Also, the interesting thing about this “cyber-security” issue.... it gives the reason for one of the bank failures this year was not adequate enough cyber-security for the bank causing it to lose 22% of its “assets” (through cyber-attack and transferring 22% of its assets out of the bank). This was a major cause of the failure of the bank.
So, some crooks got the money, and we got the “benefit” of “bailing out the bank” because the crooks took away enough of their assets to cause them to fail...
True and I have no idea how to correct that (well above my pay grade).
Do you recall an early hack where a programmer 'skimmed' a tenth of a cent off of each 'partial' cent transaction? Do the math... he got caught, couldn't handle the amount of money accumulated.
IT folk can handle that stuff (I hope).
We need to handle control the Barney Franks and Chris Dodds that allowed for the almost worldwide economic collapse.