WikiLeaks chief Julian Assange, the controversial data dumper behind "cablegate," has already signaled his next target: Wall Street. In an interview with Forbes, Assange says that early next year, he will expose corruption at "a big U.S. bank," in a "megaleak" that "could take down a bank or two." Although Assange declined to be more specific, speculation is swirling around Bank of America. After the chaos WikiLeaks wreaked in diplomatic circles, should the largest U.S. bank, or Wall Street as a whole, "start panicking"? (Watch a CNBC discussion about the rumors)
How much worse can Assange make Wall Street look? Could WikiLeaks really topple a big U.S. bank? "Probably not," says Halah Touryalai in Forbes. At worst it could temporarily "drive down the stock price of the bank in play" — a consequence that Bank of America is already dealing with, based on the early speculation. Even if the U.S. were willing to let a large bank fail, what secrets could Assange reveal that two years of intense media and legal scrutiny have failed to unearth already?
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
Join more than 350,000 subscribers and keep yourself informed with a selection of The Week’s most interesting, enlightening and entertaining stories - plus daily puzzles.
Join more than 350,000 subscribers and keep yourself informed with a selection of The Week’s most interesting, enlightening and entertaining stories - plus daily puzzles.