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bchris02

Could Wikileaks really end Bank of America?

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I am VERY worried about this. This would not only seal Charlotte's fate as the next Detroit but it could have a domino effect on the financial system dwarfing the 2008 financial crisis (think Dow below 5000, 20% unemployment). What dirt could Assange have that could end the bank? I can see maybe an embarrassment and the firing of the employees, but I don't understand how these leaked documents could cause the entire bank to collapse. I know Wikileaks primarily appeals to doom and gloomers and those who try to find a conspiracy behind everything, so all the hysteria could end up about nothing, but what if they are right? Should we be in panic mode?

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Don't worry too much about it. The government can not allow BofA to fail. That would make 2008 seem like a minor economic hiccup in comparison, and would turn our current economic situation into a true depression. Not only would the 300k people that work for the bank lose their jobs, so would millions more who depend on the bank...I think 20% unemployment may even be an understatement. If President Obama allowed that to happen under his watch, there would be no hope for him in 2012.

As for Assange, he is wanted by the Swedish government for alleged sex crimes, Interpol has listed him as one of their most wanted, and the US is opening up a criminal investigation. The guy has no rapport with the American people and a large number of people from both political parties want him in jail for endagering American security. I don't think that people are going to make a run on deposits at BofA based on a criminal's findings regarding the bank. Futhermore, the Russians are reportedly considering killing his website.

As for him saying he has information that may bring down a bank, I have an easier time believing that the "town drunk" has found a cure for AIDS. What could he possibly dig up about BofA that hasn't already been made public over the past 2 years

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