Seattle Cuts Ties With Wells Fargo
Just this week, Seattle became the first city to officially cut ties with Wells Fargo over the Dakota Access pipeline protest. They want to end their relationship apparently because of the banks financial support for the pipeline project and the company that's building it. Wells Fargo is responsible for handling about $3 billion every year just from Seattle.
The pipeline is still a very heated issue, with many standing on either side of the argument. The $3.8 billion dollar project is expected to travel from North Dakota to Illinois and at the moment the most controversial area is that near the Missouri River, where numerous tribes and activists have camped-out and protested. They say that the pipeline threatens their water supply and violates sacred sites.
There are still hundreds of protesters who remain in North Dakota near the river crossing.
I find the fact that Seattle is positioning itself away from Wells Fargo to be quite amusing, considering that it wasn't that long ago that it was revealed that Wells Fargo was involved in a scandal where many of their customers were lied to and stolen from. Wells Fargo ended-up being fined by the government and they agreed to pay roughly $185 million to their customers who were victimized.
Wells Fargo is just one of about 17 investors involved in the pipeline project. The city alleges that the bank has supplied more than $347 million in credit to those who are taking part in building the pipeline. The bank has responded to the move and said that they are disappointed the 18-year-relationship came to an end, yet they will continue investing in the project. The contract to renew their relationship is expected to come to an end in 2018 and the plan is that they won't be renewing that contract.
Pics:
NY Post
CNBC
Sources:
http://www.latimes.com/nation/la-na-seattle-divests-from-wells-fargo-20170206-story.html
https://steemit.com/money/@doitvoluntarily/the-wells-fargo-scandal-execs-walk-away-with-massive-payday
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That's a huge step!
Seattle has their head up their keester- I once had the great displeasure of attending a Redskin/Seahawks playoff game in Seattle a few years back. Never have I seen and been assaulted by a more vile, aggressive and nasty group of idiots in my life- many other Redskins fans that attended the game also endured the same sort of assaults that I did, It got to the point where I got up and left my seat because the drunken idiots Seahawks fans around me couldn't just stick to verbal insults they started touching and smacking me on the back in an unfriendly way- I told the POS they could say whatever they wanted but keep their GD hands off or there was going to be trouble- did I also mention that on the flight out I became more ill than I've ever been in my life?
Anyways that experience left a vile taste in my mouth for that town of drunken, obnoxious Seahawks fans who lack the most fundamental manners- I'll never visit that s**thole city again.
Seattle has gone full SJW since Trump. Washington is obsessively virtue signaling and it's pissing me off
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@shayne