[gnso-acc-sgb] Where were the bank regulators? - Lawyers Seek Class Action Status for Suit Against Bank of America

[Jeff Williams <jwkckid1@xxxxxxxxxxxxx>]

All sgb members,

  I wonder where were the bank regulators in this huge banking
debacle?  At least an arrest was made, but only after the damage
was done.  Seems the technical security acumen of BoA is significantly
lacking and the regulators were either absent, which is likely,
or also lacked the necessary technical security acumen to do reasonable
enforcment, or the bank regulators didn't follow proceedure.

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Lawyers Seek Class Action Status for Suit Against Bank of America
(September 2006) A law firm has filed a complaint against Bank of 
America on behalf of a New Jersey resident whose personal data were 
stolen.  The lawyers plan to seek class action status for the suit.  
In May, 2005, nine people were arrested for selling the financial 
account information of more than 676,000 individuals; Bank of 
America customers were among those affected.
http://www.pralaw.com/ourfirm/news.asp?article=55

Regards,

--
Jeffrey A. Williams
Spokesman for INEGroup LLA. - (Over 134k members/stakeholders strong!)
"Obedience of the law is the greatest freedom" -
   Abraham Lincoln

"Credit should go with the performance of duty and not with what is
very often the accident of glory" - Theodore Roosevelt

"If the probability be called P; the injury, L; and the burden, B;
liability depends upon whether B is less than L multiplied by
P: i.e., whether B is less than PL."
United States v. Carroll Towing  (159 F.2d 169 [2d Cir. 1947]
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