Wells Fargo & Co. defends, then cancels Vegas casino junket
WASHINGTON -- Wells Fargo & Co. is canceling a pricey Las Vegas casino junket for employees after a torrent of criticism that it was misusing $25 billion in taxpayer bailout money.
The company initially defended the trip after The Associated Press reported it had booked 12 nights at two of the city's most expensive hotels. But within hours, investigators and lawmakers on Capitol Hill had scorned the bank, and the company canceled.
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