Last modified: 7:58 AM Saturday, 14 January 2017

Bank of Amorality?

Joining a list of banks and other financial-services corporations that includes Paypal, MasterCard and Visa, Bank of America has decided, for reasons not particularly explained in its public explanation, to refuse to process transactions for WikiLeaks. Like the others, it is therefore now the target of a global boycott.

Bank of America won't process payments to WikiLeaks

Bank of America won’t process payments to WikiLeaks.
[ Image Source: Unknown ]

Now the world awaits the truth: Did these companies act against WikiLeaks only because of governmental pressure, or is it a matter of their executives’ principled objections to the release of government secrets, or were they really acting pre-emptively because they anticipated WikiLeaks’ coming release of compromising information about their own misdeeds? I for one predict damning revelations that will send the entire metanational industry — already under a cloud of ignominy thanks to its numerous ethical peccadilloes, which are in large part to blame for the current global recession — into an irremediable if gradual tailspin.

Meanwhile, if you have money at BofA, this would be a good time to switch to a local credit union. To do so is wise for reasons of personal financial security in any case; this will merely be, for many account-holders, the final motivation to get out. After the upcoming disclosures, BofA stock is likely to lose still more value, and the company will start finding ways to regain profitability at the expense of its remaining customers.

Originally published as a review of a Guardian article on Bank of America’s refusal to process payments to WikiLeaks.

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