Viva Las Vegas: Let Them Eat Cake UPDATE

February 3, 2009

Wow- two updates in one day.

 

Thanks to an alert reader who sent this gem:

 

Wells Fargo & Co., which received $25 billion in taxpayer bailout money, is planning a series of corporate junkets to Las Vegas this month.

 

Wells Fargo, once among the nation’s top writers of subprime mortgages, has booked 12 nights at the Wynn Las Vegas… The hotels will host the annual conference for the company’s top mortgage officers.

 

No, this stuff is too good to make up.

 

The conference is a Wells Fargo tradition.  Previous years have included all-expense paid helicopter rides, wine tasting, horseback riding in Puerto Rico and a private Jimmy Buffett concert in the Bahamas for more than 1,000 employees and guests.

 

Sounds like fun!

 

“Recognition events are still a part of our culture”

 

And what culture would that be?  Would it be the same culture of fraud and waste that originated no-money-down, stated-income mortgages and sold them to Wall Street to be bundled into fraudulent securities sold to pension funds and town councils?

 

Stay tuned as I continue to bring you Let-Them-Eat-Cake updates.  See here for the original theme.  Previous updates include:

 

$100,000 Squash 

Super Bowl Parties and Beach Resorts

 

You may as well enjoy reading about them, because you’re paying for them.

 

 

 

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One Response to “Viva Las Vegas: Let Them Eat Cake UPDATE”


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