Posted on 01/03/2011 8:10:39 AM PST by SeekAndFind
The next big Wikileaks doc drop is supposed to happen early this year. It's supposed to "bring down a bank or two." And that bank's supposed to be Bank of America.
A 3% drop in BofA's share price after everyone more or less decided that the bank in question is Brian Moynihan's was the catalyst for a team of executives taking action, according to the New York Times.
We already know that one of their methods was to buy up abusive domain names like brianmoynihansucks.com, and that they set up a so-called "SWAT team" to prepare their defenses.
And this is how they're preparing for the battle:
* Chief risk officer Bruce Thompson is heading up a team of 15 to 20 of the bank's top dogs that's undertaking a far-reaching internal probe of thousands of documents. They've hired consulting firm Booz Allen Hamilton to aid the investigation, and have obviously spoken to several law firms about what might happen if Wikileaks docs reveal private information about their clients.
* CEO Brian Moynihan gets regular updates on the team’s progress.
* They're looking for missing computers because Assange has previously said he had 5 gigabytes of information (apparently enough to hold more than 200,000 pages of text) on BofA on a hard drive - one of the main reasons the public believes they are the target. So far they've found no evidence that Assange does have a hard drive.
* The bank thinks that what is more likely is that if anything, Wikileaks has documents on paper and discs it gave to the SEC during congressional investigation into BofA's acquisition of Merrill Lynch. They're also considering documents that could reveal embarrassing details about the Countrywide fiasco.
(Excerpt) Read more at businessinsider.com ...
I don’t know about the rest of the country, but I believe out here BOA has been involved in some pretty shady mortgage deals.
Seems they offered folks the opportunity of refinancing at a lower rate and when these people, who never were late on their mortgages did this, they were told in order to qualify they had to be in default. Naturally the people were not comfortable with this, credit history and all being good till this step, BOA told them don’t worry we’ll fix it and when they were in default the bank repossessed. Something like that.
I don’t love BOA. Terrible fees for bouncing checks, they will put through all the debits on someone’s account before they then put in a deposit, even if the deposit is due in before the debit, and make sure you are in the minus department. Then comes the fees on your ‘bounced’ checks. I think they are real crooks.
I still want the property but I'm not paying 2007 prices
I would love to know the true story of why BofA bought Countrywide.
BOA has been (like all national, and even larger regional banks) involved in some far beyond shady things... down right criminal things, and immorral things.
The breaking big national NY and West Coast Banks, would be ugly, and painful, but America would be better off without these snakes. There should never be anything in America that is considered “too big to fail”.
RE: I would love to know the true story of why BofA bought Countrywide.
Would you believe the reasons, Ken Lewis ( BofA CEO ) provided here :
http://seattletimes.nwsource.com/html/realestate/2013641713_realcountrywide12.html
Seems to me that a whole lot of people have got their panties bunched up real tight right now, If I remember correctly NOT ONE PERSON COULD CARE LESS ABOUT WIKILEAKS until he announced that he had this info on the BANKS, then within HOURS he was considered the scum of the earth by ALL IN The Media and Politics WORLDWIDE. Lets hope he really has the goods and releases it promptly.
Makes me wonder just what they are so afraid of.
America may be short of cash, short of integrity, and short of domestically drilled oil, but by far our biggest shortage is in the number of Wall Street bankers wearing orange.
Assange's 'hard drive' is the reason he's wanted in Sweden.
As a former account holder with BOA, I can attest to the bounce check fees that BOA puts on the account. They are crooks.
Bank of America does indeed suck.
All DemonRATS: Rubin, Blankfein, Dimon, Daley.
“They’re looking for missing computers”
I simple google search shows how easy it is to clone a hard drive. Videos are on youtube.
This tells us how dumb these banking execs are.
You know those “Drug inspection next exit” billboards where the police pull over anyone who does a U-turn before the exit? And so we see with BoA. Nothing says “guilty” like building a war room before you’ve even been named as the target of the leak release.
Won’t they be embarrassed when the leaks come out about Chase or Citi. I’d say their actions now give probable cause for an investigation even if they aren’t in the leaks.
Well I hope BOA goes down..
Yeah, they’ve screwed me over a few times. I hate that bank. We still have them, I want to change but not sure what bank to switch to. I don’t trust any of them. I wish I could do like my grandfather did, he kept a little in the bank and the rest in a VERY large and VERY HEAVY safe in the back of his barbershop. He worked for himself as a barber, got paid mostly in cash..... and got through the depression. - funny thing he and my grandmother would shop every Thurs - his day off - and they had a stockpile of toilet paper, canned goods etc....I guess the depression made its mark on them.
“I would love to know the true story of why BofA bought Countrywide.”
In part, it was because Countrywide was the secondary lender for an awful lot of BoA funny paper and had Countrywide gone under the paper would’ve rolled back (excuse me but the industry term is “pi$$back”) to BoA in an unmanageable landslide. By buying Countrywide BoA secured the opportunity to do a ‘hard landing’ of the bad paper as opposed to a crash.
BofA bought the SERVICING RIGHTS but not the actual accounts. The concept was to insulate themselves from the known fraud in countrywide HOWEVER, they act like the bought the notes outright and resold them.
wikileaks SHOULD have released the BofA stuff first.
then they would be heros.
crash BofA and save America?
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