Haven't heard from Wikileaks in awhile. Also, I didn't see anything realized today. Did anyone else? I'm surprised the media didn't pick this up (too busy with JPY):
Hacker group plans BofA e-mail release Monday
Reuters) - Anonymous, a hacker group sympathetic to WikiLeaks, plans to release e-mails obtained from Bank of America Corp early Monday morning, according to posts on the group's Twitter feed.
The group, unrelated to the document leak website founded by Julian Assange, said it plans to release documents exposing "corruption and fraud" at the largest U.S. bank by assets.
A representative of Anonymous said the documents relate to the issue of whether Bank of America has improperly foreclosed on homes. The representative added that he had not seen the documents, but he has been briefed on their contents.
A Bank of America Corp spokesman said the documents were non-foreclosure related clerical and administrative documents stolen by a former Balboa Insurance employee.
The division -- which BofA has since agreed to sell to Australian insurer QBE Insurance Group -- provides mortgage and auto insurance for banks, and provides home insurance for consumers.
"We are confident that his extravagant assertions are untrue," the spokesman said.
(Reporting by Joe Rauch; Editing by Gunna Dickson and Dhara Ranasinghe)
I'm still waiting for the WikiLeaks bomb, too. As for this thing, it's pretty clear that they did improperly foreclose, but it's also pretty clear (at least to me) that if they're guilty of anything it's inadequate oversight, not actual criminality. Maybe these emails will change that, but I have a hard time believing that senior executives at a major bank planned to steal people's homes.
A bunch of banker-wannabes are obviously sympathetic to banks at any cost.
yawn...hardly a story.
BoA used a dummy insurance company to insure properties that were not "properly insured" (to their standards of course) without telling their customers and then taking the payments out of the escrow account that was supposed to be used to pay off the mortgage. When the homeowners called in to complain they got a representative that identified himself as working for GMAC, when, in point of fact, they were a representative of the fraudulent insurer.
This isn't "hardly a story". This is a "sharpen my axe".
Spoken like a true main streeter. There certainly was questionable ethics at work, but it's just not a story in the grand scheme of what we know about all of the banks' actions during the mortgage crisis.
If anyone would be ready to sharpen the axe it would be the slate mag/huff po/cnn crowd, and even they yawned.
http://www.slate.com/id/2288384/
Qui eligendi quia odio corporis molestias asperiores fuga. Ea tenetur voluptas ea sint et est dolore. Aut perferendis ullam ut natus.
Quo et modi aspernatur culpa ipsa. Odit assumenda quia nesciunt placeat accusamus. Autem eos explicabo molestiae qui sunt. Non numquam quibusdam blanditiis. Facere officiis ut et beatae.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...