Bailin' out the lawyers (Part 2)

Ok. For those of you not reading this blog backwards, in the order I've been posting, you'll see that a couple posts ago, I was bitchin' about banks suing each other with and for their bailout funds we gave them. In my apathy towards finding solid examples, I went with the first couple I found after googling the story I had heard on the radio. They were good enough examples to get my point accross, but little did I know: The PERFECT case of banks suing themselves was right under my nose.

Wells Fargo NA has sued itself in a mortgage foreclosure case in Hillsborough County, Florida.

Yes. Go ahead, read that again. Yes. Its true. It has even hired a lawyer to defend itself from itself.

Oh my.


Parsed, Cut, 'n Pasted details: (sweet, sweet apathy) Al Lewis: Wells Fargo Bank Sues Itself(fox)
In this particular case, Wells Fargo holds the first and second mortgages on a condominium. 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.

To be sure: Wells Fargo NA, which is considered by our government as 'Too Big To Fail' was given $25,000,000,000 (as of 2/2009) to ensure they'd have funds left over for the legal fees to sue itself. And what we're not spending in federal subsidies directly to the bank, we're spending on the Judge's salary, the court clerk's salary, building, maintenance, and upkeep fees to make sure all parties involved have a means to sue themselves whenever they see fit.

THIS is whyipaytaxes.

To give true credit where credit is due, this story was discovered at FailBlog.org.