Fargo fires exec over Malibu house scandal

"It's shocking what she did. I really question her judgment. How many other bank executives would make a decision like that?" said the resident, who asked not to be identified.

SHOOT: Exactly - How many other bank executives would behave like this? Looting and profiterring off the misfortunes of others?

clipped from finance.yahoo.com Wells Fargo, which received $25 billion in government bailout money last October, was criticized earlier this year for planning events at upscale Las Vegas hotels for top mortgage employees. It said in February that it did not plan any more of these "recognition events" this year. It said at the time that such events were part of its culture, and that it believes in rewarding hard-working team members. Guyton, who had been responsible for Wells Fargo's foreclosed commercial properties, used the 3,800-square-foot beachfront house on Malibu Colony Drive on weekends for parties, one of which had guests arriving on a yacht, the Los Angeles Times reported, citing neighbors. The previous owners of the house -- which sits in the same California community as that of movie star Tom Hanks -- had purchased it for $12 million, but lost a fortune to convicted swindler Bernie Madoff's massive Ponzi scheme, the Times reported, citing a real estate agent.