But, but, but... we don't own the shares, we just manage the funds.
The Oregonian
Anne Saker
1/24/12
In downtown Portland, protesters laugh at rain to chant at Wells Fargo
Quote:
In Tuesday's steady rain, about 40 people held the sidewalk in front of
the Standard Insurance Center to protest Wells Fargo's investment in private companies
that build prisons and the institution's lending and foreclosure practices.<snip>
Jamie Patridge (left) and Sean Staub are dressed for their street theater performance
during a protest Tuesday against Wells Fargo in downtown Portland.
About 40 people gathered at the Standard Insurance Center to demand
that Wells Fargo divest of stock in companies that build private prisons
and rewrite its lending and foreclosure practices.<snip>
Tom Unger, a spokesman for Wells Fargo, stood inside the lobby
of the Standard Insurance Center to watch the protest.
He said later that protesters misunderstand Wells Fargo's
involvement with the private-prison builders .
"It's based upon a false premise.
We don't own shared of the comapnies they're upset about.
We have some mutual funds that we manage and
they currently hold a small position in one of the companies.
The owners of the mutual funds own the shared.
We manage the funds."
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