Major US bank next in line for WikiLeaks

Major US bank next in line for WikiLeaks

A major US bank is set to be the next target for WikiLeaks, with tens of thousands of documents released early next year, the whistle blowing Web site's founder Julian Assange has told Forbes.

In an interview with Forbes, conducted just before WikiLeaks released the US embassy cables, Assange says the site has a "megaleak" with "either tens or hundreds of thousands of documents depending on how you define it" on a "big US bank".

The release "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".

Assange compares the leak to Enron. "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."

He says the bank documents will show a similar a pattern. "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 comes out, and that's tremendously valuable."

He continues: "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."

Assange claims the documents show that "it's clear there were unethical practices, but it's too early to suggest there's criminality. We have to be careful about applying criminal labels to people until we're very sure."

After high profile government-related leaks, the expected bank disclosure is set to be the just the beginning of an assault on business. Assange says WiliLeaks has information on firms in the energy and pharmaceutical industries but "of the commercial sectors we've covered, finance is the most significant".

An Interview With WikiLeaks' Julian Assange - Forbes

Comments: (4)

Elizabeth Lumley
Elizabeth Lumley - Girl, Disrupted - Crayford 30 November, 2010, 11:00Be the first to give this comment the thumbs up 0 likes

Who wants to place a bet that it's Goldman Sachs?

Sriram Natarajan
Sriram Natarajan - Credit Risk Fraud Cards Professional - Gurgaon 30 November, 2010, 11:03Be the first to give this comment the thumbs up 0 likes

I vote its Citibank!

Jan-Olof Brunila
Jan-Olof Brunila - Swedbank - Stockholm 01 December, 2010, 07:26Be the first to give this comment the thumbs up 0 likes

What is the fuss about wikileaks. The content so far is pretty obvious to everybody. In the Iraqi war leaks it is revealed that potential enemies are unjustly shot dead or tortured in interrogations, civilians killed out of negligence and so on. All this is appaling and regrettable but expected since it is a war and wars are never according to legal rules or conventions and the winning party official information is never  the unbiased thruth. No award winning revelations there. The same thing with the diplomatic secrets - it does not take a high IQ to figure out that Saudi has asked USA to snuff their prime enemy Iran or that officials have degrading comments on the Italy president Berlusconi and Libya leader Khadaffi due to their own public behaviour. Also the info has been in reach of thousands if not millions officials and therefore it does not qualify as secret even if it is not published in the media.  What can we expect from banking sector "secrets": Banks want to maximise profit also at the expense of tax payers given the possibility? Bank executives have comments on the qualities of opponents and civil servants? It is more about embarrassing gossips than true secrets so far. And where are the revelations of North Korea, China, Venezuela, Cuba? Is wikileaks biased?

Elizabeth Lumley
Elizabeth Lumley - Girl, Disrupted - Crayford 01 December, 2010, 11:07Be the first to give this comment the thumbs up 0 likes

Computer World (and Twitter) are saying the Bank is Bank of America. 

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