Linked by Thom Holwerda on Fri 17th Jun 2011 18:49 UTC
Privacy, Security, Encryption Oh boy, what do we make of this? We haven't paid that much attention to the whole thing as of yet, but with a recent public statement on why they do what they do, I think it's about time to address this thing. Yes, Lulz Security, the hacking group (or whatever they are) that's been causing quite a bit of amok on the web lately.
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RE[8]: The same Thom?
by umccullough on Fri 17th Jun 2011 20:52 UTC in reply to "RE[7]: The same Thom?"
umccullough
Member since:
2006-01-26

"May I just point out that the most regulated markets, the financial markets, are in the deepest crisis?


May I point out that the financial crisis was caused by people who abused their freedom at the expense of us ordinary folk?
"

But that is partially because the government requested that banks provide housing loans to people who wouldn't otherwise qualify for them... and also encouraged it.

As Lessig suggests, this is caused by both too much government and too little government.

Reply Parent Score: 2

RE[9]: The same Thom?
by Thom_Holwerda on Fri 17th Jun 2011 20:54 in reply to "RE[8]: The same Thom?"
Thom_Holwerda Member since:
2005-06-29

That's exactly my point: the world isn't black and white ;) .

Reply Parent Score: 1

RE[9]: The same Thom?
by Bill Shooter of Bul on Fri 17th Jun 2011 21:18 in reply to "RE[8]: The same Thom?"
Bill Shooter of Bul Member since:
2006-07-14

Thats a really BS reply the government never required or even asked them to give out interest only loans, to require zero income verification, to abuse a risk pooling algorithm to absurdly wrong data. Its like a kidnapper blaming his career of crime on his parents for asking him to make a living.

Reply Parent Score: 2

RE[10]: The same Thom?
by Berend de Boer on Fri 17th Jun 2011 21:30 in reply to "RE[9]: The same Thom?"
Berend de Boer Member since:
2005-10-19

What were the two biggest banks that blew up? Ah the two government banks: Freddie Mae and Fanny Mac, rescued for untold trillions.

The government banks had nothing to do with this?

Reply Parent Score: 1

RE[10]: The same Thom?
by umccullough on Sun 19th Jun 2011 01:18 in reply to "RE[9]: The same Thom?"
umccullough Member since:
2006-01-26

Thats a really BS reply the government never required or even asked them to give out interest only loans, to require zero income verification, to abuse a risk pooling algorithm to absurdly wrong data. Its like a kidnapper blaming his career of crime on his parents for asking him to make a living.


The government backed up untold numbers of loans, essentially promising they could not fail. Banks got the rewards for successful loans, the government got the shaft for the failed ones. Please tell me how that wasn't a golden parachute instituted by the government? With Fair Housing acts and other "projects, they basically created the bubble int eh first place.

There's plenty of documentaries, articles, and essays on this topic out there - please don't come telling me I'm full of shit without doing some research of your own first.

Edit: Oh, and in case you think I'm somehow bitter about it - I'm not. In fact, this economic crash has turned out to be an awesome situation for me ;)

Edited 2011-06-19 01:27 UTC

Reply Parent Score: 2