Sunday, July 12, 2009

Wells Fargo Sues...Wells Fargo?

This has been picked up on by a few other blogs but I just couldn't resist commenting on it. Just when I think we have reached the lowest level of stupidity, something comes up that makes the case for evolution towards a more stupid state. I seem to never ceased to be amazed. From FoxBusiness:

In this particular case, Wells Fargo holds the first and second mortgages on a condominium, according to Sarasota, Fla., attorney Dan McKillop, who represents the condo owner.

As holder of the first, Wells Fargo is suing all other lien holders, including the holder of the second, which is itself.

Wells Fargo tries to save face...umm not so much:

"The primary reason is to clear title and ownership interest in a property to prepare it for sale," Waetke said in an email exchange. "So it really is not Wells Fargo vs. Wells Fargo."

Yet court documents clearly label "Wells Fargo Bank NA" as the plaintiff and "Wells Fargo Bank NA" as a defendant.

Wells Fargo hired Florida Default Law Group., P.L., of Tampa, Fla., to file the lawsuit against itself.

Of course the lawyers are the ones who are actually coming out ahead. This is of course funded with the TARP dollar and those of us who are still making money paying taxes. Brilliant!!

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