Anthony Wing Kosner
Forbes
October 27, 2012
South Carolina Governor Nikki Haley announced Friday that, “This is not a good day for South Carolina.” The bad news was having to admit a massive security breach in the State’s Department of Revenue that resulted in the theft of 3.6 million social security numbers and 387,000 credit/debit card numbers (only 16,000 of which, it is believed, were unencrypted,) This incident affects more than three-quarters of [...]
Hackers linked to China’s government broke into one of the U.S. government’s most sensitive computer networks, breaching a system used by the White House Military Office for nuclear commands, according to defense and intelligence officials familiar with the incident.
One official said the cyber breach was one of Beijing’s most brazen cyber attacks against the United States and highlights a failure of the Obama administration to press China on its persistent [...]
From a speech by Fed Governor tarullo last week, that you can read at http://www.federalreserve.gov/newsevents/speech/tarullo20120612a.htm
“the risk of runs on money market mutual funds should be further reduced through additional measures to address the structural vulnerabilities that have persisted even after the measures taken by the SEC in 2010 to improve the resilience of those funds. The SEC is currently considering several possible reforms, including a floating net asset value, capital [...]
– Losses in mortgages, corporate loans not addressed with new provisioning rules, Moody’s says
– Banks detail impact of new provisioning rules, with Bankia, Popular among the most hit
– ECB bank borrowing data, weak T-bill auction adds to worries
– Stocks fall sharply, led by banks, while bond yields rise
(Adds result of T-bill auction, analyst comment and market reaction from paragraph 6.)
MADRID (Dow Jones)–Spanish banks will remain vulnerable to rising loan delinquencies [...]
From FT:
Moody’s has warned that the tendency of global banks to avoid new capital requirement rules and load up on debt will continue to put pressure on their creditworthiness.
The credit rating agency announced it was placing 17 banks on review for a downgrade earlier this year, citing “vulnerabilities” in the companies’ vast and volatile capital markets businesses.
***KEEP YOUR EYES ON MORGAN STANLEY****
Va. middle-schoolers assigned opposition research on GOP candidates
Excerpt:
A Virginia middle school teacher recently forced his students to support President Barack Obama’s re-election campaign by conducting opposition research in class against the Republican presidential candidates.
The 8th grade students, who attend Liberty Middle School in Fairfax County, were required to seek out the vulnerabilities of Republican presidential hopefuls and forward them to the Obama campaign.
Denman assigned two kids to write a paper [...]
Interesting…
http://thinkprogress.org/politics/20…tacked-romney/
STUDY: Ron Paul Never Attacked Romney Once During 20 Debates, But Attacked Romney’s Rivals 39 Times
By Judd Legum on Feb 27, 2012 at 10:30 am
In recent days, attention has focused on the unusual relationship between Ron Paul and Mitt Romney, who are purportedly competing against each other for the Republican presidential nomination. The New York Times reported recently that Romney has “worked to cultivate” a friendship with Paul. The candidates [...]
And here comes Uncle Sam:
IMF APPROVES CREDIT LINE PROGRAM CHANGES TO PROVIDE LIQUIDITY
IMF CREDIT LINE CREATES NEW SOURCE OF FUNDS FOR MEMBER NATIONS
IMF ADDS EMERGENCY FUNDING TOOL TO ASSIST COUNTRIES IN CRISIS
IMF NEW CREDIT LINE AVAILABLE FOR SIX MONTHS TO TWO YEARS
IMF CREATES PRECAUTIONARY AND LIQUIDITY LINE
IMF SAYS ACCESS UNDER 6-MONTH LIQUIDITY LINE COULD BE UP TO 500% OF MEMBERS QUOTA
Good thing America can get its own house in order [...]
France’s ancient city of Marseille seems the perfect setting for people without a care in the world. But for those at this weekend’s meeting of the G7 it is the backdrop to a deeply gloomy global economic outlook with finance chiefs under heavy pressure to come up with solutions. As delegates began to arrive for the talks, France called for a coordinated response [...]
According to a new report by Verizon and the U.S. Secret Service, a record number of data breaches were reported in 2010, though the number of compromised records dropped dramatically to 4 million in 2010 from 144 million in 2009.
That the “all-time lowest amount of data loss” was recorded alongside the “all-time highest amount of incidents investigated” presents a strange juxtaposition. The report conjectures that the [...]
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