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The financial system is today bracing itself for a fresh scandal after WikiLeaks founder Julian Assange revealed the next target of his whistle-blowing website will be a major U.S. bank.
Assange – the man behind the diplomatic dossier which this week rocked the Obama administration – did not say which bank will be exposed or when it will happen, but compared the information contained in the documents with the Enron scandal.
‘It 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,’ he told Forbes magazine.
‘You could call it the ecosystem of corruption,’ Assange added.
‘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.
He promised tens of thousands of documents from a major U.S. financial firm will hit the web sometime in early 2011.
‘It’s not as big a scale as the Iraq material, but it’s either tens or hundreds of thousands of documents depending on how you define it.’
He would not name the firm but called it a ‘big U.S. bank.’
The dump will be similar, he says, to how Enron was exposed as criminal.
‘It’s like the Enron emails. 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,’ he explained to Forbes.
‘It was all the little decisions that supported the flagrant violations.’
But he backed away from calling the bank’s actions criminal.
‘All I can say is 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.’
Meanwhile the American government has launched a frantic damage-control exercise in the wake of the most recent document dump.
Secret state department cables were released by the whistleblowing website this week.
Assange has been criticized for targeting the US government and military with WikiLeaks, but he says ihe just posts what he gets.
‘People say, why don’t you release more leaks from the Taliban. So I say hey, help us, tell more Taliban dissidents about us,’ he told Forbes.
The anti-American criticism comes as the Obama administration opens a criminal investigation into Assange for espionage.
Julian Assange may back away from calling the bank’s actions as criminal but I won’t. All the major banks are criminally stealing from their fellow man, destroying families and this country, and I would put my money on JPMorgan Chase Bank as being the bank that these documents originated from. Either way, whatever bank, hopefully the documents will shed light on the continued abuse by the big banks and help families.