Wells Fargo to Open Bank for Super Rich

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No_Fiat's picture
No_Fiat
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Wells Fargo to Open Bank for Super Rich

 Wells Fargo to Open Bank for Super Rich; Need to Take Finger Off Nation's Pulse First

 

Stand down, Zuccotti protesters, the banks have heard your calls for reform and are yielding to your demands. The majority of the country has been enveloped in financial turmoil, and one of the big banks is finally taking steps to institute change: Wells Fargo is creating a boutique bank for the super rich. According to the Chicago Sun-Times, the wealth management unit will be named "Abbot Downing" and will only service families with more than $50 million in their coffers. Rumor has it, when you open an account you get free Looney Tunes checks.

 

Wells Fargo is combining its existing boutique firm Lowry Hill with its Family Wealth department to create Abbot Downing, and it's slated to begin operations next April. The name Abbot Downing comes from a 19th century high-end stagecoach manufacturer, and it is appropriate considering America's wealth disparity is nearing 1830's levels.

The Sun-Times reports the firm will feature "a full range of services to cater to the super rich, complete with psychologists and staff to build family genealogies." For people who don't have $50 million, Wells Fargo offers other investment options that better suit their needs:

 

 

cmallende's picture
cmallende
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 Almost feels like I'm

 Almost feels like I'm reading the Onion

Retha's picture
Retha
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Posts: 67
cmallende wrote:  Almost
cmallende wrote:

 Almost feels like I'm reading the Onion

Or, watching The Twilight Zone !

xraymike79's picture
xraymike79
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Posts: 2040
retha wrote: cmallende
retha wrote:
cmallende wrote:

 Almost feels like I'm reading the Onion

Or, watching The Twilight Zone !

or my favorite show "Scare Tactics".

No_Fiat's picture
No_Fiat
Status: Silver Member (Offline)
Joined: Oct 20 2011
Posts: 104
xraymike79 wrote: retha
xraymike79 wrote:
retha wrote:
cmallende wrote:

 Almost feels like I'm reading the Onion

Or, watching The Twilight Zone !

or my favorite show "Scare Tactics".

What are you people talking about in your responses?

Retha's picture
Retha
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Posts: 67
No Fiat

LOL...sorry about that....

'Wells Fargo is creating a boutique bank for the super rich."  

Based on all that's going on these days....sometimes it strikes me as funny in a sad sort of way.  So, comparing it to something like The Twilight Zone...keeps me from saying (over & over again) WTF!!

But, then again, maybe for the super rich, having their own bank is a good thing.  Keeps them separated from 'the lil folk'.

 

No_Fiat's picture
No_Fiat
Status: Silver Member (Offline)
Joined: Oct 20 2011
Posts: 104
cmallende wrote:  Almost
cmallende wrote:

 Almost feels like I'm reading the Onion

What is this Onion you speak of?

“Two things are infinite: the universe and human stupidity; and I'm not sure about the universe.” 

Albert Einstein

 

No_Fiat's picture
No_Fiat
Status: Silver Member (Offline)
Joined: Oct 20 2011
Posts: 104
xraymike79 wrote: retha
xraymike79 wrote:
retha wrote:
cmallende wrote:

 Almost feels like I'm reading the Onion

Or, watching The Twilight Zone !

or my favorite show "Scare Tactics".

You seem to find this amusing!

“Two things are infinite: the universe and human stupidity; and I'm not sure about the universe.” 

Albert Einstein

 

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