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Anonymous Leaks Internal Bank of America Emails
euphemistic writes "Reportedly the information Wikileaks was set to disclose about a particular bank back from December, 'a massive batch of internal Bank of America emails' has been leaked. While the site hosting it seems to currently be down due to the obviously gigantic amount of traffic interested in this leak, the leak is said to pertain to the Bank of America's improper foreclosure on homes. 'The report came from a former employee with Balboa Insurance — a risk management and insurance firm. The employee reportedly corresponded with Bank of America employees and was told to falsify loan numbers on documents to force Bank of America to foreclose on homeowners.'"
I guess this explains why Bank of America's law firm was so willing to buy into HBgary and other's bullshit about being able to take down Anoynymous and Wikileaks.
SJW: Someone who has run out of real oppression, and has to fake it.
.. nothing will happen.
Am I eval()? - http://www.monst3r.com.br
and switching to a more reputable corporate behemoth like... hrmm... like... uhhh... doh!
Having a bookmark to Google does not make you an expert on everything.
Reportedly the information Wikileaks was set to disclose about a particular bank back from December, "a massive batch of internal Bank of America emails" has been leaked.
Is this saying that Wikileaks' information was leaked by a third party?
As for bank foreclosure fraud, we've known for a year or more that banks have been doing that. A common case is that all the shady asset-juggling left things in a state that no one knows who actually has the rights to it, so the evictions are rushed through without proper legal scrutiny, or even on the basis of forged documents.
Sheesh, evil *and* a jerk. -- Jade
If there is any connection with this to the women being shot and killed a few hours ago at Bank of America, I would had to see that connection not be made.
Simple Google News search will get you the links.
And here is a better link than the one posted (provides screenshots and better context of th conversation):
http://bankofamericasuck.com/03/13/ex-bank-of-ameica-employee-can-prove-mortgage-fraud-part-1
Wikileaks is sitting on all sorts of good stuff about Russia. Why does Assange not release that?
I prefer the "u" in honour as it seems to be missing these days.
The governement administration was pretty quick to hand them money to keep going and the oversight seems to be uninterested in putting people in jail.
If you pickpocket a $100 store item expect to go to jail. If you force thousands into bankruptcy and put several nations into financial stress you will have no problem collecting your yearly bonus pay.
It seems to me we need a crack down on white collar crime.
Stop jailing people for grams of pot and start jailing people for ((( some smart saying I can't think of that means investment people who steal money))).
In their defense, they have invested a LOT of money in buying off Congress. It's only fair they get a return on that investment. That's the free market at work.
SJW: Someone who has run out of real oppression, and has to fake it.
Members of the Senate Finance Committee will hem and haw and grandstand.
BOA will make some lamo PR statements from the spawn of Satan that PR and Marketing people are.
BOA will then make some "campaign" contributions to the Senators and after a few weeks, the public will have forgotten it all because the powers that be will come up with some distraction issue. A distraction issue is something that really isn't important to this country's well being: going after Muslims (Sen .King), security, non-existent terrorism threats ("possible threats as they call them"), and if everything else fails, bring up some sort of abortion issue or religion issue. Abortion is a great way to distract the hoi paloi.
People are stupid.
As someone who has worked for a big bank, I can assure you that while there are pockets of AMAZINGLY retarded people that commit blatant fraud, it is mostly just a large group of MOSTLY retarded people committing fraud and not really recognizing that's what they're doing.
I worked hand in hand with the foreclosure group and I think I can summarize what's really been happening:
1) Overwhelming Workload + Incompetent Staff = Mistakes
a) Leads to massive spike in hiring through temporary agencies and the introduction of a much larger group of incompetent people into the process.
2) Convoluted, counterproductive processes + people who can't use excel spreadsheets = Mistakes
a) See 1a
3) Incentive Structure - This one's a bit harder but most banks use production based incentive structures to pay employees beyond their base pay. The more work you do, the more money you make. If it's easier to get rid of a "file" (troubled loan) by tossing it to the foreclosure group and having it roll through that process than it is to help someone save their house, guess what happens. If it takes you an hour to successfully help someone (which it doesn't, it takes days or weeks) or 10 minutes to move their file to foreclosure and therefore out of your stack, and you get paid based on how many files you move out of your stack, guess where all your files go.
4) Banks DONT LIKE TO RESCIND SALES. It costs them money.
