Wells Fargo says Oops.

Wells Fargo has now decided that instead of going to Las Vegas for 14 junket filled nights at the two most expensive hotels in the city, they are going to be instead telling their mortgage officers "Sorry, no Las Vegas junkets after all."

I can't say that I am disappointed, particularly after my discovery that this is something they do for their mortgage officers. I mean, come on! They are rewarding some of the people that put the country in a mortgage crisis by treating them to 14 nights in the Wynn and Encore hotels? Yes, I know, that saying they are some of the ones responsible for the current crisis is potentially inflammatory, however, my basis for making that comment is from a local Wells Fargo mortgage officer trying to talk my mom out of a reverse mortgage when she needed to save the homes of several in our family. The mortgage officer instead wanted her to take on a high interest traditional mortgage on her house, which would have meant that on their fixed income my parents would have owed around $1,500 a month in mortgage payments on their house. At least with the reverse mortgage there are no payments due on the mortgage as long as it is my father's home.

Those are the kind of people that Wells Fargo wanted to invite to spend two weeks in the fanciest and most expensive hotels in Las Vegas so they could let them know how valued they are. Yeah... oops is right.