» Wells Fargo v. Wells Fargo
You know the economy can’t be good when banks are suing themselves. I think this is hilarious:
The Consumer Warning Network website reported on July 2 that Wells Fargo had filed a complaint against itself in the process of trying to clear title to a home so it could foreclose. CWN was told by the homeowner’s attorney that Wells Fargo holds the first mortgage on his client’s condo, and had sued all other lienholders including the holder of the second mortgage, Wells Fargo.
Wells Fargo hired a Tampa law firm to file the lawsuit against itself, and also, in a very sensible move, hired a different law firm to defend it against itself. (Presumably, it hired separate counsel to defend itself against itself in order to avoid having the same firm on both sides of the case. Because that would be a conflict of interest, you see.) Wells Fargo promptly filed an answer to Wells Fargo’s complaint, which read as follows: “Defendant admits that it is the owner and holder of a mortgage encumbering the subject real property. All other allegations of the complaint are denied.” (That is, Wells Fargo denied most of the allegations it had made against itself.)
