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Old 03-14-2011, 07:58 AM
 
Location: Union County
5,783 posts, read 8,410,081 times
Reputation: 4818

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So Assange (Wikileaks) never released the hard drive he has from a BofA executive - getting him locked up probably took care of that.

But apparently that didn't stop this whistle blower from coming forward.

Quote:
From Operation LeakS' site, http://bankofamericasuck.com, here is the initial release of what appears to be a whistleblower's (former employee) disclosure that Brian Moynihan's firm is lying to the Federal government.
"Operation LeakS" Releases Initial BofA Emails Indicating Premeditated Intent To Deceive Government And Auditors | zero hedge
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Old 03-14-2011, 08:26 AM
 
Location: Greer
1,608 posts, read 2,018,633 times
Reputation: 1115
Abuse and fraud by banks is not good for Charlotte. Shedding light on abuse and fraud is good for everyone but the guilty parties.
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Old 03-14-2011, 01:05 PM
 
Location: Mint Hill, NC
769 posts, read 1,980,157 times
Reputation: 450
I honestly don't see anything illegal here. Someone suggested an action, and one of the "higher ups" whose approval was needed said it would cause problems - standard operating procedure. Nowhere do I see that the action was approved or taken - not saying it wasn't, but there is nothing in this email chain to indicate they actually did anything illegal, or that it was being done with intent. The guy even says "it doesn't seem right to me". It will take a lot more than this to cause BofA any real pain.
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Old 03-15-2011, 08:35 AM
 
Location: NC
6,032 posts, read 7,528,222 times
Reputation: 6350
Quote:
Originally Posted by ellemaew View Post
I honestly don't see anything illegal here. Someone suggested an action, and one of the "higher ups" whose approval was needed said it would cause problems - standard operating procedure. Nowhere do I see that the action was approved or taken - not saying it wasn't, but there is nothing in this email chain to indicate they actually did anything illegal, or that it was being done with intent. The guy even says "it doesn't seem right to me". It will take a lot more than this to cause BofA any real pain.
I guess it is perfectly legal to deceive and hide information on faulty loan documents from your INDEPENDENT AUDITORS and the FDIC/SEC.... The timeframe for this is around the 50 state foreclosure settlement deal and BOA was trying to deceive...... and had intent.... sounds like Fraud to me.
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Old 03-15-2011, 12:31 PM
 
Location: Charlotte, NC
4,760 posts, read 6,407,764 times
Reputation: 5236
If I recieved an email like that on a server where it may be saved, you can bet your butt I'd say something like that. Its simple CYA.
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Old 03-15-2011, 06:41 PM
 
1,661 posts, read 2,785,214 times
Reputation: 549
Consumer Report's, "Consumerist" website has started it's yearly poll looking for the worst company in America. So far, BofA, the 2008 winner, is taking an early lead by destroying Citibank. I'm sure the folks on N. Tryon are proud of the fine institution they are running.

You can vote here.

Worst Company In America Round One: Bank Of America Vs. Citi - The Consumerist
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Old 03-16-2011, 07:24 AM
 
Location: Mint Hill, NC
769 posts, read 1,980,157 times
Reputation: 450
Quote:
Originally Posted by Suncc49 View Post
I guess it is perfectly legal to deceive and hide information on faulty loan documents from your INDEPENDENT AUDITORS and the FDIC/SEC.... The timeframe for this is around the 50 state foreclosure settlement deal and BOA was trying to deceive...... and had intent.... sounds like Fraud to me.
Nowhere did I say the banks are blameless - I simply stated that this email thread - or the portion shared, anyhow, is a long, long way from even remotely proving illegal activities or intent to perform illegal activities.
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Old 03-16-2011, 08:30 AM
 
Location: NC
6,032 posts, read 7,528,222 times
Reputation: 6350
Quote:
Originally Posted by ellemaew View Post
Nowhere did I say the banks are blameless - I simply stated that this email thread - or the portion shared, anyhow, is a long, long way from even remotely proving illegal activities or intent to perform illegal activities.
I would say that intentionally deceiving your auditors/ bank examiners is at the very least a criminal act under sarbanes ......
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Old 03-16-2011, 03:28 PM
 
Location: Mint Hill, NC
769 posts, read 1,980,157 times
Reputation: 450
Quote:
Originally Posted by Suncc49 View Post
I would say that intentionally deceiving your auditors/ bank examiners is at the very least a criminal act under sarbanes ......
The email thread posted doesn't prove intention, regardless of the law cited. Yes, that action is illegal, these emails do not prove that action was done. At most, they indicate it was a consideration in the discussion, and that is not illegal - in fact a lot of could-be illegal actions are discussed in many settings, that does not make the discussion illegal. In fact, those types of discussions are often necessary since most people don't know all the refinements necessary to comply with those regulations, which is why companies hire experts to advise them of those things, which they would have to discuss.

But anyway, I'm done.
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