From Operation LeakS' site, http://bankofamericasuck.com, here is the initial release of what appears to be a whistleblower's (former employee) disclosure that Brian Moynihan's firm is lying to the Federal government. The punchline is that this appears to be a concerted effort from the ground up to hide foreclosure data from auditors and the Fed in order to obtain select preferential treatment in a variety of housing related axes, in many instances to accelerate foreclosures. As the whistleblower summarizes: "Balboa Insurance/Countrywide knowingly hiding foreclosure information from federal auditors during the federal takeovers of IndyMac Federal (a subsidiary of OneWest) and Aurora Loan Services (a subsidiary of Lehman Bros Holdings), falsifying loan documentation in order to proceed with foreclosures by fixing letter cycles in the system, reporting incorrect volumes to all of their lenders and to the federal auditors to avoid fines for falling behind on Loan Modifications, purposefully and knowingly adjusting premiums for REO insurance for their corporate clients while denying forebearances for individual borrowers, etc, etc, etc. In addition, if anyone can get me a copy of the image of the hard drive that Jullian Assange reportedly has from the BofA executive, it will not take a dozen financial analysis to decipher it like I've read in the news. I could find all the dirt on that hard drive within a week." We'll see if Assange steps up. In the meantime we expect Brian Moynihan, or rather Ken Lewis who was in control back then, to pull a Dick Fuld and tell a Congressional hearing he had no idea any of this was happening, leading to the termination of some mid-level employee, notably the person who invalidated the following concerns: "I'm just a little concerned about the impact this has on the department and company. Why are we removing all record of this error?... There is always going to be the paper trail when one of these sent documents come back, this to me, seems to be a huge red flag for the auditors...This just doesn't seem right to me." That's ok - it will most certainly seem right to everyone in "law enforcement."
The reason why the whistleblower is stepping up: