someone @ Wells Fargo is shivering @ the thought you will move your accounts.
Actually, this was overdue. The Bank is regulated by the Feds and the FDIC. The marina and unsold slips were considered a toxic asset. They were probably being flogged by some little official @ the FDIC to unload this dog.
Now watch how quickly an investor or group of investors will step in; purchase it for pennies on the dollar; and make a killing once the economy recovers.
As I always say when dealing with a bank official to purchase foreclosed property, "I am not in the business to help bankers get over dumb loans".
WF has a far bigger problem. They have a stockholder lawsuit being filed for some of the dumb buyouts they made.
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