The Scramble By Bank Of America To Negate Wikileaks Upcoming "Ecosystem Of Corruption" Disclosure

Tyler Durden's picture

So far, Bank of America has been aggressively denying it will in any way be compromised by any possible Wikileaks disclosure. After all the bank claims it has done nothing to merit a take down based on what Assange has claimed is an "ecosystem of corruption." As everyone knows, Bank of America is the most non-MERS abusing, bonus non-extracting, putback over-reserved, and otherwise law abiding bank in existence. Which is why we are just modestly troubled by the fact that this innocent not until proven guilty but in perpetuity bank is doing all it can to demonstrate that there is in fact a very disturbing ecosystem just below the surface. The NYT reports that "a team of 15 to 20 top Bank of America officials, led by
the chief risk officer, Bruce R. Thompson, has been overseeing a broad
internal investigation — scouring thousands of documents in the event
that they become public, reviewing every case where a computer has gone
missing and hunting for any sign that its systems might have been
compromised.
" What goes unsaid is that BofA is really looking for what the disclosed dirty laundry is. Which really makes no sense: after all, for that to be the case, there would have to be dirty laundry in the first place, which would mean Bank of America is lying. How does one go about reconciling these two mindbogglingly contradictory facts...

More from the NYT:

By the time the conference call ended, it was nearly midnight at Bank of America’s headquarters in Charlotte, N.C., but the bank’s counterespionage work was only just beginning.

A day earlier, on Nov. 29, the director of WikiLeaks, Julian Assange, said in an interview that he intended to “take down” a major American bank and reveal an “ecosystem of corruption” with a cache of data from an executive’s hard drive. With Bank of America’s share price falling on the widely held suspicion that the hard drive was theirs, the executives on the call concluded it was time to take action.

In addition to the internal team drawn from departments like finance, technology, legal and communications, the bank has brought in Booz Allen Hamilton, the consulting firm, to help manage the review. It has also sought advice from several top law firms about legal problems that could arise from a disclosure, including the bank’s potential liability if private information was disclosed about clients.

Also as was reported previously, BofA mockery of a public redemption campaign continues as the firm ploughs hundreds of thousands of taxpayer capital (how about repaying that TALF money boys?) into buying up every single possible DNS entry which is a permutation of the following: i) executive name (correctly and incorrectly spelled) and ii) act of sexual innuendo (that said if Brian Moynihan would like to recover brianmoynihanswallows.com he should feel free to contact Zero Hedge: we know a guy who knows a guy).

Last month, the bank bought up Web addresses that could prove embarrassing to the company or its top executives in the event of a large-scale public assault, but a spokesman for the bank said the move was unrelated to any possible leak.

Yet it would not be surprising if it turns out Assange is bluffing.

Bank of America’s internal review has turned up no evidence that would substantiate Mr. Assange’s claim that he has a hard drive, according to interviews with executives there. The company declined to otherwise comment on the case. A WikiLeaks representative also declined to comment.

With the data trail cold, one working theory both inside and outside the bank is that internal documents in Mr. Assange’s possession, if any, probably came from the mountains of material turned over to the Securities and Exchange Commission, Congressional investigators and the New York attorney general’s office during separate investigations in 2009 and 2010 into the bank’s acquisition of Merrill Lynch.

As it happens, Mr. Assange’s first mention of the Bank of America hard drive, in October 2009, coincided with hearings by the House Committee on Oversight and Government Reform into the Merrill merger, and with wide-ranging requests for information by the committee.

One thing is certain: the purchased, corrupt and co-opted US regulators, whose only purpose in life is to settle civial fraud claims over a token wrist slap amount, have nothing to do with exposing potential fraud at America's, and probably the world's biggest mortgage lender:

Officials at the S.E.C., the House oversight committee and the New York attorney general’s office insist the information they received had been turned over in the form of papers and discs, never a hard drive, and deny they are the source of the WikiLeaks cache.

At the same time, Mr. Assange’s own statements would seem to undermine the government-as-source theory, hinting instead that resignations might follow as evidence emerges of corruption among top executives, something the public investigations never found.

Hopefully if indeed Assange has anything, and the threat is credible, he will present it sooner or later. After all there is nothing to validate a job well done in packaging trillions of mortgages where nobody knows how is the titleholder then the Dow hitting 36k. Which at the rate the Chairman is going should be attained within 6-12 months.