As much as Democrats love wagging their fingers at all of us racists, homophobes and climate-changers, their first love, borne of longstanding political tradition, is kicking fallen bankers in the nuts. It doesn’t hurt that in the eyes of the Democrats and America’s flourishing grievance industry, many of the perps happen to be privileged white men. Wells Fargo’s bankers in particular have been bludgeoned worse than a pinata at a Cinco de Mayo party, and last summer they paid $575 million to end investigations by 50 states and the District of Columbia.
What did Wells do to deserve this shakedown? I can answer that question from personal experience, since I was one of the alleged victims. I came to possess about a dozen accounts at Wells, including business and personal checking, credit and debit cards attached to each, assorted savings accounts and related “plastic”. I didn’t need so many accounts, but Wells cheerfully opened them for me anyway over a period of several years, ostensibly so that I could enjoy all the features and privileges associated with each.