top New Federal Database Will Track Americans' Credit Ratings, Other Financial Info
Full Disclosure: Worked at one of the money center banks in both Small Business and Credit Cards for six years and a foreign bank with a US presence for 4.
What is this thing and do I need to get my foil hat?
The database they are constructing is being used to conduct performance reviews on originated mortgages. The database won't pick you up unless you start a mortgage. Once you originate the mortgage this database is being put into place in order to monitor your performance on that mortgage and your corresponding financial condition.
Why are they doing this?
To stop the next credit crisis as the system would allow surveillance over mortgages originated by banking institutions. Today, banking regulators have broad powers to request information out of banks including everything that's going to be held in this database (personal information about you, you bet - your bank is pulling regular credit reports on you and the regulator can check your progress when they come in for an exam. Building the database would shortcut that request and help get a better view as to how institutions are originating. No longer would regulators have to show up and start poking around at a bank, but they could monitor the health of the banks portfolio.
Who would be against this? This sounds like a way to crack down on banks.
It is a way to crack down on banks and ensure that what's being originated isn't crap. Think about it. We could have better monitored the health of the entire mortgage system by have having this database in place. Those who are against this are most likely those who have a vested interest in ensuring that the mortgage industry opaque to regulators. Those concerned about privacy should realize all of this data is being collected today, I can pull your credit report and cross it with data from CoreLogic and do roughly the same thing. Yes it is all in one place and with a government entity, but so long as its being used responsibility I don't have a problem with it as it would create an excellent tool for finding bad actors within the mortgage industry.
top Amazon Escalates Its Battle Against Publishers
right up and until the point where you wield monopoly power. In this case, Amazon has hit that point. When you become the market, you have to be the market thus have open access. Sorry, that's the price of success.
top Ask Slashdot: What Should Every Programmer Read?
My boss gave me this book when I started by my first job out of college. By far one of the best books on software development and construction out there. It is timeless and even though I no longer write code for a living, I refer back to it on many occasions still. You want a book to make a you a better programmer; you can't go wrong here.
top Reason Suggests DoJ Closing Porn Stars' Bank Accounts
Frank Keating, former governor of Oklahoma and FBI agent who is now head of the American Banker's Association came out against Choke Point in a WSJ op-ed a week ago.
http://online.wsj.com/news/art... When you become a banker, no one issues you a badge, nor are you fitted for a judicial robe. So why is the Justice Department telling bankers to behave like policemen and judges? Justice's new probe, known as "Operation Choke Point," is asking banks to identify customers who may be breaking the law or simply doing something government officials don't like. Banks must then "choke off" those customers' access to financial services, shutting down their accounts.
Justice launched the effort in early 2013 as a policy initiative of the president's Financial Fraud Enforcement Task Force, which includes the Federal Deposit Insurance Corp., the Consumer Financial Protection Bureau and other regulatory agencies. Though details are scant—much of the investigation has been conducted in secret—the probe aims to crack down on fraud in the payments system by focusing on banks that service online payday lenders and other services deemed suspicious by the government....
top San Francisco's Housing Crisis Explained
THE reason California's personal income taxes are so high is that nothing can be collected through property taxes. Property taxes in California are in a perverse way the same as rent control. The property tax pricing has gotten so far out of whack due to Prop 13 formulas that the only way the state can get any revenue is on personal income tax. Of course where people always own home, personal income tax is cyclical so a lot of the boom - bust cycle plays out in California's budgets because the state is levered up on the economy. Economy does well, everything is great. Economy does poorly, whole thing fall down.
top Can the ObamaCare Enrollment Numbers Be Believed?
How many do things at the last minute? Homework, tax returns, bill pays, website traffic, contract signings, same thing goes for sign-ups. If demand were linear jobs would be easier, but instead it's lumpy. Given a deadline a great majority will wait until the last minute so it doesn't shock me whatsoever. Anyone who thinks the number of folks wouldn't spike hard ahead of a set deadline has never had to deal with demand.
top An SSD for Your Current Computer May Save the Cost of a New One (Video)
Most computers are fine on 4-8 GB of RAM. The processing slowdowns come from the HD. If you are looking for recommendations, I recommend the EVO 840 Series from Samsung. Great speed, fantastic tools to move and config your drive, and price competitive. Yes, you can do cheaper but I prefer not too. Right now you can grab a Evo 840 Series - 500GB for $270.00. I own three of these beasts (2 500GB, 1 TB). My wife was complaining about 3 year old laptop performance and I agreed. Swapped the drive and BOOM, no more problems. She is happy with her computer again and we didn't have to buy a new laptop. Sure, its possible you can get at low priced 120GB drive and start moving things around to make it work but for a little extra cheddar just keep it all on one drive and save yourself the pain.
top Comcast To Buy Time Warner Cable In $44.2 Billion All-Stock Deal
If this does go through and I have my doubts, I want the FCC NOT to force them into divestiture but offer higher speed Internet, ala carte pricing, sign off on Net Neutrality, and remove all bandwidth throttling and caps. The time is not to try and create competition, because there is none in cable, but to actually make a company perform like it is in a competitive environment.
