#1 Wells Fargo cancels lavish retreat in Las Vegas02-04-2009, 11:01 AM
Wells Fargo didn't exactly hit the jackpot when it was revealed that the bank planned a lavish trip for its top mortgage lenders in Las Vegas this month. Wells Fargo canceled the trip late Tuesday afternoon.
The trip, first reported by The Associated Press, was canceled hours after lawmakers and others criticized the plan as a "junket," at a time when the federal government has invested $25 billion in bailout funds in the San Francisco-based company.
Wells Fargo is the largest bank in Colorado, with 22 percent of the state's bank deposits and about 185 offices, after its recent purchase of Wachovia.
The company initially defended the trip after The Associated Press reported it had booked 12 nights beginning Friday at the Wynn Las Vegas and the Encore Las Vegas.
02-04-2009, 11:59 AM
How dare they spend tax dollars like that, only our elected criminals are allowed that perk."If every poor man is to come here and start requesting money for all his children, the applicants will never be satisfied and the nation's finances will collapse." Emperor Tiberius: Tacitus:Annals
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