December 20, 2010
Bank of America Draws the Line

The Associated Press reports:

CHARLOTTE, N.C. — Bank of America Corp. has joined several other financial institutions in refusing to handle payments for WikiLeaks…

“This decision is 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,” the bank said.

Curious as to just how rigorous the Bank of America’s “internal policies” might be, I turned to Google.

Here goes:

Similarly, traffickers used accounts at Bank of America to purchase three planes that ended up smuggling 10 tons of cocaine. “Federal agents caught people who work for Mexican cartels depositing illicit funds in Bank of America accounts in Atlanta, Chicago and Brownsville, Texas, from 2002 to 2009,” the article says.

And here goes again:

Among Bank of America’s 50 million customers, Pierre Falcone was far from ordinary. An infamous global arms dealer who unlawfully sold weapons to Angola for its civil war and an international fugitive, Falcone was convicted of tax fraud and illegal arms dealing in 2007 and 2009 and is currently serving six years behind bars.

Yet for nearly two decades, Falcone and his relatives freely used 29 different bank accounts to funnel at least $60 million into the US from secretive havens like the Cayman Islands, Luxembourg, and Singapore, and from shell corporations and secret clients. Despite his criminal record and worldwide notoriety, Bank of America essentially treated him like any other depositor.

And yet again:

In withering complaints filed in state courts in both states, the attorneys general accused Bank of America of assuring customers that they would not be foreclosed upon while they were seeking loan modifications, only to proceed with foreclosures anyway; of falsely telling customers that they must be in default to obtain a modification; of promising that the modifications would be made permanent if they completed a trial period, only to renege on the deal; and of conjuring up bogus reasons for denying modifications.

BankOfAmerica.jpg

Webding3.jpg

Posted by Jerome Doolittle at December 20, 2010 06:16 PM
Email this entry to:


Your email address:


Message (optional):


Comments

Same applies to Visa, Mastercard, Amazon, PayPal and the Swiss bank PostFinance.

German Ex-Chancellor Helmut Schmidt commented in an interview with ZEIT: "It smells of revenge [against Wikileaks], and that it is."

Without any political influence, of course ... These companies acted entirely upon their own moral standards. Or the lack of.

Posted by: Peter on December 21, 2010 8:18 AM

It is what it is. Loan sharks are all scum, always have been always willl be. The only difference between the mob and Wall Street is Wall Street's muscle is provided by the state. In the form of cops, sheriffs and courts.

Posted by: Aitch Jay on December 21, 2010 10:58 PM
Post a comment
Name:


Email Address:


URL:


Comments:


Remember info?