Over a span of four years, WayTooHigh.com has regularly been read and analysed by the credit card giants, its member banks, teams of legal council, and many others around the world. This message should therefore get noticed. It is one more review of the banks’ brazen market power and disconnect from its customers.
Today, Wells Fargo CEO, John Stumpf, invested a significant sum to buy a full page advertisement in the national edition of The New York Times.
How much did that cost?
Nice message, Mr. Stumpf, if you were paying for it, but, I paid for it! Along with millions of other U.S. taxpayers, through the U.S. Treasury Capital Purchase Program, we covered your message that Wells Fargo employees are deserving of praise and recognition.
Couldn’t you just have sent them an email or Twitter them?
It might have actually been less money to just send your “hardworking employees” to The Wynn Resort in Las Vegas [ "Wells Fargo Wants to Party, but Maybe Not," NYT, Feb 3], rather than paying for this ad. After all, the global economic catastrophe that you are partly to blame for, has one benefit, super cheap Vegas hotel rooms. You could have sent about 300 employees to the Wynn Resort for two nights for what you (I) paid for this advertisement. Last month for CES, I stayed at The Encore – Wynn property in Las Vegas – for $169 a night, thanks partly to the banking industry’s mismanagement and destruction of our economy.
You’ve come a long way from just being accused of illegally fixing the prices for the antiquated and nearly $60 billion annual merchant interchange fee gimmick of which Wells Fargo is a member bank and named defendant.
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