Wikileaks and BofA Go to War
Interesting from Zero Hedge:
Bank of America just fired the preemptive escalation shot in its duel with Wikileaks. Late on Friday, America’s biggest mortgage lender, and the firm that is now getting sued left and right for various mortgage transgressions, announced it is joining MasterCard, Paypal and Visa in ceasing transactions for Wikileaks. While this decision will certainly not improve Operation Anonymous’ empathy toward the North Carolina bank, it may just precipitate overt retaliation by Assange, who is now rumored to be in possession of data that could provie harmful to BAC. Which is why this sudden escalation out of left field by the bank strikes as surprisingly odd: BofA’s upside is very limited while its downside could be 100% – even if Wikileaks is bluffing, why provoke them. And as expected, Wikileaks has already retaliated: in two sequential tweets it advised its 568,117 (and very rapidly growing) subscribers to pull their money out of Bank of America…
BofA of being sued out here in Nevada – probably a bit of political hay making on the part of our Democrat Attorney General but, also, the banks have been so entirely screwed up in mortgages and foreclosures that there is probably plenty of grist for the lawsuit mill. While BofA doesn’t hold my mortgage, I observe that if they are even half as incompetent as my own mortgage servicer then there is plenty of trouble to be found in there.
The big question: does Wikileaks really have the goods on BofA? You can read the BofA action as confidence on their part that Wikileaks doesn’t have dirt on the bank – a sort of, “you can’t touch us”, thumb in the eye. On the other hand, BofA may be really in for it due to Wikileaks data and is just cutting the ties in preparation for the lawsuits. Only time will tell.
Read more at Noonan for Nevada
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