Wikileaks: It Could Take Down a Bank Or Two
The Market Ticker ® - Commentary on The Capital Markets
Posted 2010-11-29 18:04
by Karl Denninger
in Corruption
Ignore this thread
Wikileaks: It Could Take Down a Bank Or Two
 

Oh oh... now we know why everyone's calling for the government to try to arrest Assange:

So do you have very high impact corporate stuff to release then?

Yes, but maybe not as high impact…I mean, it could take down a bank or two.

...

Will we?

Yes. We have one related to a bank coming up, that’s a megaleak. It’s not as big a scale as the Iraq material, but it’s either tens or hundreds of thousands of documents depending on how you define it.

Is it a U.S. bank?

Yes, it’s a U.S. bank.

One that still exists?

Yes, a big U.S. bank.

The biggest U.S. bank?

No comment.

When will it happen?

Early next year. I won’t say more.

What do you want to be the result of this release?

[Pauses] I’m not sure.

It will give a true and representative insight into how banks behave at the executive level in a way that will stimulate investigations and reforms, I presume. Usually when you get leaks at this level, it’s about one particular case or one particular violation.

For this, there’s only one similar example. It’s like the Enron emails. Why were these so valuable? When Enron collapsed, through court processes, thousands and thousands of emails came out that were internal, and it provided a window into how the whole company was managed. It was all the little decisions that supported the flagrant violations.

This will be like that. Yes, there will be some flagrant violations, unethical practices that will be revealed, but it will also be all the supporting decision-making structures and the internal executive ethos that cames out, and that’s tremendously valuable. Like the Iraq War Logs, yes there were mass casualty incidents that were very newsworthy, but the great value is seeing the full spectrum of the war.

You could call it the ecosystem of corruption. But it’s also all the regular decision making that turns a blind eye to and supports unethical practices: the oversight that’s not done, the priorities of executives, how they think they’re fulfilling their own self-interest. The way they talk about it.

If you were wondering why there's a sudden desire to shut these guys down, after they "leaked" all sorts of information about the Iraq and Afghanistan war - including classified material, which drew nothing other than "outrage" - well, now you know.

They're after some banks.

(Gee Eric Holder, why is it that you can't go after some banks?  I know, it's a rhetorical question and has a simple answer - you and Obama, along with Congress, are too busy blowing their executives.)

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User Info Wikileaks: It Could Take Down a Bank Or Two in forum [Market-Ticker]
Asimov
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Oh, now I'm getting excited... :)

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It's justifiably immoral to deal morally with an immoral entity.
If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente.
Asimov
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Ya know, if it actually brings down a big bank, it's going to cause a ****ing mess. "A bank or two" is probably underestimated quite a bit considering how interdependent the big banks are.

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It's justifiably immoral to deal morally with an immoral entity.
If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente.
Dashingdwl
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Needs to happen before Jan expiry... my xlf puts are flat-lining.

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When you are hard and disciplined, you can be principled. People fear you because they have no leverage against you. It's the truest form of Liberty.
Abn0rmal
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Genesis wrote..
(Gee Eric Holder, why is it that you can't go after some banks?)
I think you misspelled Placeholder.
Snowman
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their bottleneck is getting trusted sources to verify, compile, and recommend course of action. If it were simply to publish, the impact would be easily negated through disinformation. This is not a bulletin board outfit.
Dashingdwl
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And I'll be sorely disappointed if it's some sort of 'news' about MERS, foreclosuregate, empty MBS boxes, etc... 'cause we all know that will get NO traction.

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When you are hard and disciplined, you can be principled. People fear you because they have no leverage against you. It's the truest form of Liberty.
Oddone
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About 10 miles from Genesis
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These folks at WikiLeaks are gonna get themselves killed. When you start playing with international monetary policy as a nonstate actor, and kicking major banks in the nuts hard enough to take a couple of them out is certainly going to have a collateral effect on this, you will incur someone's wrath. Probably multiple, well-armed, very unhappy someones.

Assange needs to avoid a lot of things for a while: crowds, cars, public transportation, tall buildings, food someone else hasn't tasted yet, etc. etc. etc.
Markgoldman
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Wikileaks is an attack against the entire International community, or at least so says Billary. She goes on..."“This disclosure is not just an attack on America's foreign policy interests,” Ms. Clinton said. “It is an attack on the international community: the alliances and partnerships, the conversations and negotiations that safeguard global security and advance economic prosperity.”

“It puts people's lives in danger, threatens our national security and undermines our efforts to work with other countries to solve shared problems,” she told reporters at the State Department."


No **** bitch, we'll get straight to the bottom of it all no matter how shill your pronouncments or who you arrest in the quest to hide The Truth.

Its all coming undone, not quick enough but it IS. I'm getting more optimistic with each passing month, The Truth is simply Too Big To Hide.

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Consent Withdrawn.
Tallystick
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Well well, I just learned of this fact regarding placeHolder.

He was the defense lawyer for Chiquita Banana in the death squad case.

http://www.huffingtonpost.com/dan-kovali....


Antone
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So basically he's now labeled as a "terrorist" and should expect to spend his days held in some Eastern European prison 'indefinitely.'

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As if anything has changed:

Wir sind gefickt.
Snowman
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assange is just a voice. WL is a distributed program, there is no "core" to kill. It's your classic spook operation.
Jeffrey_thomason
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I said this in the other post, but I'll repeat it here. What kind of data set could be considered two different amount of documents, with that amount differing by a factor of ten, "depending on how you" look at it?

