Citibank, HSBC, JPMorgan Chase, RBS and UBS will collectively pay $1.4 billion to the U.S. Commodity Futures Trading Commission and about$1.75 billion to the U.K.’s Financial Conduct Authority. UBS will also make a payment in Switzerland. In addition, the U.S. Office of the Comptroller of the Currency said Bank of America, Citibank and JPMorgan Chase will pay a combined $950 in penalties.
Smash the Man
In January 2014, in the midst of the NSA scandal, President Obama decided that the NSA must divulge any undisclosed flaws in Internet security that they were aware of. This means if the NSA is aware of software stack bugs like the recently discovered Heartbleed bug, they must publicly acknowledge the bug. But detractors have noted that a major loophole exists in the policy as stated by Obama
During an era of public outcry against government corruption, the Supreme Court conservatives strike down limits on campaign contributions
Yesterday, the Supreme Court continued to ignore the voice of U.S. citizens, striking down a decades-old cap on the total amount any individual can contribute to federal candidates. The justices said in a 5-4 vote that Americans have a right to give the legal maximum to candidates for Congress and president. According to the Supreme Court, caps on campaign contributions restrict a person’s First Amendment free speech rights.
It’s a dog-eat-dog world out there but in a country where the government was designed to be representative of the people, the little dogs in the U.S. are still finding themselves at a huge disadvantage. The Center for Responsive Politics has just completed their analysis of financial data disclosed by US Congress members and has found that more than half of the members of US Congress are now millionaires. At least 268 of the 530 members of the House of Representatives and the Senate had an average net worth of $1 million or more in 2012.
Texas teen has “affluenza” – wealthy 16-year-old with priors gets probation after killing four in drunk driving crash
North Texas residents were stunned today after State District Judge Jean Boyd sentenced an affluent 16-year-old teenager, who killed four pedestrians while driving drunk, to probation, despite the fact that the teen had already been charged with two alcohol-related offenses before he turned 16. The inebriated teen drove an estimated 70 MPH in a 40 MPH when he struck and killed four people, including three good Samaritans who were helping a disabled motorist. Two teens thrown from the truck suffered severe head injuries but recovered. Couch’s blood alcohol level tested at .24, three times the .08 legal limit.
Nearly 100% of the global Internet traffic is dependent upon deep-sea networks of fiber-optic cables that cover the ocean floor. As much as ¾ of the international communications between the Middle East and Europe are carried by two undersea cables: SeaMeWe-4 (which stands for South East Asia Middle East West Europe) and FLAG Telecom’s FLAG Europe-Asia cable. On January 30, 2008, both of these cables were cut, severely disrupting Internet and telephone traffic from India to Egypt. A few days later, on February 1, 2008, another undersea cable was cut in the Persian Gulf and two days after that, on February 3, 2008, another Middle East cable was cut. On February 4, 2008, a report was issued indicating two more cables had been cut. Five high-speed submarine communication cables had been cut which caused disruptions and slowdowns for users in the Middle East and India. And nobody was sure how or why the cables were cut.
On Wednesday, April 18, at approximately 16:00 Eastern Time, U.S. Federal authorities removed a server from a colocation facility shared by Riseup Networks and May First/People Link in New York City. The seized server was operated by the European Counter Network (“ECN”), the oldest independent internet service provider in Europe, who, among many other things, provided an anonymous remailer service, Mixmaster, that was the target of an FBI investigation into the bomb threats against the University of Pittsburgh.
The documents claim that Hector Xavier Monsegur (known as “Sabu” in Anonymous circles) acted as the rooter and assisted the groups in gaining unauthorized access to the systems by identifying vulnerabilities and providing infrastructure support (servers and routers) which could be used to launch the attacks. Whether the “infrastructure support” mentioned in the documents was unauthorized use of his company’s hardware or simply acting as a LIOC client/agent or Tor exit node is not specified. Strangely, the indictment does specifically mention that the group supported Wikileaks and its founder, Julian Assange.
ACTA, short for Anti-Counterfeiting Trade Agreement, is a treaty for the purpose of defining the standards for the enforcement of intellectual property rights. Its intent is to establish a legal framework within which all countries can operate to enforce intellectual property rights.