Anyone Else On The Edge Of Their Seat Til Monday?

March 13th, 2011 by alyx · 4 Comments · breaking news

So is it really a black Monday for Bank of America? I know, I know, the whole Wikileaks thing seems so three-months-ago by now, but there were rumors flying around that they had some dirt on $BAC, and then nothing really ever came of it. Now, Anonymous – that fun-lovin’ bunch of hacker activists best known for taking on Scientology (I hear they like mudkips, too, but haven’t confirmed – and if you’re really not familiar with them, the ‘/b/’ in the image above is a reference to one of their messageboards) has led the Internets to believe they have something on Bank of America, as well. Something about their loan documentation being (intentionally) crap.

One of their legion has been posting teasers on Twitter @OperationLeaks:

“i seen some of the emails…i can tell you Grade A Fraud in its purest form….”

“He Just told me he have GMAC emails showing BoA order to mix loan numbers to not match it’s Documents.. to foreclose on Americans.. Shame”

“Example: say your loan # is 3335423 same as on your documents.. they change the loan # in their database and say we don’t have your note..”

The most recent demand is amazing in the ramifications it would have…

“Release Pfc. Bradley Manning and I will remove every #BoA Employee from the Emails.”

Pfc. Bradley Manning is, of course, the man in jail for allegedly downloading military secrets to a blank CD with a “LADY GAGA” label on it and providing it to Wikileaks. So the thought of asking the US Government if it would be willing to trade his release for protection for some bankers is… well… okay, it’s not at all surprising.

And… here’s the leak, yo: http://bankofamericasuck.com/03/13/ex-bank-of-ameica-employee-can-prove-mortgage-fraud-part-1

Things to note:

- The summary of the allegations involves – we think – hiding foreclosure info from federal auditors during the takeovers of IndyMac and Aurora, falsifying loan docs, reporting false info so as to not be fined for falling behind on loan modifications, and giving corporate clients a break on REO insurance but not individual borrowers. It’s 1:30am, feel free to leave a correction in the comments if I’m incorrect.

- Balboa Insurance is no relation to Rocky Balboa, we assume.

- I think my favorite line in the exchange is “I’m just a little concerned about the impact this has on the department and company. Why are we removing all record of this error?” Deleting everything isn’t the best business practice? O RLY YOU DON’T SAY

- The date is November 2010, so this wasn’t the work of Kennay, after all. (Harumph.)

4 Comments so far ↓

  • Jason

    So much for rules 1 and 2. I forsee another C&D in our future.

  • 5klp471

    Along with the expected meltdown with Japan? ….Oh, man… If this is true, AND I HOPE IT IS, Monday is going to be very black indeed.

    The love of money is the root of all evil.

  • alyx

    I’ll be honest – this is not quite the donkey show I was expecting.

  • fatcity

    I was disappointed too. I think we have been conditioned to the extent that we now have rather high expectations for fraud. Forced insurance? meh.

Leave a Comment