Lewis: Wells Fargo so big its suing itself

Skip to comments. wells fargo bank Sues Itself FoxBusiness.com ^ | July 10, 2009 | Al Lewis Posted on 07/13/2009 6:34:42 AM PDT by GovernmentShrinker. You can’t expect a bank that is dumb enough to sue itself to know why it is suing itself.

 · Proxy adviser Glass Lewis on Tuesday recommended that Wells Fargo & Co shareholders vote against six directors at an upcoming annual meeting, in protest of improper sales practices in its retail bank.

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Pimco sues Wells Fargo claims mortgage-backed. to protect to indemnify itself and to finance its actual and expected defense costs," the complaint said.. from Morgan Lewis & Bockius.

A couple of weeks after Lewis was fired, he received still more bad news: Chai-Chang apparently denied a long-pending refinancing of his home mortgage, according to Lewis’ lawsuit. Wells told.

So what can Wells Fargo do to survive? Since it seems pretty clear that Wells Fargo’s problems were systemic, heads should roll at a high level and new blood should be brought in to regain trust. David Axelrod, a partner with law firm Ballard Spahr and a former SEC prosecutor says The Wells Fargo crisis is an egregious example of a bank gone.

Lewis: Wells Fargo so big its suing itself Pimco sues Wells Fargo over crisis-era mortgage bonds. and to indemnify itself against its own negligent and wilful misconduct" in connection with 11 residential mortgage-backed securities. SM US, Super Mall U.S. lives within Super Mall Sphere.

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Wells Fargo Sues Wells Fargo? Fox News Interviews Al Lewis of Dow Jones about it. You can’t expect a bank that is dumb enough to sue itself to know why it is suing itself. Yet I could not resist asking Wells Fargo Bank NA why it filed a civil complaint against itself in a mortgage foreclosure case in Hillsborough County, Fla.

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