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When they turn the pages of history, when these days have passed long ago. Will they read of us with sadness for the seeds that we let grow?
Randy123
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-120 BAC

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China is the Enemy. Wake Up.

New Normal. Same As The Old Awful.
Tallystick
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Were the wikileaks all obtained from the same source? If so it would imply US govt was well aware of whatever this bank related info is.
Steelhead23
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Open letter to Julian Assange: Watch your back, bro. You see, its one thing to announce, in advance, that you are planning to embarrass government officials. It is a pretty broad field and each individual official likely has a low probability of being embarrassed and very little to fear in the form of civil or criminal liability. Now you have taken aim at the "big banks." Of these, there are about 5 - and they are highly intertwined. If one goes down, others would follow. And given that they have collectively defrauded the globe trillions of dollars, their liabilities, civil and criminal, are huge. Hence, their incentives to prevent that leak are quite high. Being as they are bankers, they may offer to pay you off. But since selling such information gets darn close to extortion, I would also advise you to not consider any such offers. Indeed, until you make this information public, you would be well advised to decline every invitation you receive.

Be smart. Say nothing. Then, drop the bomb. Once the information is "out there", your personal risk would decline precipitously, unless of course, someone who is injured by the release seeks revenge. BTW - thanks for your courage. If more Americans had your courage, we would be better off as a country.

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"Give me control of a nation's money and I care not who makes it's laws" —Mayer Amschel Bauer Rothschild Benjamin Bernanke
For-profit commercial banks are a menace and should be eradicated
80286
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Wikileaks can't take down a big bank. Big banks are exempt.
Genesis
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Oh there you're wrong.

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I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?
Snowman
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I hope voice, pictures and video are included. Music too would be nice but not a requirement.
It really doesn't matter to me which of the really biggies are affected because the others will be guilty by association and interbreeding.
Duc888
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Isn't it amazing that Holder is now screaming?

These slimy little maggots hate the light of day.

How cool is it that Obama just signed the largest arms deal in the history of mankind to a country that now officially supports State Terrorism.

I'm really starting to like this wikileaks stuff.


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...burp
Pilot
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This brings me some small modicum of optimism. I agree that if it is one of the biggest banks this won't be just about One banks ethos, it will implicate ALL of them. If this is the way it has to go down, then I'm all for it.

Interesting to see the reaction to this.

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Alas, alas, that great city of Babylon, that mighty city! for in one hour thy judgment come"
Themortgagedude
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Gen - what kind of news could take out a Mega Bank? They've seemed pretty bullet proof considering everyone knows they're broke. It seems that the only reason anyone is invested in them is because it is assumed they have a get out of jail free card.

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I'm already visualizing you with duct tape over your mouth.
Duc888
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From ZeroHedge:

Quote:
As for Assange's reason for coming to public with the bank exposition:

What do you want to be the result of this release?

[Pauses] I’m not sure.

It will give a true and representative insight into how banks behave at the executive level in a way that will stimulate investigations and reforms, I presume. Usually when you get leaks at this level, it’s about one particular case or one particular violation.

For this, there’s only one similar example. It’s like the Enron emails. Why were these so valuable? When Enron collapsed, through court processes, thousands and thousands of emails came out that were internal, and it provided a window into how the whole company was managed. It was all the little decisions that supported the flagrant violations.

This will be like that. Yes, there will be some flagrant violations, unethical practices that will be revealed, but it will also be all the supporting decision-making structures and the internal executive ethos that cames out, and that’s tremendously valuable. Like the Iraq War Logs, yes there were mass casualty incidents that were very newsworthy, but the great value is seeing the full spectrum of the war.

You could call it the ecosystem of corruption. But it’s also all the regular decision making that turns a blind eye to and supports unethical practices: the oversight that’s not done, the priorities of executives, how they think they’re fulfilling their own self-interest. But it’s also all the regular decision making that turns a blind eye to and supports unethical practices: the oversight that’s not done, the priorities of executives, how they think they’re fulfilling their own self-interest. The way they talk about it.

While we refuse to pass judgment on Assange's character, and his motivations, it appears that he may have finally figured out that to enact change in a country, you have to go not after the politicians or even the military industrial complex. After all both of those are puppets for the moneyed interests. One has to go after the very heart of the financial oligarchy. Money always has made the world go round, never more so than in the US currently. Perhaps Assange can redeem himself of all attacks on his persona if he does succeed in disclosing something that is beyond mere watercooler talk and actually leads to at least one major prosecution. After all, the US' own regulatory and enforcement mechanisms are corrupt beyond repair, and completely unable to do so on their own...



http://www.zerohedge.com/article/wikilea....





NNNNNIIIICCCCEEEEEEEEEE. :)

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...burp

Gator
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The people who gave him classified information, should be strung up.

However, the bank documents, and other docs of this sort, I think fall in the category of whistle-blowing.

I do have mixed feelings about Wikileaks releasing government classified information, though.
Hihoherewego
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Oh hell.

ASSpang really screwed the pooch on this one. And the pooch is not happy.

All manner and form of shizen could be flying around here shortly under this gambit.

Let's see........hundreds of thousands of documents. Yeah, this could take awhile to get buried as usual. The corpse involved here could well exceed the size of the current burial site as it were.

.............................
http://www.usdebtclock.org/

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