top IBM's x86 Server Business Back On the Market
To be fair to the editors, this is exactly how it reads in the source. The use of quotes is warranted and allows the editors to escape my wrath....this time..
top Microsoft Remotely Deleted Tor From Windows Machines To Stop Botnet
Exactly this version of Tor was installed in a non-obvious and non-trivial location to get to and as a service. Microsoft asked the Tor developers "Anybody actually do this?", Answer: "Nope.". Microsoft then nuked the rogue Tor apps either through Microsoft Security Essentials or through Malicious Software Tool removal app.
top Microsoft Remotely Deleted Tor From Windows Machines To Stop Botnet
Good security move by Microsoft. We don't know exactly how the rogue applications were eliminated, but good chance it was Microsoft Security Essentials. This was the equivalent of Symantec and McAfee removing a virus only difference was it was Microsoft this time.
top NSA Drowns In Useless Data, Impeding Work, Former Employee Claims
That's because "data management practitioners" spend their time practicing data management. I bet if you asked the "data analysts" about it, they'd say most of the important work dealing with data is in the analysis, but they still need to waste 20% of their time on data preparation and integration.
Actually the number we quote is analysts spend 60 - 80% of their time manually prepping their data for analysis if they don't have a solution in place. Its a BIG problem. Just because you can ingest everything in the world doesn't mean you should.
top How Elon Musk Approaches IT At Tesla
"partially because it didn’t need integration of disparate applications."
I would say that the only way Tesla was able to do this was because they didn't need to integrate disparate applications. Most SAP integrations and installations fail because they have to connect to every other system within a company. Tesla has no legacy so therefore it would be easier to do so. I would say this, there are a few cloud-based SAP solutions available that could have been brought up in the same amount of time or less given what little constraints it appears to have been put on them.
top LinkedIn's New Mobile App Called 'a Dream For Attackers'
I'm calling on Apple to kick 3rd party applications out of the ability to make a configuration like this. This appears to be a significant security threat to the iOS platform and should be treated as such. Applications should not be able to do this on their own and as we have seen with LinkedIn, it can lead to no good.
For those sysadmins who would like to block this from occurring within their network or on their devices this was taken from Reddit. See the IMAP and SMTP configuration below and block it at the firewall.
SMTP: smtp.intro.linkedin.com From the Apple configuration profile: IncomingMailServerHostName imap.intro.linkedin.com IncomingMailServerPortNumber 143 .... OutgoingMailServerHostName smtp.intro.linkedin.com OutgoingMailServerPortNumber 587
top Online Retailers Cruising Tor To Hunt For Fraudsters
I was thinking the same thing. Kudos sir.
top US Attorney General Defends Handling of Aaron Swartz Case
Between Fast and Furious, Swartz, and now giving the OK on drone strikes against US citizens in America - he doesn't have a friend in the world, he has ticked off everyone.
top Bloggers Put Scientific Method To the Test
calling out BS, exaggerated, wrongly calibrated, and/or embellished results. This makes perfect sense to me. If you publishing a paper on a subject then it should be a repeatable recipe.
about a year and a half ago
top New York Paper Uses Public Records To Publish Gun-Owner Map
We have a long tradition in the US of respecting patient and client (attorney-client privilege) rights. However, we do not do the same for weapons ownership. Medical history for a good part is involuntary especially when seeking care through Medicare bills (Grandma gets old, she needs medical treatment and you can't really choose to get most cancers unless you smoke or go next to a huge field of radiation). Gun ownership is completely voluntary, no one compels anyone to own a gun in the US. Gun ownership is completely voluntary especially as it relates to assault rifles. Assault rifles have only one purpose, killing people real bad dead. We have the right and a responsibility as a society to make sure we know who owns those weapons, ensure that owners are of sound mind and body, adequately trained to handle the weapon, and that the weapon is being cared for in such a way that it will not fall into the wrong or young and untrained hands. For those that own a
.22 rifle for hunting, I have no problem. I don't feel the need to regulate them that deeply. For those that need an AR-15, I want a great deal more background, training, and understanding of that individual. about a year and a half ago
top U.S. Election Day In Progress: What's Been Your Experience?
NYC: They moved our election point so we ended up going to the wrong polling place. When we got to the correct polling place and standing in line for 20 mins, we found out our election district changed. Another 20 mins in line and we got our ballots finally for the correct election district. It sucks, but its your duty to vote.
about a year and a half ago
top 72% of Xbox 360 Gamers Approve of "More Military Drone Strikes"
72% vs 62% for the entire population. Shades a little more towards drone use but not over and above Republican sentiment.
http://www.pewglobal.org/2012/06/13/global-opinion-of-obama-slips-international-policies-faulted/ "Americans are the clear outliers on this issue – 62% approve of the drone campaign, including most Republicans (74%), independents (60%) and Democrats (58%)."
Hangtime has no journal entries.