Monthly Archives: July 2015

China Lets Banks Roll Over Loans Backed by Pledges of Shares

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“China will let banks roll over loans backed by shares and adjust their collateral requirements as the government tries to limit pressure for investors to sell stock and contain risks to the financial system from a market rout.  The China Banking Regulatory Commission also wants lenders to support firms’ share buybacks by offering collateralized loans, the agency said in a statement on Thursday. One of the side-effects of the share market’s collapse from a June 12 peak was to diminish the value of shares pledged as collateral for loans from banks and brokerages.  In China, a borrower pledging blue-chip shares can usually get a loan of as much as 50 percent of their value.”

http://www.bloomberg.com/news/articles/2015-07-09/china-lets-banks-roll-over-company-loans-backed-by-share-pledges

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China Shows How to Destroy a Market

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“The strongest collapse in U.S. equities took place after the SEC banned short selling in September 2008.  Consider the long buyer in a market selloff: They are catching the falling knife or anvil. They risk being early, and the trade is a money loser. Short sellers suffer no such disadvantage. Indeed, it is not much of a stretch to suggest that every short sale is a future buy.  How ineffective are prohibitions of short-selling? Recall the ban in the 1930s — despite that, the Dow eventually fell 80 percent from its highs. When the A-share market reopens in 2016, a bigger question will remain: Why would anyone want to invest in a market where you might not ever be able to sell?”

http://www.bloombergview.com/articles/2015-07-09/china-shows-how-to-destroy-a-market

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Real ID Exposed: It Is Worse Than You Think

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“The Constitutional Alliance strongly opposes the Real ID Act 2005; our reasons go beyond the reasoning of other organizations.  Our primary reasons for opposing the Real ID Act are four-fold.  It is my hope and prayer that you will share a link to our web-site with everyone you are in contact with.  I do not ask a lot but I am asking now. You will learn while reading this essay why there is not as big a difference as you have been led to believe between states that are in material compliance with the Real ID Act 2005 and those that are.”

http://www.constitutionalalliance.org/articles/real-id-exposed-it-worse-you-think

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Texas Town Charging Reporters $79,000 for Emails About Cop Abuse

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“Days after McKinney, Texas, police officer Eric Casebolt was filmed pointing his service weapon at a group of unarmed black teenagers at a pool party this month, Gawker submitted a Public Information Act request to the city of McKinney asking to see Casebolt’s records and any emails about his conduct sent or received by McKinney Police Department employees. Today, we received a letter from the city’s attorneys claiming that fulfilling our request would cost $79,229.09.  Since when are year-old emails not searchable? Is the city of McKinney still corresponding via telegram?”

http://gawker.com/texas-city-is-charging-us-79-000-for-emails-about-pool-1714757746

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Privacy tools – encryption against global mass surveillance

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“You are being watched. Private and state-sponsored organizations are monitoring and recording your online activities. privacytools.io provides knowledge and tools to protect your privacy against global mass surveillance.”

https://www.privacytools.io/

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Are You Ready for the e-PATRIOT Act?

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“Only a few days after the OPM hack, Senate leaders tacked on the Cybersecurity Information Sharing Act (CISA) to a defense bill to avoid debate on the measure. It didn’t work – the Senate failed to advance the legislation.  It’s no wonder they didn’t want a debate. CISA provides liability protection for businesses that voluntarily share “cyberthreat” data with the government. But it also creates a back-door channel for government agencies to retrieve, analyze, and store enormous volumes of personal data. And since information sharing would be voluntary, the government would be able to obtain all of this information without a warrant. Think of it as an ‘e-PATRIOT Act.'”

http://www.nestmann.com/are-you-ready-for-the-patriot-act

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The Massive OPM Hack Actually Hit 25 Million People

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“The stolen information includes about 1.1 million fingerprints as well as findings that investigators obtained from interviews conducted with neighbors, friends and family members for background checks. Such information can be highly sensitive since it can include knowledge about the drug and criminal history of someone undergoing a background check as well as their sexual orientation and relationships.  Those affected include anyone who applied for a security clearance in 2000 or later and who underwent a background investigation. All of that is in addition to the millions people the government had already announced were hacked.”

http://www.wired.com/2015/07/massive-opm-hack-actually-affected-25-million/

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Default SSH Key Found in Many Cisco Security Appliances

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“Many Cisco security appliances contain default, authorized SSH keys that can allow an attacker to connect to an appliance and take almost any action he chooses. The company said that all of its Web Security Virtual Appliances, Email Security Virtual Appliances, and Content Security Management Virtual Appliances are affected by the vulnerability.  This bug is about as serious as they come for enterprises. An attacker who is able to discover the default SSH key would have virtually free rein on vulnerable boxes, which, given Cisco’s market share and presence in the enterprise worldwide, is likely a high number. The default key apparently was inserted into the software for support reasons.”

https://threatpost.com/default-ssh-key-found-in-many-cisco-security-appliances/113480

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Insanity on the Thames

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“UK Prime Minister David Cameron is a seriously deluded man. First, he apparently believes Facebook and Twitter users currently have ‘absolute privacy’ in their communications. That is nonsense. Second, Cameron believes this nonexistent absolute privacy is unsustainable and intolerable. He wants to destroy it as soon as possible. This is necessary, Cameron told Parliament, because tolerating such privacy would ‘leave a safe space’ for terrorists to communicate with each other. Contrary to Mr. Cameron’s assurance, Britain certainly is trying to ‘search through everybody’s emails and invade their privacy.’ The U.S. government is doing the same.”

http://www.thedailybell.com/news-analysis/36397/Insanity-on-the-Thames/

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FBI doesn’t want to have to force tech companies to weaken encryption

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“Ever since Apple commendably announced last September that it would increase the security protecting millions of iPhones so that only the user – and not the company – would be able to unlock them, Comey has spent months arguing that this could spell disaster for the FBI trying to access what is on suspects’ phones. Since then, other popular messaging services like WhatsApp have followed in Apple’s footsteps and encrypted user’s chats ‘end-to-end.’ Since his initial objection to tech companies enabling end-to-end encryption, Comey has rightly been bombarded with criticism from security experts, cryptographers and engineers.”

http://www.theguardian.com/commentisfree/2015/jul/09/government-access-backdoor-encryption-bad

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