Wednesday, December 1, 2010

Wikileaks Fears Drop B of A Stock

Bank of America's stock dropped more than 3% Tuesday on speculation that  WikiLeaks will release potentially damaging internal B of A documents.

During a recent Forbes interview Wikileaks founder Julian Assange said that early next year Wikileaks will release documents seriously damaging a U.S. bank:
We have one related to a bank coming up, that’s a megaleak. It’s not as big a scale as the Iraq material, but it’s either tens or hundreds of thousands of documents depending on how you define it.

Is it a U.S. bank?

Yes, it’s a U.S. bank.

One that still exists?

Yes, a big U.S. bank.

The biggest U.S. bank?

No comment.

When will it happen?

Early next year. I won’t say more.
Assange says he has tens of thousands of documents showing an "ecosystem of corruption."

But which bank?

In an interview last year, Assange told Computer World that Wikileaks had acquired a huge cache of documents on Bank of America.
"At the moment, for example, we are sitting on 5GB from Bank of America, one of the executive's hard drives," he said. "Now how do we present that? It's a difficult problem. We could just dump it all into one giant Zip file, but we know for a fact that has limited impact. To have impact, it needs to be easy for people to dive in and search it and get something out of it."

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