Media  
comments_image Comments

As Wall Street Strong-Arms Consumers, Will WikiLeaks Bring One of the Biggest Banks To Its Knees?

The banks have been going after their critics, but one big Wall Street player may meet its match in the coming weeks.

Continued from previous page

 
 
 

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 Assange told Greenberg that “he had unpublished, potentially damaging documents on multiple finance firms, beyond the bank 'megaleak'” he teased in the interview.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.

  • submit to reddit
Share
Liked this article?  Join our email list
Stay up to date with the latest headlines via email
  • submit to reddit

blog advertising is good for you.