Author Topic: Wells Fargo: Proudly Plunging Toward Bankruptcy  (Read 1144 times)

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Offline oldmomster

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Wells Fargo: Proudly Plunging Toward Bankruptcy
« on: June 23, 2016, 01:51:41 pm »

Wells Fargo: Proudly Plunging Toward Bankruptcy

Mike Adams|
Posted: Jun 23, 2016 12:01 AM


Market watch recently reported that Wells Fargo stock has plunged into its greatest losing streak in nearly nine years. This comes as little surprise given the fact that the company has experienced a takeover at the hands of radical leftists. Leftists may be experts in certain things like organic gardening, herbal healing, and folk music. But they are not known for their expertise in economics and personal finance. In case you have missed Wells Fargo’s recent radical political shift, here are some of the highlights:

-GOP Convention Boycott.  It is pretty difficult to imagine a bank boycotting a major political party and that party not being the Democrats. As bad as the GOP has failed at reeling in big government, the Democratic Party has always been worse. For decades, they have actively promoted massive government as a basic tenet of their political philosophy. Given the clear antipathy towards capitalism shown by Democrats it’s fair to ask what non-economic issue could possible lure a major bank into actually favoring their party. A brief perusal of the Wells Fargo twitter account supplies a ready answer.

-Multicultural Social Media Activism.  A couple days ago I took the time to read the last ten tweets on the Wells Fargo twitter page. Of those ten tweets, seven were about “diversity and inclusion.” Six of those seven tweets were specifically about homosexuality. And therein lies the explanation for their decision to boycott the GOP. While you will not see them at the Republican convention, you will still see their floats at every major gay pride parade in America. The Wells Fargo logo is always prominently displayed somewhere between the inflatable penis floats and the men wearing assless chaps and doing pelvic thrusts to the sound of the Village People singing YMCA.

-PRIDE Cards.  You don’t have to log on to the Twitter account to get an overdose of gay activism from Wells Fargo. Just visit one of their ATM machines this month, which is now officially LGBT PRIDE Month. When you insert your card this June, Wells Fargo will remind you that we are all “Stronger Together” before inviting you to customize your debit card. Seconds later, a rainbow colored card will appear with the word “PRIDE” emblazoned across the front. From there, you will be directed toward a special link that allows you to choose from an array of four different gay pride debit cards. What a fabulous way to remind everyone that withdrawing is not the same thing as staying in the closet!

more....

http://townhall.com/columnists/mikeadams/2016/06/23/wells-fargo-proudly-plunging-toward-bankruptcy-n2182232?utm_source=thdaily&utm_medium=email&utm_campaign=nl&newsletterad=

Offline SirLinksALot

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Re: Wells Fargo: Proudly Plunging Toward Bankruptcy
« Reply #1 on: June 23, 2016, 02:13:06 pm »
RE: Wells Fargo: Proudly Plunging Toward Bankruptcy

This is going to be ironic if it really happens as they were one of the few big banks ( JP Morgan being the other one ), that did not need any bailout money during the mortgage crisis of 2008-2009. If I recall correctly, they were telling the Fed that they did not need bailout money, but they were forced by Bernanke and team to take it anyway for fear that if they did not, there would be mass withdrawal of money from the weaker banks to Wells Fargo.

Offline oldmomster

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Re: Wells Fargo: Proudly Plunging Toward Bankruptcy
« Reply #2 on: June 23, 2016, 02:39:04 pm »
RE: Wells Fargo: Proudly Plunging Toward Bankruptcy

If I recall correctly, they were telling the Fed that they did not need bailout money, but they were forced by Bernanke and team to take it anyway for fear that if they did not, there would be mass withdrawal of money from the weaker banks to Wells Fargo.

They did repay it though.  It appears the crazies got control after that, LOL.

http://money.cnn.com/2009/12/14/news/companies/Wells_Fargo_TARP/index.htm
« Last Edit: June 23, 2016, 02:40:08 pm by oldmomster »

Offline IsailedawayfromFR

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Re: Wells Fargo: Proudly Plunging Toward Bankruptcy
« Reply #3 on: June 24, 2016, 01:45:48 am »
In his book Good to Great, author Jim Collins (2001) identified Wells Fargo as one of the most successful companies in history.  This success, as outlined, was due to basic principles that were present at all times.

https://en.wikipedia.org/wiki/Good_to_Great

It so sad to see what destruction has occurred in such an admirable company as it sinks into the abyss to become another spectacular display of abandonment of those principles upon which they had built its success. 

There is a political party which I could point to which has done the same.
No punishment, in my opinion, is too great, for the man who can build his greatness upon his country's ruin~  George Washington

Online GtHawk

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Re: Wells Fargo: Proudly Plunging Toward Bankruptcy
« Reply #4 on: June 24, 2016, 02:35:35 am »
They may have been a great company.......once, but right now this couldn't happen to a more deserving lying, cheating, conniving group of thieves! Just ask the many thousands of former fartgo mortgage customers that were screwed deeply as the stage coach ran them over.

Offline sinkspur

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Re: Wells Fargo: Proudly Plunging Toward Bankruptcy
« Reply #5 on: June 24, 2016, 02:48:50 am »
Well, The Motley Fool has a different story regarding Wells-Fargo.  Passed the stress test.  Not nearly as dire as the article above speculates.

http://www.fool.com/investing/2016/06/23/wells-fargo-passes-the-2016-stress-test.aspx
« Last Edit: June 24, 2016, 02:49:24 am by sinkspur »
Roy Moore's "spiritual warfare" is driving past a junior high without stopping.

geronl

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Re: Wells Fargo: Proudly Plunging Toward Bankruptcy
« Reply #6 on: June 24, 2016, 03:05:46 am »
Leftists are always happy to run a company into the ground "for the cause"