Greenspan Tells Congress Bad Data Hurt Wall Street Posted by timothy on Thursday October 23, @06:41PM from the but-all-this-looted-cash-won't-do-much-harm dept. Supercomputing The Almighty Buck United States Politics CWmike writes "Former Reserve Bank chairman Alan Greenspan has long praised technology as a tool to limit risks in financial markets. In 2005, he said better risk scoring by high-performance computing made it possible for lenders to extend credit to subprime borrowers. But today Greenspan told Congress that the data fed into financial systems was often a case of garbage in, garbage out. Christopher Cox, chairman of the Securities and Exchange Commission, told the committee that bad code led the credit rating agencies to give AAA ratings to mortgage-backed securities that didn't deserve them. Explaining in his testimony what failed, Cox noted a 2004 decision to rely on the computer models for assessing a decision that essentially outsourced regulatory duties to Wall Street firms themselves."
Mikael Ricknas, IDG News Service, 21 Oct 2008, via ACM TechNews, 24 Oct 2008 Google vice president Vint Cerf predicts that 2008 and 2009 will be the most important years for the evolution of the Internet. "This year and the next year are probably the most significant years for Internet's evolution that I can remember," Cerf says. The most significant change will be the transition to IPv6, which will offer more address space for the Internet as the number of IPv4 addresses are expected to run out in 2010. Cerf notes that IPv6 also is required to comply with user's requests to go into encrypted mode. Another large change is the implementation of a more secure domain name system that uses Domain Name System Security Extensions (DNSSECs). DNSSEC ensures that users who use a domain name hookup receive the correct IP address instead of something from a hacker. The Internet also will soon support internationalized domain names with non-Latin character sets. "This is a big change, because for the last 30 years the only thing you could use was Latin characters, and just the letters a though z, digits 0 to 9, and a hyphen," Cerf says. He says other changes that would make the Internet more useful include broadcast and support for multihoming, which would make it easier for users to have more than one Internet service provider. http://www.infoworld.com/article/08/10/21/Big_changes_ahead_for_the_Internet_says_Vint_Cerf-IDGNS_1.html [This clearly has the potential to improve many things. However, case sensitive characters, cyrillic characters (e.g., "o") and others that might easily be confused with Latin characters are likely to provide some new opportunities for phishers (fissures in the dike?). PGN]
Perhaps RFID-passport/ID card cloning is making it into the mainstream media. Not that this is anything at all new to this esteemed audience. The end of the article says that the WA dept of licensing is looking into the matter - as though they have never heard of any of the RFID risks. Based upon their implementation, this may in fact be the case. http://www.komonews.com/news/33205899.html Peter Gregory, CISA, CISSP, DRCE | Risk Analyst and Manager | Published Author, Columnist email@example.com | www.peterhgregory.com
> ... in a 6,500-foot drop. I have to retract that... it seems that it was in fact 650 feet, and the source *I* consulted (I believe it was Sky News) added a zero.
Or the aircraft's horizontal speed might be utterly irrelevant to the effects. Several people were injured in this incident. For example, at: http://www.news.com.au/couriermail/story/0,23739,24460989-952,00.html we see stuff like: The "ghost in the machine'' malfunction which caused a mid-air drama leaving 46 people injured has puzzled air safety investigators who cannot recall a similar incident in aviation history. [...] Passengers on board the flight have described haunting images of children and babies hitting the ceiling of the plane. While the incident left some with spinal injuries and others with broken bones and lacerations [...] At least 30 passengers and crew aboard QF72 were seriously injured - some with spinal injuries and others with broken bones and lacerations 650 feet in 20 seconds is about 10m/s descent. It is irrelevant how shallow the absolute angle was if the descent started abruptly enough because acceleration can still be immense. Analogy: if you're on a bus and someone swings a nasty uppercut at you, does the speed of the bus matter? Cameron Simpson <firstname.lastname@example.org> DoD#743 http://www.cskk.ezoshosting.com/cs/
Whilst working for a UK company specialising in fire detection/extinguishing we regularly received incident reports from the CAA. Whilst our main concern was fuel tank vent and dump systems I was struck by the number of airborne accidents involving turbulence. Some of these incident reports caused much hilarity on a Friday afternoon, especially the ones showing just what can happen with a food trolley and sleeping passengers I have always flown since then with my seatbelt firmly attached around my body. Just like they say on the inflight safety announcements, keep your seatbelt on at all times. Adrian Edmonds, Stryker GI,8 Haeshel Street,PO Box 3534, Caeserea 38900 ISRAEL +972-73 737 4772
Leonard Finegold passed on information about problems with straight party voting issues, undercounting, etc. I can only speak to North Carolina, where I have lived & voted for 24 years. While we do have straight party voting available, and all of the potential problems from Leonard's post do exist, it is well publicized during each election cycle that a straight party vote will NOT select a presidential candidate, or any judicial candidates, or any of the non-partisan races on the ballot. I cannot remember whether this has always been the case since I moved here, but believe that it has.
It seems the problem with straight party voting here in Austin is perhaps a poor user interface (I have not yet voted this year, so I can I am making some conjectures based on past experience as well as this article from the Austin American Statesman: Ignore straight-ticket voting rumors, clerk says http://www.statesman.com/news/content/news/stories/local/10/23/1023voterscam.html) Travis County uses Hart InterCivic eSlates machine, I believe that these are used fairly widely throughout Texas. The problem is, I believe, that when you vote straight party (presumably for either Democratic or Republican, although all the rumors seem to be about the Democratic party), it seems the machine merely selects all the Democratic candidates. If you then try to vote for the Democratic Party candidate (Obama) or presumably any other Democratic candidate, you unselect that person. I am not sure that is all that bad a design (assuming it does work as I think). You are given a chance to review all of you selections before pushing the button to cast your vote. In any case, although there are major problems with electronic voting, including the Hart InterCivic eSlates this seems like at best a minor issue. You do have to be careful to review who you actually voted for, but this is true for any voting system, including paper ballots.
> surely its 'sell' if the price exceeds an upper limit and 'buy' if its > below the lower limit. After all, the purpose of the program is to make > money, not to give it away! No, Russ got it right. That's known as momentum investing. I don't think it makes much sense, but there are definitely people who do it. John Levine, email@example.com, Primary Perpetrator of "The Internet for Dummies", Information Superhighwayman wanna-be, http://www.johnlevine.com, ex-Mayor
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