Wells Fargo Bank Sues Itself

Extreme economic problems require extreme solutions, and Wells Fargo Bank has come up with a good one. They have decided to sue themselves. Wells Fargo holds the first and second mortgages on a condominium that is going into foreclosure. As holder of the first, they are suing all other lien holders, including the holder of the second, which is Wells Fargo. It gets better. The company has hired a lawyer to defend itself against its own lawsuit. The defense lawyer even filed this answer to the complaint, "Defendant admits that it is the owner and holder of a mortgage encumbering the subject real property. All other allegations of the complaint are denied." On the website The Consumer Warning Network, Angie Moreschi wrote: "We've apparently reached the perfect storm for complete and utter idiocy by some banks trying to foreclose on homes."

Comments

You can Do that?

[Monkeedude1212]

I'll See Me In court!!!

Re:You can Do that?

[tmosley]

And when I can't pay up, I'll just ask the government for another bailout to pay the attorney fees and damages!

When a bailed out bank sues itself, we lose.

Re:You can Do that?

[Excelsior]

Recently, I called Wells Fargo and told them to "Go f*** yourselves"; I didn't anticipate they would take me so literally.

Re:You can Do that?

[dkleinsc]

Obviously, his next call with that particular message ought to be to Dick Cheney.

Re:You can Do that?

[AndersOSU]

great idea asshole.

The last thing we need is Dick Cheney firing bunker busting nuclear weapons at his undisclosed location in suburban Washington... ...on second thought... just give us non bureaucrats a warning first, will ya?

Latest news

[Yvan256]

Sales of mattress have started picking up again.

Not if I see me first!

[SmallFurryCreature]

Just for this story we should be able to mod ourselves :)

Re:Not if I see me first!

[EvanED]

Yeah, but you'd immediately have to metamoderate your moderation down, so it works out in the end.

Re:Not if I see me first!

[tenco]

+5 redundant? Are you an IT professional? :)

It's a wash.

[Queltor]

Wells Fargo better make sure the loser reimburses the winner's legal expenses!

Since the lawsuit was filed in Florida ...

[Hotawa Hawk-eye]

why not increase the strangeness and have Wells Fargo hire Jack Thompson to represent one of the sides?

...

...

Oh, right.

Re:Since the lawsuit was filed in Florida ...

[MyLongNickName]

Why not hire him for both sides and let him have the experience of actually winning a case?

Re:Since the lawsuit was filed in Florida ...

[Anonymous Coward]

You're hiding a murder simulator between those ears?

Re:Since the lawsuit was filed in Florida ...

[Anonymous Coward]

He'd be the only one who could pull off making the case even more strange by causing both sides to lose.

Coke did this

[travdaddy]

I remember a similar case when Coke sued Coke Zero. It was all over TV a couple years ago.

Why Hire Another Lawyer?

[Greyfox]

They could save a crap ton of money if they used the same guy to both prosecute and defend the case!

Oblig.

[Anonymous Coward]

Step 1: Sue self.
Step 2: ???
Step 3: Profit!!!

Feedback loops...

[Anonymous Coward]

Did anyone really think the banking industry was immune to one of prime forces of human nature?

There just doesn't seem to be an end to the stupidity that plagues the money farm....

To quote a simpler solution, "Jump You Fuckers!"

Schrodinger's Bank

[XiX36]

They will exist in both a state of winning and losing this case regardless of the outcome. Cool! I would ask why this stupidity is allowed to continue but then I remember that people like this thought credit default swaps were a pretty neat idea. . .

Re:Not only act of idiocy

[FiloEleven]

It's only confusing if you assume that corporations are one monolithic entity.

In fact, they're the exact opposite of a monolithic entity.

The monolith made our monkey ancestors more intelligent. Corporations are making us more stupidity again =(

Re:Suing yourself is collusive litigation.

[cbiltcliffe]

The judge is probably a Monty Python fan, and he's going to let the whole trial go through.

Then, at the end, he's going to say:

"I'm ruling against Wells Fargo, and in favour of Wells Fargo."

Then, promptly get up from the bench, and return to his chamber, all the while laughing at the sound of lawyer's heads exploding in the courtroom.

Re:Not only act of idiocy

[AndersOSU]

I hope the judge fines the plaintiff and the defendant for wasting his time.

Re:Not only act of idiocy

[AndersOSU]

sure.

We can use the unforeseen revenues we accrued in the legal system.

Noooo!! Tag article as LOOPBACK

[Anonymous Coward]

This is just sad.

No, no, NO! You don't understand. This is a case of corporate autoimmune disease (think rheumatoid arthritis)...or management has unlocked the mysteries of 127.0.0.1 .
 
Yep, that's gotta be it. Loopback.

Re:Not only act of idiocy

[gnick]

Corporations are making us more stupidity again =(

There's something oddly beautiful about that statement. But it hurts my brain as I try to figure out exactly what.

The Hack is comming from your own Machine!!!!

[jameskojiro]

From port 127.0.0.1 !!!

OMG, Ponies!

Re:Suing yourself is collusive litigation.

[tnk1]

"To make this easier, the Court has decided to give code names to the two sides in the litigation. Let the record show that the Plaintiff, Wells Fargo Bank NA, will henceforth be known as Fucktard, and the Defendant, Wells Fargo NA, will be known as Asshat. The counselors are instructed to refer to their clients by the names given by the Court in order to clarify the record. Failure to do so will result in a contempt citation.

Please proceed with your opening arguments, Fucktard."

Re:not schizophrenia

[Yert]

I understand that you're making a joke. But your language failed. Sorry to geek out over it.

Not geeking out, Obsessive-compulsive Disorder.