Sunday, December 19, 2010

Bank of America and WikiLeaks

Bank of America announced...that it would stop processing transactions related to WikiLeaks. Why? Well, of course, because BofA doesn't want to be part of illegal activity, that's why. Well, unless they're getting a cut, that is. In the case at hand, they are not only not getting a cut, but are about to be cut and by WikiLeaks itself. Accounting to numerous knowledgable sources, WikiLeaks is sitting on a pile of BofA internal documents showing the bank may have been the biggest banking racketeering enterprise since BCCI.-WikiLeaks Has the Goods on Bank of America, So Bank of America Helps to Try and Shut It Down

Bank of America is a corrupt, bloated, and poorly run organization. They’d be out of business now if not for their easy access to the US Treasury and for their untrammeled access to favors from the Fed and from people like Geithner. But when you have access to the treasury purse, who needs competent management? Following the acquisition of Countrywide, which was itself likely the result of some corrupt agreement with the feds, Bank of America became the largest holder of worthless mortgage loans. Now BofA drives public policy in the mortgage markets with its army of lobbyists, which is partly why we have QE2 and why we’ll probably get QE3 and QE4, so that the money will keep flowing and so that BofA can postpone for just a little longer the day that it will have to admit that it is insolvent.-Ryan W. McMaken

Let's think also about the frees speech implications of the current system of payments, with the banks in charge. If they can cut off anyone they don't like or that their partner in crime, the State, doesn't approve of, it is a serious threat to freedom. The Federal Reserve went after a little bank for having Bible verses displayed, but Bank of American Criminals is given a free pass.

Recently, Bank of America has blocked all payments to WikiLeaks. The reason given officially was, quote, "based upon our reasonable belief that WikiLeaks may be engaged in activities that are, among other things, inconsistent with our internal policies for processing payments.", endquote.
Recently WikiLeaks has stated that it has information that will expose unethical policies at a major US bank, thought to be Bank of America. WikiLeaks has urged all supporters who use Bank of America to close their accounts and use a more reliable bank that will not restrict their movement of funds.

1 comment:

  1. I hate banks. I try to operate on cash as much as I possibly can.


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