Government Finally Brings Efficiency to Business!
Just…bizarre…
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.
... 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.
And then Wells Fargo hired another Tampa law firm—Kass, Shuler, Solomon, Spector, Foyle & Singer P.A.—to defend itself against its own lawsuit, according to court documents.
Wells Fargo’s defense lawyers even filed an answer to their client’s own complaint.
“Defendant admits that it is the owner and holder of a mortgage encumbering the subject real property,” the answer reads. “All other allegations of the complaint are denied.”
h/t Michelle Malkin
The insanity of a business hiring a lawyer to sue themselves cannot be overstated. It’s practices like this that made Wells Fargo need the TARP money so bad, and is also the reason they shouldn’t have gotten any.
In a rational world, they’d collapse under the weight of their own stupidity. In ours? They’re propped up in perpetuity with tax payer bailouts, because they’re “too big” to fail.
