bank of america stocks react to WikiLeaks' potential data dump, but sources deny any leaks. Stock market speculation moves prices.
Transcript
American. This just in breaking news. First we have breaking news right now on WikiLeaks. It has nothing to do with the confidential diplomatic cables. It has everything to do with WikiLeaks saying that it will show off a bunch of documents that could quote blow up a bank. Is it Bank of America? Charlie Gasporeno has new information now. Well all the bank stocks are off today. Bank of America is off. Dick Bove put out a note today saying that the leading of Bank of America is all the speculation has been that this massive data dump that WikiLeaks going to do on a bank is Bank of America. I believe Julian Assange had a WikiLeaks. It actually named Bank of America in an interview about a year ago. But sources close to Bank of America tell the Fox Business Network that the bank has no indication right now. No indication right now. This is after a year, at least, of speculation of this type. No indication right now that it is the target of WikiLeaks. That WikiLeaks has any information on it and that it's ready to announce it. At least that's what we're getting from sources. Very close to the bank. You can infer. Who's telling me that? Anyway you want. I don't go on the air with something like this unless I'm hearing it from. It's a very well-placed source. Yes. Very close to Bank. So let's back it up just a bit because right now Bank of America is down 1.7%. Right. WikiLeaks coming out and saying a couple of days ago that their next data dump is going to be on a bank and that basically will destroy the bank of what we find out. Then we realized a couple of years ago or last years you noted that the founder WikiLeaks had given an interview to I think it was a computer world. Right. Or he said somebody gave me a five-gig hard drive full of Bank of America data. It was a waiting for it. So it's a natural speculation. What is he waiting for? I mean, you know, I mean, they really did just release the diplomatic right. No, I know. I was got all this stuff on the agenda, I guess. But I'm saying that it's been a year. Bank of America is a big bank with a big compliance department. You would think that if it was them that they know by now. So I'm not dispelling it. I'm just going to five gig hard drive with sensitive information. That suddenly goes on. Yes. I mean, I think one would hope they would. Listen, this is important because if you invest in Bank stocks. I mean, why are we talking about this? Because if you invest in any of the big banks, this is having an impact on stock prices today. And you're going to have to weigh what's you're going to have to weigh doing bits of information. And what we're giving you right now, what we try to do with the Fox Business Network is basically try to tell you what's happening now. I can't tell you what to invest in, what to sell, what to buy. But right now, sources very close to the bank is saying they have no indication. Now, those are those interesting that that it's them. Now, those are interesting words. That was over the words I was told to use. No indication doesn't mean it'll never happen. No indication means that it's off the radar screen. No indication means at this point right now. And it's a specific term that it's not. It could still end up being them. But I'm saying, what's interesting about this story is that it is moving the stocks. Of course, you have, you have, you wonder what they have or what Ricky leaks thinks it had. What, you know, listen, it's initial data dump on, on, on, on, early in the year, right? They did a big date. They did something on the, on the war, the war in terror. Really didn't amount to much. You know, it didn't, it didn't cause that much of a start. It's latest data dump, cause they're huge stir. You know, you don't know what they have here. It's, it'll be interesting because Bank of America is involved, you know, it's a huge conglomerate bank, you know, and just to, just to help people what it does, it has sales trading in a, it buy, creates mortgage back security. It sells mortgages on the other side. So this is, I mean, if you want to think potentially, this could be huge. It also purchased countrywide. We know that conflict wide was full of a lot of prop, you know, you wonder what they might have, and what could do more damage than what we already think of. And since you're in a vestee, you should know all the downside, they're involved in this massive robocining thing. One of the leading robociners, we're, you know, Bank of America's right in the middle of that, where they had the, where they denied people in foreclosures due process by creating these assembly line of people just stamp in foreclosures without looking at the documents and legally vetting them. They're in the middle of that. They're also in the middle of the fact that Bank of America put together mortgage back securities, right? That are sold to third party investors, like black rock, which it owns a piece of like the Fed, which bought, which holds mortgage back securities. They also have, they call it a, they call it a, apparently deals with the public of some sort, but no, but this, this mortgage back thing is interesting because the Fed and that black rock are right now threatening to put some of that back. So there's a lot of ways to look at it, but I can tell you right now sources posted, Bank said no indication of the police said, well, we are going to watch Bank of America, one of the leading dogs of the down right now, but it has come up a couple cents since she came on here. So we're going to watch, but you just came on. It's me. They love my face. The trade is love my face. Is that true right now, sorry, oh my God.