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WikiLeaks No Match for Bank of America


How Bank of America's ruined reputation makes it impervious to further scandal.

As the WikiLeaks saga continues, all eyes turn to the banking sector.

Bank of America
(BAC) has been singled out as the most likely target of the next leak, leaving many on Wall Street wondering how the bank should handle the potential crisis. So far, the bank has remained mostly quiet on the subject, and perhaps for good reason.

After all, Bank of America has already endured some pretty hefty blows to its reputation over the past few years. Anne Finucane, a Bank of America global marketing officer, even said recently that it's hard to find another company that "has had more leaks."

Which isn't to say its stock hasn't suffered. Year-to-date, Bank of America is down 17%. The Financial Select Sector SPDR (XLF), which includes holdings like JPMorgan (JPM), Citigroup (C), Goldman Sachs (GS), and US Bancorp (USB), is up 7%.

And so, should Bank of America investors be worried about WikiLeaks?

Join Josh Lipton for a closer look.

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No positions in stocks mentioned.
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