A 3% drop in BofA’s share price after everyone more or less decided that the bank in question is Brian Moynihan’s was the catalyst for a team of executives taking action, according to the New York Times.
We already know that one of their methods was to buy up abusive domain names like brianmoynihansucks.com, and that they set up a so-called “SWAT team” to prepare their defenses.
And this is how they’re preparing for the battle:
- Chief risk officer Bruce Thompson is heading up a team of 15 to 20 of the bank’s top dogs that’s undertaking a far-reaching internal probe of thousands of documents.
- They’ve hired consulting firm Booz Allen Hamilton to aid the investigation, and have obviously spoken to several law firms about what might happen if Wikileaks docs reveal private information about their clients.
- CEO Brian Moynihan gets regular updates on the team’s progress.
- They’re looking for missing computers because Assange has previously said he had 5 gigabytes of information (apparently enough to hold more than 200,000 pages of text) on BofA on a hard drive – one of the main reasons the public believes they are the target. So far they’ve found no evidence that Assange does have a hard drive.
- The bank thinks that what is more likely is that if anything, Wikileaks has documents on paper and discs it gave to the SEC during congressional investigation into BofA’s acquisition of Merrill Lynch. They’re also considering documents that could reveal embarrassing details about the Countrywide fiasco.