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Captain Ned
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Re: Darn it, Equifax!

Sun Sep 17, 2017 10:39 am

SecretSquirrel wrote:
I've got to assume these were 10b5-1 sales.

Nope. Last two prior sales dates per EDGAR:

Ploder: 11/29/2016 - 08/29/2016
Gamble: 05/23/2017 - 05/20/2014
Loughran: 02/28/2017 - 02/21/2017

EDGAR knows all

10b5-1: You must get paid by gov't like I am. Who else knows this crap.
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Re: Darn it, Equifax!

Sun Sep 17, 2017 10:58 am

Captain Ned wrote:
10b5-1: You must get paid by gov't like I am. Who else knows this crap.


Thankfully, no. :wink:

I just went through an insider trading refresher. Actually, I pay a bit more attention to such rules than most probably do. While I'm not a insider according to definition, I am routinely exposed to MNPI so watch what I do and say.

--SS
 
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Re: Darn it, Equifax!

Wed Sep 20, 2017 12:03 am

Nostalgia isn't what it used to be.
 
notfred
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Re: Darn it, Equifax!

Wed Sep 20, 2017 8:14 am

They've finally announced the number of Canadians caught up in the breach 100,000. No way to check if you are part of it apart from waiting for a letter from them telling you that you were compromised.

My wife was a victim of identity fraud last year so she had contacted them, so I suspect that she will be caught up in it.
 
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Re: Darn it, Equifax!

Wed Sep 20, 2017 11:37 am

just brew it! wrote:
https://www.washingtonpost.com/business/economy/before-the-breach-equifax-sought-to-limit-exposure-to-lawsuits/2017/09/19/8e6c8020-9d47-11e7-9083-fbfddf6804c2_story.html


That paywall is irritating... I'm been having to open WP links more and more frequently in incognito mode to view them, apparently that's all it takes to bypass the cookie counter limits.

As to the article's subject, that's completely typical. Cheaper to pay a million a year to lobby for reduced penalties and then pay them, then to actually do it right the first time.
 
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Re: Darn it, Equifax!

Wed Sep 20, 2017 5:01 pm

https://arstechnica.com/information-tec ... tion-site/

It's like the company is being run by the Three Stooges.
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Vhalidictes
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Re: Darn it, Equifax!

Wed Sep 20, 2017 5:31 pm

just brew it! wrote:
https://arstechnica.com/information-technology/2017/09/equifax-directs-breach-victims-to-fake-notification-site/

It's like the company is being run by the Three Stooges.


I guess the good news is that they don't handle particularly important information and have little oversight?
 
The Egg
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Re: Darn it, Equifax!

Thu Sep 21, 2017 7:20 am

I'd like to see some serious jail time and lots of new regulations enacted, but unfortunately I have little faith that either will happen (a good part for R&P reasons). In any case, after I break myself away from a family mobile phone plan in a few weeks, I'll be enacting a permanent security freeze on my credit file.
 
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Re: Darn it, Equifax!

Thu Sep 21, 2017 9:55 am

Unrelated but since it got mentioned in passing it seems EDGAR was hacked as well:
https://www.usatoday.com/story/money/bu ... 687761001/
 
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Re: Darn it, Equifax!

Tue Sep 26, 2017 10:52 am

In a move that should come as a surprise to nobody, the CEO of Equifax "retired" today.

https://arstechnica.com/tech-policy/201 ... o-retires/

Conveniently, this also disqualifies him from participating in any upcoming Congressional hearings.
 
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Re: Darn it, Equifax!

Tue Sep 26, 2017 10:55 am

There seems to be no accountability in that company. You are leaving one way or another with the golden parachute already, at least have the balls to resign and take responsibility. And using "retirement" to avoid getting grilled in congress? That's just slimy. :evil: :x

The related link from the article also indicated that the breach may have started in March with the hackers slowly roaming the network and gaining more access incrementally.
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DragonDaddyBear
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Re: Darn it, Equifax!

Tue Sep 26, 2017 11:49 am

As the CEO at the time is he still held legally responsible? If so, under what law?
 
Glorious
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Re: Darn it, Equifax!

Tue Sep 26, 2017 11:58 am

HAL-9000 wrote:
Conveniently, this also disqualifies him from participating in any upcoming Congressional hearings.


No, it does not. I honestly have no idea where you even got that idea.

Congress can subpoena anyone it likes for virtually any reason it wants. "Grand inquest of the state" etc...

I mean, like, *maybe* the subpoena was originally for "the CEO of Equifax" or something like that, but, uh, Congress can immediately amend that and they absolutely will.
 
Glorious
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Re: Darn it, Equifax!

Tue Sep 26, 2017 12:04 pm

DragonDaddyBear wrote:
As the CEO at the time is he still held legally responsible? If so, under what law?


The SEC has been on this kick lately where they penalize Corporations & Executives, not for various and sundry misconduct directly, but rather for the failure to disclose the potential financial impact of that misconduct. That is civil, however.

Clever, huh?

BUT, since SOX sez Execs have to certify the truthfulness of their filings and face criminal charges for falsehood, if it turns out that it can be shown that Equifax knew of the breach and covered it up, yes, they could ultimately face (however indirectly) criminal sanction for this.
 
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Re: Darn it, Equifax!

