Wells Fargo just hit with another massive fraud scandal, but thankfully Donald Trump owes them a lot of money


#1

Originally published at: http://boingboing.net/2016/12/16/wells-fargo-just-hit-with-anot.html


#2

It will all be worth it if we can Make America Great Again and crush the Kulak counter-revolutionaries!


#3

I have seen so many Republicans running around with hard-ons since the election it’s starting to get shady.


#4


#6

Decades ago when I was working in construction, a local real estate developer told me something that always stuck with me.

“The key to this game is to hold so much debt that the bank can’t foreclose.”


#7

Exactly. It’s a variation of the old saying I use when someone asks me how this grifter was able to stay in business so long: when the bank loans you $2-million, the bank owns your arse; when the bank loans you $100-million, you own the bank’s arse.

Also, colour me completely unsurprised that Wells Fargo, along with Deutsche Bank, is one of the few major Western banks that continued to lend this serial bankrupt and fraudster large amounts of money long after most of them decided he was too shady for their business.


#8

Relax. I’m sure Trump will personally assure the public that his decision to let Wells Fargo off scot-free is not evidence of a conflict of interest on his part. Problem solved.


#9

More like “counter hot”, amirite?!?


#10

I used to bank at Wells Fargo, but when I moved, it was to a state where they didn’t have a presence. The bank I’m with now is okay, but I know they would sell me out in a heartbeat if it made them money.


#11

The fucking horror of all this is just too much sometimes.
Nearly all the time, now.


#12

Here’s a fun story that should be covered.

WWE, the home company of Vince and new SBA head Linda McMahon, is looking to borrow a ton of money. According to the Wrestling Observer, the amount is $175 million.

Where are they going to get the money? Will the lender get preferred treatment from the Trump presidency?


#13

Depends on if they pay up:


#14

So Trump’s got half a billion reasons to want Wells Fargo to vanish, if he can throw them under the bus in a way that keeps their creditors from going after the money he’s borrowed from them? Okay, then.

Remember that he’s a guy who thinks bankruptcy is a smart business technique.


#15

Wait, if he owes them half a billion dollars, isn’t it in his interest for them to go under?


#16

Not if it causes them to sue him, leading to a chain reaction where his house of fake-wealth cards collapses on itself.


#17

Every time I think it can’t possibly get worse…


#18

…it already has :frowning:


#19

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