Fraud Ruling Against Wells Fargo in Minnesota Points to Widespread Abuses in Securities Lending Program (via Foreclosureblues)

Fraud Ruling Against Wells Fargo in Minnesota Points to Widespread Abuses in Securities Lending Program Fraud Ruling Against Wells Fargo in Minnesota Points to Widespread Abuses in Securities Lending Program Yesterday, December 23, 2010, 11:44:55 PM | Yves Smith A fraud and breach of fiduciary duty ruling against Wells Fargo in a major scandal in Minnesota may have much broader ramifications for this sanctimonious bank. The facts are not pretty. Wells Fargo, in its investment management operation, used securities lending to boost returns. But the r … Read More

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Author: timothymccandless

I have spent most of my professional life helping people who were being taken advantage of by systems they did not fully understand. As an attorney, I represented consumers against predatory lending practices and worked in elder law protecting seniors from fraud. My family lost $239,145 to identity theft, which became the foundation for my seniorgard.onlime and deepened my commitment to financial education. Since 2008, I have maintained a blog at timothymccandless.wordpress.com providing free financial education. Not behind a paywall. Free, because financial literacy should not cost money. I trade with real money using the exact strategy described in this book. My current positions: Pfizer at $16,480 deployed generating $77,900 per year net. Verizon at $29,260 deployed generating $51,000 per year net. Combined: 293% annualized pace. These are my only active positions. Not cherry-picked.

One thought on “Fraud Ruling Against Wells Fargo in Minnesota Points to Widespread Abuses in Securities Lending Program (via Foreclosureblues)”

  1. Theves. Make way . 30 million to wellsfargo from a lady , 10 million from a man in africa to bank of america . They stole that too ? Department of ministry finance said yes . Wow .

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