Critique on “Wells Loses Mortgage Discrimination Case”

First of all, I found this post to be very interesting. I was unaware that Wells Fargo had come under this kind of investigation. As far back as I can remember, whenever I heard mention of Wells Fargo it was always referring to the wealth & prosperity of their business. I have always known Wells to be a very large cooperation, to which many of my economic & business professors have made reference to. So it did come as a shock to me to read this post, and to read the article attached with it. I think Warren has done a great job explaining exactly why this case pertains to economics, especially the concept of price discrimination. To me it seems that Wells should have known there was no way to keep up this policy. Something like that is always open to the public, and will come under especially close examination if there is even the slightest notion of the company being discriminating. I would say that the only thing I would change about the article is how deeply the topic was explained. I only say this because I was so interested in the article that I wanted to know more. I would like to know some of the specifics about exactly where Wells was implementing these policies and on how large of a scale they were doing so. I find cases like this one fascinating. I guess it’s because I find corruption and conspiracy on such a huge scale to be fascinating as well. The idea that a large, public cooperation like Wells Fargo actually invented, implemented, and carried out a policy that offered lower mortgage rates specifically to people who weren’t ethnic is incredible. Another facet of this article that I find interesting is how racial discrimination and price discrimination are so closely tied. It would make for good class discussion to see if we could come up with other ways of how economics and social justice issues like these are tied together. Another change I would have made to this post would have been at the end. What punishment was brought down on Wells Fargo? Maybe it’s just my curiosity getting the better of me, but after an allegation like this one I would be very interested to know what happened to Wells in the end. Overall, this was a very good look at how economics ties into the real world, well done Warren.