Those fucking snakes. I hope the suit goes from $70 billion to 700.
Also interesting that I just went to Experian, because people are saying put a Credit freeze on your stuff, and Experian says they want $11.00 to do this. Screw you Experian. I'll see you all in court.
That million a year would have been a good start towards actually securing the data.
"Equifax Lobbied for Easier Regulation Before Announcing Data Breach" -FIFY
Would love to see them go bankrupt and most of their executive staff, especially their security officer put in jail.
Oh yea, this is America, they'll all walk and get a huge bonus!
So I heard on the radio that due to the data breach, I now have to Pay Equifax $5 if I want them to protect me from identity theft? What the what? shouldn't they do that for free?
From the article:
> The executives said the company waited more than a month to announce the breach in part because of the need to set up a website for affected consumers and decide on services for them, according to a person familiar with the matter.
I guess it takes a month to register a domain that looks like it was created for phishing and to throw up a vulnerable WordPress site to host the domain.
The fucking CISO/CSO should be thrown out on her head for letting this happen and for the pathetic response.
It still amazes me how easy identity theft is in to US... all because people refuse a National ID because "freedom", so the SSN is used as a ID even though it's not supposed to.
Seriously... It's easiest issue to fix. 1 - Just get an National ID... with all those high tech security measures like a photo. 2 - That's it.
Whenever you need to identify someone, use the National ID... that was made for that purpose... And it's easy to check to see if the person in the ID is the person you're talking to about opening that bank account.
You guys already use the SSN as a national ID anyway... why not make one specific for that purpose that would be more safe?
Is this really surprising? Business is always lobbying for eases on regulation to boost their short-term gains, even if the results of looser regulation would be catastrophic. That's what government and regulation are for, to look past the quarterly results that is the end-all, be-all of private enterprise these days.
I'm sure the free market will work it out.
Where are muh libertarians at?
"The financialization of our economy—more aptly called financial strip-mining—is the most powerful driver of runaway inequality.
This is the direct result of the failed neo-liberal policies that erroneously claim that cutting regulations always makes the economy run better. It's bullshit.
In the case of finance the picture is crystal fucking clear. When we had our foot on the neck of Wall Street (from the New Deal era to the late 1970s) the economy became more egalitarian with real wage increases for working people of all kinds.
But after deregulation of Wall Street activities—egalization of stock buybacks, end of Glass Steagall, prohibition of regulating derivatives, etc—U.S. inequality soared.
As one recent study puts it: "We observe a complete collapse of the bottom 50% income share in the US between 1978 and 2017, from 20% to 10% of total income, while the top 1% income share rose from 10% to 21%"