First, Wells Fargo is accused of redlining. Perhaps they wanted to stay away from high risk loans? Now it predatory lending practices. Perhaps they were "encouraged" to do so by the Fed's policies?
No one forced the folks receiving the loans to sign the documents. It was incumbent upon those receiving the loan to review the term & conditions. Many chose the sub-prime because they didn't have to provide proof of income for that type of loan. Ever wonder why?
The ARM was simply a bad way to go during historic low flat interest rates. So now it's Wells Fargo's fault? Only in the eyes of conspiracy theory advocates. And as we all know, conspiracy theory is the opiate of idiots...
http://www.baltimoresun.com/news/opinion/letters/bal-wellsfargoletters0630c,0,5956171.story
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