As Wall Street Strong-Arms Consumers, Will WikiLeaks Bring One of the Biggest Banks To Its Knees?
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These are just a few scenarios that could prove disastrous for the bank. And it's worth keeping in mind the context: the ostensibly 'too-big-to-fail' banks were bailed out under George Bush with the complicity of a Democratically-controlled Congress. It proved to be wildly unpopular, and was used by GOP operatives to help launch the Tea Parties. Now, with a Democrat in the White House and a Tea Party Congress, an additional bailout would be a tall order.
But BofA shouldn't be the only bank sweating over what might be revealed by Wikileaks. Assange told Greenberg that “he had unpublished, potentially damaging documents on multiple finance firms, beyond the bank 'megaleak'” he teased in the interview. It's worth noting that while Wikileaks has been propelled into the spotlight releasing U.S. government documents, its bread-and-butter has been exposing corporate malfeasance. “It is our normal business to publish information about banks,” Assange told reporters earlier this month. “We have been attacked primarily not by government … but in fact by banks: banks from Dubai, banks from Switzerland, banks from the United States, banks from the UK. So yes of course we are continuing to release material about banks.”
Again, nobody really knows what Wikileaks might yet uncover, but it could get really interesting.
Joshua Holland is an editor and senior writer at AlterNet. He is the author of The 15 Biggest Lies About the Economy (and Everything else the Right Doesn't Want You to Know About Taxes, Jobs and Corporate America) . Drop him an email or follow him on Twitter .