Wells Fargo executive partied in foreclosed mansion...

The bank is now investigating reports that a senior vice president and her family spent time living it up in a lavish, $12 million home in an exclusive gated community on Malibu Beach. The Los Angeles Times identified the executive as Cheronda Guyton.

(snip)

But what may be more worthwhile to note is that Wells took over the property in May, and hasn't yet sold it. Wells says that under terms of an agreement with the owner -- the one who got kicked out of the house because he or she was unable to afford it -- the property was "withheld from the market for an agreed-upon period of time."

Wells doesn't explain the length of the time period, or why it made such an agreement. Regardless, one tenant was evicted from a home he or she couldn't afford, and the home remains empty. More importantly, No. 106 Malibu Colony isn't alone.

http://www.thestreet.com/story/10597950/1/wells-fargo-scandal-the-least-of-its-worries.html

Well Fargo gets bailout.
Banks continue to kick the little people out of homes.
SVP parties in a foreclosed home.

...is a total "water-cooler" article. It really is meaningless and the actions
of one--do not reflect the whole.

Still, I'm marveling at how someone would be THAT stupid. Your bank takes billions
in bailout funds, kicks someone out of their home--and you're all swinging from the
chandeliers.

How dim can one executive be?

Anyone who lives in a house in the Malibu Colony is not one of the "little people."

In part because Wells Fargo wouldn't use bailout money to refinance the plant. The plant was called qc diecast and Wells Fargo just flat out refused to put any money at all into the plant and according to a Union leader who worked there, they didn't even try to find a buyer for the place.
edited for clarity. The Union Steward no longer works there as I originally posted. Nobody works there.

They aren't loaning it.

Are they stowing it away for Depression Deux, so they can buy up all of our foreclosed stuff?

Bastids.

Wells Fargo couldn't take the heat. I heard that people were closing their accounts!

http://www.latimes.com/business/la-fi-malibu-wells15-2009sep15,0,3886240.story

Wells Fargo fires executive accused of using seized Malibu home
Cheronda Guyton, a senior vice president responsible for commercial foreclosed properties, had been seen by neighbors using the Malibu Colony house lost by victims of Bernard Madoff's Ponzi scheme.