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Wikileaks Exposes All Firms and Could Spell the End of Email, Says Dartmouth Professor

Posted Dec 23, 2010 10:11am EST by Peter Gorenstein in Media, Information Technology, Banking

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.

246 comments

  • A Yahoo! User
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    A Yahoo! User Wed Dec 29, 2010 11:17 pm EST Report Abuse
    Wikileaks is a phony George Soros media creation. (Yawn.)
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    K Wed Dec 29, 2010 03:38 pm EST Report Abuse
    Any information transmitted electronically on any network is recorded and leaves a trace forever. Only Pollyanna still believes that a phone call or email or fax or SMS or tweet or just browsing the internet is not recorded. Event this message will exist forever. :)))) Freedom of speech is for everyone - right?
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    gman Wed Dec 29, 2010 11:38 am EST Report Abuse
    That countrywide was a bad aquisition is unwise, in fact, the opposite, I predict, will be true--if your focus isn't only three weeks out. In three hundred weeks it will make BOA trade at 300% of where it is now...
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    atl9pd Wed Dec 29, 2010 10:41 am EST Report Abuse
    ken Lewis the former head of BoA is the target most likely. I doubt it hurts BoA other than embarrass the company. Ken Lewis has proven to be an idiot. He bought countrywide, the very purchase that is destroying the whole business of BoA. He probably knew how bad the countrywide balance sheets were, and was told and likely in email, but was blinded by his own legacy of being No 1 and ignored the worst case - or the likely case --- and sound advice -- a very bad decision for a banker.
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    bierterrasse Wed Dec 29, 2010 06:35 am EST Report Abuse
    "Now, whether Wikileaks is journalism or espionage is a valid question." . . . Is videotaping someone going to the men's room in Grand Central Station journalism or espionage? Is continuing to insist on the existence of weapons of mass destruction in Iraq journalism or espionage? Is increasing the retail price of a product by one-third and decreasing the size of the package content by one-half journalism or espionage? Is making contact with employees of competitors and holding the information gathered as confidential journalism or espionage? Is Congress voting themselves a 10% pay raise every year journalism or espionage? Is tunnel vision a form of dementia?
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    Tonyynot Tue Dec 28, 2010 04:53 pm EST Report Abuse
    Daniel Ellsberg and Wikileaks both practice censorship to an even greater extreme than most of the organisations they criticize for doing the same. I intentionally posted a very reasonable opinion on the Ellsberg site, it was posted for a short time, about an hour, and then got pulled. I think the lack of extremism in my somewhat dissenting view scared them even more than a stronger dissenting view, so they pulled it. Wikileaks too, posts narrow subject matter; for example why is there no leaks on abortion clinics practices? Probably because this is a practise they don't want to defame or cause anyone to question, it wouldn't fit in with their left wing politics.
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    Broke Tue Dec 28, 2010 03:56 pm EST Report Abuse
    I thought whisle blowers were held to a higher standard by the Federal government :-) Now that the FED has fallen under their own spell they don't like it so much. They were outdone by a gay shoulder who decided to TELL :-)
    If this happened to corporate american this guy would be protected by the government. Just goes to show that the Fed and the IRS are both above the law.
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    Broke Tue Dec 28, 2010 03:52 pm EST Report Abuse
    What is wrong ? The Feds got caught with their pants down, again?
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    Broke Tue Dec 28, 2010 03:51 pm EST Report Abuse
    The end of email? And just when the FCC wanted to start overseeing and screwing up that means of communication also :-)
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    Lenn( Tue Dec 28, 2010 01:04 pm EST Report Abuse
    Mr Finklestein asks - Why haven't we seen this in the news? In the media. GREAT question. Maybe it would be contrary to corporate needs. Do ya think the owners of the media might also be stakeholders in the companies being spared the reporting.

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