from: Craver, Richard N.
date: Fri, Feb 19, 2016 at 11:40 AM
subject: Do you have comment or future plans related to WF legal decision
from: George Hartzman
to: "Craver, Richard N."
date: Fri, Feb 19, 2016 at 12:23 PM
subject: Re: Do you have comment or future plans related to WF legal decision
In 2008 and 2009, Wachovia borrowed billions from the Federal Reserve’s Term Auction Facility (TAF) with an undisclosed and underutilized Federal Reserve credit line worth more than $50 Billion.
After working at Goldman Sachs from 1976 to 2004 and serving with Hank Paulson at the US Treasury Department, former Wachovia CEO Robert Steel and Wells Fargo CEO John Stumpf, with the help of former Goldman Sachs colleauge Peter Weinberg and Goldman Sachs, misled Wachovia's board of directors to sell Wachovia to Wells Fargo for a $50 million commission split between Perella Weinberg Partners and Goldman Sachs, without telling Wachovia shareholders of massive undisclosed Federal Reserve credit lines.
Both Steel and Stumpf signed false SEC certifications and oversaw misleading and inaccurate court filings in the process, as Wells Fargo also borrowed from the same Term Auction Facility with a massive undisclosed credit line.
After paying Peter Weinberg's Perella Weinberg Partners $25 million and Weinberg and Steels' former employer Goldman Sachs $25 million to advise Wachovia on the merger with Wells Fargo, Steel became CEO of Perella Weinberg Partners in 2014.
Robert Steel earned some of the money he allocated to Perella Weinberg Partners as Wachovia's CEO, after he sold Wachovia to Wells Fargo for substantially less than it was worth and misleading a North Carolina Business Court without consequence, costing Wachovia shareholders more than $42 billion.
Now that I have survived Wells Fargo's Motion to Dismiss litigating by and for myself, I am now looking for legal representation.