Bank Of America Will Protect This House

Publish date:

Earlier this week, WikiLeaks founder Julian Assange casually mentioned that his next target will be "a large US bank," with a dump so damning it could "take down" a firm "or two." As we and other have pointed out, it's difficult to conceive of any documents Mr. Assange could leak that would "expose" or even embarrass BAC (or whatever US bank he's going after) in a way that it hasn't already embarrassed itself and lived to tell the tale. And on Tuesday, executives said they didn't have any "indication," they were the target. Still, though, you can never be too careful when it comes to Mr. Dribbles, which is why the bank has apparently distributed .44 Magnums to its legal team.

[via BI]


Layoffs Watch '12: Bank Of America Australia

The House of Moynihan has said goodbye to a bunch of employees down under. Bank of America Merrill Lynch has begun a new round of job cuts in Australia, a person familiar with the matter told Deal Journal Australia, becoming the latest investment bank to cut costs amid light deal flow and sluggish equity markets due to the stuttering global economic recovery. Fewer than 10 staff from the bank’s equities sales and trading division have been let go, the person said, without elaborating further. Bank of America Merrill Lynch Cuts Staff in Australia [Deal Journal]