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Old 12-18-2010, 10:39 AM
 
89 posts, read 131,330 times
Reputation: 93

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The article attached below suggests that Wikileaks is going to produce data saying that it is unsafe to bank at BofA. People and businesses should close their accounts and move elsewhere. Whether it is true or not, IMO it can't be good for the bank to engaging in a public war with Wikileaks. If there is nothing to it, then ignore it. This just after the state of Arizona announced it is suing the bank for fraud and accuses the bank of "Consistently Misleading Consumers". Edit: Nevada has joined with Arizona claiming "Widespread Fraud" according to the NYT.

IMO, though I don't give to any of these kinds of sites, I don't want my bank to dictate who I can write a check to. It's none of their business.

In either case, it stands to be a big can of "not good" for BofA.

No acknowledgment of Charlotte in the article.

After BofA Escalates, Refuses To Process Wikileaks' Payments, Wiki Retaliates, Advises Americans To Put Their Money "Somewhere Safer" | zero hedge

Last edited by LazarusLong; 12-18-2010 at 10:58 AM..
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Old 12-18-2010, 12:04 PM
 
Location: Mint Hill, NC
769 posts, read 2,079,801 times
Reputation: 459
This isn't in support of either Wikileaks or Bank of America, but this article is incredibly poor journalism. The hyperbole is astounding.

The actions of BofA have no bearing on weakening or strengthening 1st Amendment rights. I hate to break it to the author of this article, but 1st Amendment rights only say that the government may not make laws that interfere with the public's right to meet and speak freely - not a commercial enterprise. Commercial enterprises choose on a constant basis who can and can't participate in their services - approving or denying loans, accounts, credit cards, etc. BofA has simply chosen not to do business with Wikileaks - but I find this to be rather hilarious - Wikileaks says don't do business with BofA, but they kept doing business with BofA until the bank turned them off??? Hypocritical, much?
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Old 12-18-2010, 12:11 PM
 
Location: Near the water
8,229 posts, read 12,424,685 times
Reputation: 3893
A bank has no rights to tell a customer to whom they can give their money to.
As I understand it, WL didn't do business with bofa, this was about bofa processing
payments from customers who wanted to donate to them.

Let us not forget that bofa opened accounts for illegals.....
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Old 12-18-2010, 12:39 PM
 
Location: Mint Hill, NC
769 posts, read 2,079,801 times
Reputation: 459
Actually, a bank has a legal requirement to exercise discretion in processing payments, opening accounts, etc. It wasn't too long ago that there was a huge uproar and lawsuits because Wachovia had processed payments that were for "dubious" transactions and companies. Whether or not BofA is justified in its actions remains to be seen.
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Old 12-18-2010, 12:43 PM
 
Location: Near the water
8,229 posts, read 12,424,685 times
Reputation: 3893
Quote:
Originally Posted by ellemaew View Post
Actually, a bank has a legal requirement to exercise discretion in processing payments, opening accounts, etc. It wasn't too long ago that there was a huge uproar and lawsuits because Wachovia had processed payments that were for "dubious" transactions and companies. Whether or not BofA is justified in its actions remains to be seen.

Telling the truth, being a whistle blower if that is what one wants to call it does not make a company/entity "dubious". I am sure that bofa funnels enough cash knowingly or not to those who they should not be. But I believe in this case bofa knows this guy has something on him and they are tiffed about it.

It hard to not pay on a customers transaction when they themselves have broken the very "rule" they are claiming. The whole outfit is scum IMO.
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Old 12-18-2010, 02:27 PM
 
Location: Greer
2,003 posts, read 2,380,892 times
Reputation: 1511
Quote:
Originally Posted by ellemaew View Post
The actions of BofA have no bearing on weakening or strengthening 1st Amendment rights. I hate to break it to the author of this article, but 1st Amendment rights only say that the government may not make laws that interfere with the public's right to meet and speak freely - not a commercial enterprise. Commercial enterprises choose on a constant basis who can and can't participate in their services - approving or denying loans, accounts, credit cards, etc. BofA has simply chosen not to do business with Wikileaks - but I find this to be rather hilarious - Wikileaks says don't do business with BofA, but they kept doing business with BofA until the bank turned them off??? Hypocritical, much?
When the government applies pressure to multiple influential private companies to take action against someone based on their speech, and those private companies all do the government's bidding, it goes against the spirit of the First Amendment if not the letter.
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Old 12-18-2010, 07:59 PM
 
Location: The 12th State
22,974 posts, read 61,667,541 times
Reputation: 15007
moderator note http://i167.photobucket.com/albums/u158/joglynne/Christmas/santa_smiley.gif (broken link)
Thread relocated from Charlotte forum
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