To me, this is all SUPER old news. I watched this happen in real time for years and the news was always WAY behind on what was happening and WHY. It's not as simple as "banks are greedy and committing fraud/crime." That's certainly a part of it, but not nearly half of it. Realistically it's "There's too much work to do and the people doing it truly don't understand what they're doing"
It's way easier to recognize what's really happening when you look at how things are done at the bottom. Listening to CEOs and PR reps is a waste of time, they have no idea what's really going on underneath them.
The problems we have always faced are the result of incompetence, period. More to the point the problem is people.
I can't help but wonder who's really behind this leak. It smells a LOT like a false flag operation.
Bank of America has known for months that they're the next major Wikileaks target. Now all of a sudden the material pops up "from Anonymous", in the middle of the Japan earthquake, a HUGE news story - and over the weekend. I tried viewing the site all morning and have been getting 503 errors. If you wanted to bury an inevitable major embarrassment to your company, I think this is how you do it. Wikileaks, for all their faults, would never release this while there were so many other major developing stories.
Your comment about "this period of history" draws attention away from the fact that the U.S. government is EXTREMELY corrupt. Few in government are on the side of the people. Most of the really powerful in the U.S. government are helping the corrupters.
For example, see the Rolling Stone article about Goldman Sachs, The Great American Bubble Machine
The documentary movie Inside Job was nominated for an Oscar. It's an excellent movie about the extreme corruption. NOTHING has been done.
Sorry to reply off-topic, but I want to post this as high up as possible:
http://www.mediafire.com/?9gig97gio0g3b7b
Here is the torrent file. BoA seems to be sockpuppet-rushing TPB to mark the torrents as fake.
Provided that he indeed was the source of the leaked material, and it seems likely he was, this is NOT whistle blowing. That would be releasing a specific set of documents relevant to what you are blowing the whistle on. He released everything he got his hands on. Please note some of it is shit like what US diplomats think of foreign leaders. That is nothing that is of any public interest, nor in the slightest illegal/immoral/etc.
Now regardless, he broke the law. Please remember military law is a little different from civilian law. Regardless it is illegal to disseminate classified information you are given access to.
In a case of legit whistle blowing, then perhaps that is a mitigating circumstance (though the UCMJ doesn't really seem to provide an exception, perhaps it should but it doesn't) but in this case no. It was a leak of whatever he could get, without regard for value or harm. That really removes any moral high ground argument.
But I find him no more, and perhaps less, a credible source than the banks. That site is written by Karl Denninger, who is a Tea Partier and Glenn Beck fan. Ok fine, but that does not speak to someone who is very balanced on the issues. That is a hardcore "Gold standard is the ONLY standard," kind of individual and not someone who has a good understanding of the complexities of finance and a balanced view (the phrase "bleeding heart liberals" is a favourite).
You want to sell short. It works like this:
A) Borrow assets (stock in a company) at the current price.
B) Wait a period of time.
C) Return those assets to the original owner at the new current price.
D) Keep the difference (or lose money).
Now, if you are shady, you can do what is called "Naked Short Selling", in which you perform this trick with assets that don't actually exist. This American Life did a great episode called Enforcers - the second half deals with Naked Short Selling and describes the process in detail. TAL has done several fantastic episodes on the financial crisis, well worth the time to give them a listen.
Love sees no species.
I thought it sort of interesting that if you look at the list of Billionaires:
http://www.forbes.com/wealth/billionaires#p_1_s_arank_-1__-1
and look at where they got their money from.
If you look at the USA, and ignore all the Walmart jerks, and software bubbles, a disproportionate amount got their money from "Hedge Funds". Now look around the world, how many others can you find? I think I found one.
These are the same Hedge Funds that bought up (and demanded, and got) all the US real estate debt, causing the whole economic problem. I wonder how many of those guys are hurting? Oh wait, none because they are all billionaires. Also if you look at the names... its the exact same people that came up with the bail out plan etc... talk about conflict of interest and self serving SOB's.
I don't know what's in those leaked e-mails, but this item is just as big - and scandalous,
"GE isn't the only "Top 5" company on this year's Fortune 500 list that owed no income taxes. Bank of America (BAC, Fortune 500), which suffered major losses in 2009, included a tax benefit of $1.9 billion in its annual profit."
http://money.cnn.com/2010/04/16/news/companies/ge_7000_tax_returns/