Derek Fried: Cheap politics, shallow reporting heaped undue sco...

These recent Ramsey County real estate transactions are compiled from certificates of value at the county assessor's office.

[MC Las Vegas NV]

The Wynn and Encore are the most expensive hotels in Las Vegas, why would Wells Fargo not consider a more cost effective alternative??
So the trip is cancelled, as well it should be.

[Show Me The Money]

We loaned banks a bunch of money with the expectation that they will get back to profitability, and pay us back. If we continue to treat them like government agencies we'll never get our money back. I say, stop nickle and diming them about everything they do, and let them proceed with the business of making money and paying us back!

[Cowboy John]

I think MC Las Vegas NV summarized it just fine! Why not a property like the Rio or the Excalibur? Just as nice and they also offer most of the bells & whistles!

[Hilary Smith]

Show Me The Money wrote:

We loaned banks a bunch of money with the expectation that they will get back to profitability, and pay us back. If we continue to treat them like government agencies we'll never get our money back. I say, stop nickle and diming them about everything they do, and let them proceed with the business of making money and paying us back!

Your attitude constitutes a menace to American society. The policies of legitimate governments will consistently represent the interests of the working-class majority. What we have right now in America is a dictatorship of the bourgeoisie which means that even though there are elections here, we still have our candidates chosen for us and they're all from the privileged ruling classes. Working-class Americans are subject to minority rule. My guess is that in your sick mind, you might call that freedom. Let me tell you something: In a king-free society, nobody should be living it up while others wonder whether they'll be able to feed their children. How did we get so selfish? It's despicable.

[Bill]

This is such a typical attitude from the finance world. Yes, awarding people for a job well done is important, but last year was not a job well done.

Most importantly - look out your window, things are bad. People are out of work.

You can take one year off of your awards junket to Las Vegas.

That's a very small sacrifice, something the finance world needs to get used to.

[highland guy]

Bill wrote:

This is such a typical attitude from the finance world. Yes, awarding people for a job well done is important, but last year was not a job well done.

so Bill knows who within Wells Fargo did a good job last year and deserves a reward (cost of which also to be determined by Bill)

wow. the arrogance.

[Chad]

Bill-
Wells Fargo made a profit of just under 3 BILLION dollars last year, in one of the worst markets EVER. What is your definition of a "job well done"? Also, when Wells Fargo is book a block of 1000 rooms, they aren't paying the standard rate. The Wynn and Encore had offered extremely cheap rates for Wells Fargo to bring their conference to their establishment. The reservations were also made in 2007, long before the bottom dropped out of the rest of the mortgage market (Wells Fargo excluded).

[RLW]

Where to start? Let's begin by stating the fact that Wells Fargo has been the Number one sub-prime lender for quite some time now. While there is absolutely nothing wrong with subprime lending, when coupled with loose lending standards, reduced Fannie Mae guidelines and rubber stamped mortgage insurance (or none at all!), Wells and many other lenders courted disaster. Through a concerted effort by lenders to get everyone as much loan and house as possible and greedy consumers to get their dream house on the first try, disaster ensued, Wells is as much to blame as anyone and by Mr Frieds own admission "On the sales side, the people who go probably generated $1 million or more in profits for Wells Fargo shareholders in 2008." So, in the spirit of 'We're all in this together' how about big corporations like Wells who made thousands of dollars off the backs of willing consumers act rationally and responsibly. If $5,000 extra in your paycheck "would not serve as an effective incentive" maybe a dose of reality, say, making $400 a week on unemployment though you worked hard for ten years for your company might work. The lines are growing at the unemployment office and maybe Wells and Mr Fried should acknowledge that any extravagance will not be met well during a period of incredible suffering among their customers and the public at large. Mr Fried, your defense comes off as arrogant. Wells, just as the consumers over the past couple years who took loans they should not have, "accepted government money only when it was made clear that it was an offer they couldn't refuse". You may take exception but most of us know you're trying to justify trips and expenses built on the back of failing consumers. Get a clue.

[Pal Osi]

We call it a shell game. Point out supposed corruption in the banking industry and nobody noticed we used tax dollars to fly to Colorado for a weekend of debauchery, I mean tending to the issues of the people.

[Average Joe]

Wow, the uneducated masses only help fuel the fire, maybe if some of you were doing your job and not posting comments on the internet you would still be employed. Well done article Derek.