Will WikiLeaks Release The Bank Docs Now?

News comes this morning that Julian Assange, the founder and co-editor of WikiLeaks has been arrested in Britain, as it relates to the rape crimes he is charged with committing in Sweden. Assange reportedly surrendered to London's Metropolitan Police, and will supposedly appear in court today. The allegations against the Australian citizen relate to two women whom Assange met in Sweden during the summer, according to reports. WikiLeaks has already come out and said that it will operate as normal tonight, and release cables tonight. What the company didn't say is what cables would be released. WikiLeaks has been adamant that if Assange was executed, that all cables would be released at once. This is a different situation, but one that WikiLeaks has to have known was coming, given the scrutiny Assange has been under recently. WikiLeaks has said that it has enough information on a U.S. based bank to "take down a bank or a two." Many have speculated that the bank is Bank of America BAC. We could see WikiLeaks release the bank documents before the end of the year, given that the documents are ready. This could derail the bull market that we've seen over the past 18 months, depending on how much incriminating information there is on this particular bank. Since we don't know which bank it is exactly, shorting the Financial Select Sector SPDR ETF XLF is really the only way to do profit from this, as once the cables are released, all banks will be hit. We live in interesting times in 2010, and 2011 will continue this run. Disclosure: long C, which is a component of XLF