargo crashes

Don’t you feel sorry for all the banks getting government bailout money?

If you’re Wells Fargo, you want all the sympathy you can get. Especially after a public outcry made you cancel a Las Vegas shin-dig you had planned to celebrate your mortgage officers.

This is the same Wells Fargo, let’s not forget, that held out its hand to the tune of $25 billion worth of TARP funds. What’s a Vegas trip when you have $25 billion from taxpayers? Or a purchase of a major financial corporation? Or a New-York-based lender takeover? Or a $2.5 billion loss in the fourth quarter of 2008?

Wait, who do we feel sorry for?

Jon Carroll at the San Francisco Chronicle thinks maybe we should feel sympathy for Wells Fargo customers:

Were any actual customers helped? No, Wells Fargo does not hold “recognition events” for its customers, the people who actually pay the interest and, oh yes, the taxes that went into the bailout. Sometimes the customers get a free candy cane, though, and who doesn’t like candy?

At least candy is cheaper than financial mergers, sub-prime loans, and a lavish Las Vegas trip for mortgage officers, right?

So let’s all shed a tear for Wells Fargo cancelling its employee pat-on-the-back party – especially in these troubled times when bankers need all the Vegas sunshine they can get.

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