Sunday, March 13, 2011

A Reason to Stop Banking with Wells Fargo « naked capitalism

A Reason to Stop Banking with Wells Fargo « naked capitalism

This is a great story and certainly lays out a great case for not banking with Well or with anyone TBTF bank. All the TBTF banks are full of hypocrites and liars who never get questioned by the media or the government. The scam that was called a bailout of AIG was a complete fleecing of the taxpayer to benefit all large banks including JP Morgan , BOFA, Wells, Goldman Sacs and on down the line. We bailed out the banks once and then lined their pockets with more cash when we bailed out AIG so they could pay all the CDS they over sold to the TBTF banks. Now the banksters won't even work with homeowners that want to stay in their homes and they say it wouldn't be fair. EXCUSE me! What was fair about the bailouts that every single major bank took, even the ones that said the "didn't need it" of course. The allowance of accounting trickery to let the banks survive and dump all the burden of capital losses on to the homeowners. Congress failed to stand up to the banks and now it looks like the AGs are going to let the banksters off the hook too.

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