Saturday, September 12, 2009

Malibu Beach Madness

See that cool house third from the left? It’s on the beach in the Malibu Colony west of LA.

Seems the owners couldn't’t make the payments because they lost all their money in the Bernie Madoff Scam and Wells Fargo Bank foreclosed.

Also seems that Wells Fargo SVP Cheronda Guyton – head of foreclosures – grabbed it as a no-cost, personal $12 million party spot. To keep her perk, she blocked efforts to show the house to potential buyers.

Wells Fargo’s a bit upset about the L.A. Times on this and it’s likely Guyton is on the fast track to unemployment.

But she could still be sleeping off hangovers to the sounds of Pacific waves if only she had connected with the right people.

You see, the people Guyton's bank kicked out had friends in the neighborhood and when they figured out what was going on, they ratted her out to the Times.

Ow. Yet, all she had to do in defense was to install some hip, young, unemployed people as house sitters. They (using her credit cards, of course) could have fronted the parties.

Nor would she have had to fend off potential buyers to maintain a westside presence. It’s the beach, she’s the head of foreclosures and the party is always on the move.