Wells Fargo: Pay no attention to the man behind the curtain!

Remember The Wizard of Oz? Dorothy sees a man working the controls for "The Wizard," and The Wizard promptly says, "Pay no attention to the man behind the curtain!" And that's exactly what Wells Fargo bank wants consumers to do.

Last week it was revealed in the press that Wells Fargo had a lavish Las Vegas vacation planned for some of its "top producers." In light of the fact that Wells Fargo has taken welfare money via the taxpayer-funded bank bailout, it was a bit of a slap in the face to consumers.

But Wells Fargo has gone on the offensive with a full-page advertisement in yesterday's New York Times. So now not only does that welfare recipient want to waste money on vacations, the company wastes even more money justifying the vacations in the media!
The theory being promoted by Wells Fargo is that events planned to "recognize" employees for their contributions aren't necessarily wasteful or unnecessary. Canceling these events hurts morale and employees deserve to be compensated.

My theory is this: If you need welfare money, you should cut out the "extras." That goes for consumers and businesses alike. If you've got money to spend on vacations, you certainly don't need welfare money. So quit using taxpayer money for optional employee benefits, and definitely quit wasting taxpayer money on advertisements justifying your waste of taxpayer money.

Forensic accountant Tracy Coenen investigates corporate fraud and consumer scams, and is the author of Expert Fraud Investigation.
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