For weeks Bank of America has been the rumored next target of Wikileaks. Founder Julian Assange, without naming the actual bank, has said he has major revelations to come in the new year that may cause the head of a large U.S. bank to resign.If BofA is indeed the center of the scandal, it's one more potentially huge embarrassment for the beleaguered bank. Interestingly, its shares are up about 18% since the rumors started. The stock also rose Wednesday after false reports that Assange had specifically named BofA as his target.
Whether or not the allegations are as damaging as Assange claims, Wikileaks will likely have an impact on the way corporations conduct business, says Sydney Finkelstein, professor at the Tuck School of Business at Dartmouth. This could mean the beginning of the end of email.
"People say things in emails -- still, even in 2010 -- say things that you know you really shouldn't say," he tells Aaron in this interview. "You're very blunt and you're not careful, you're not guarded."
Wikileaks also highlights the vulnerability of all corporations and governments, no matter how large. "What Julian Assange did, technologically, is not that complicated," he says. "Everyone's got to be concerned about that right now."
It also highlights the failure of journalism in uncovering the biggest stories. Now, whether Wikileaks is journalism or espionage is a valid question.
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