Tue Sep 26, 2017 1:39 pm

Glorious wrote:
HAL-9000 wrote:
Conveniently, this also disqualifies him from participating in any upcoming Congressional hearings.


No, it does not. I honestly have no idea where you even got that idea.

Congress can subpoena anyone it likes for virtually any reason it wants. "Grand inquest of the state" etc...

I mean, like, *maybe* the subpoena was originally for "the CEO of Equifax" or something like that, but, uh, Congress can immediately amend that and they absolutely will.


Well, excuse me. That's the info that I read when I looked at a story earlier today. It has since been updated with "-- This story has been updated to reflect that Equifax confirmed Richard Smith is scheduled to testify before Congress."

https://www.thestreet.com/story/1431996 ... aring.html

It must be hard living in your orbit where nobody is allowed to make a mistake.
 
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Re: Darn it, Equifax!

Tue Sep 26, 2017 1:46 pm

HAL-9000 wrote:
Well, excuse me. That's the info that I read when I looked at a story earlier today. It has since been updated with "-- This story has been updated to reflect that Equifax confirmed Richard Smith is scheduled to testify before Congress."


Look, honestly, no hard feelings, but as I said, I couldn't even figure out where you got that idea, and I was annoyed (not at you but what I presumed had to be your unnamed source) because it is as inflammatory as it is flagrantly wrong.

HAL-9000 wrote:
It must be hard living in your orbit where nobody is allowed to make a mistake.


I wanted to correct the falsehood because that's how canards and false rumors propagate. I'm not angry at you, I'm angry at an irresponsible and incredibly stupid journalist at thestreet.com who should be fired because that statement is so egregiously wrong.
 
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Re: Darn it, Equifax!

Tue Oct 03, 2017 4:13 pm

At least there is some good news if your Canadian, still more bad news if your in the US.
Techspot wrote:
New findings show that an additional 2.5 million US consumers have likely had their personal information exposed, bringing the total number up to 145.5 million people affected by the breach. Fortunately for those living abroad, the security audit indicates that no databases outside of the United States have been affected.

Canadian consumers actually are receiving some good news from the completion of Mandiant's findings. Original estimates placed 100,000 Canadian citizens at risk, but the now revealed numbers show only around 8,000 Canadian consumers who may be affected.


https://www.techspot.com/news/71238-equ ... tinue.html
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just brew it!
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Re: Darn it, Equifax!

Thu Oct 12, 2017 11:06 pm

...and the hurt continues: https://arstechnica.com/information-tec ... sh-update/

Looks like Equifax (still) has the Three Stooges running their network security operation.
Nostalgia isn't what it used to be.
 
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Re: Darn it, Equifax!

Fri Oct 13, 2017 12:39 am

They must have replaced the music major with an art appreciation major.
 
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Re: Darn it, Equifax!

Fri Oct 13, 2017 11:49 pm

just brew it! wrote:
...and the hurt continues: https://arstechnica.com/information-tec ... sh-update/

Looks like Equifax (still) has the Three Stooges running their network security operation.


Disgusting. It's amazing they weren't hacked years earlier with that level of security.... or perhaps they were and just never noticed. Not a comforting thought.
 
Captain Ned
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Re: Darn it, Equifax!

Wed Mar 14, 2018 5:34 pm

CIO just indicted for insider trading:

https://www.housingwire.com/articles/42 ... ata-breach
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Re: Darn it, Equifax!

Wed Mar 14, 2018 11:32 pm

What a moron. To you or to me that $117k of avoided loss is a lot of cash. To him it should be barely a drop in the bucket. Why risk jail time over that?
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Re: Darn it, Equifax!

Thu Mar 15, 2018 8:00 am

derFunkenstein wrote:
What a moron. To you or to me that $117k of avoided loss is a lot of cash. To him it should be barely a drop in the bucket. Why risk jail time over that?


You and me don't have the portfolio to result in a $117k loss on a single stock. By the time you get to the point where you can get that big a loss on a single stock, such a loss would be a drop in the bucket and certainly not worth jail time. Of course that assumes you are thinking like a somewhat sane person. :-?

As the gift that keeps on giving, I again have to deal with fall out from the Equifax breach. I have to go unfreeze all our credit accounts in preparation for buying another house. I know, a small inconvenience, but annoying none the less. :(

--SS
 
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Re: Darn it, Equifax!

Thu Mar 15, 2018 8:19 am

I would hazard a guess that in order to rise to that high of a position in the financial industry, you generally need to have a certain sort of personality (and said personality frequently includes a defective moral compass).
Nostalgia isn't what it used to be.
 
Glorious
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Re: Darn it, Equifax!

Thu Mar 15, 2018 8:28 am

Selling literally all of your stock options immediately after discovering about a data breach...

You knew it would go public, hence the sale, so you should have known this would be utterly impossible to hide and since you sold ALL of your options, you can't even pretend it was unrelated.

Forget morality, the stupidity here is unbounded.
 
just brew it!
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Re: Darn it, Equifax!

Thu Mar 15, 2018 8:33 am

Healthy dose of both amorality and stupidity, IMO.
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Re: Darn it, Equifax!

Thu Mar 15, 2018 9:13 am

Fight club had the right idea about these scummy companies.
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Glorious
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Re: Darn it, Equifax!

Thu Mar 15, 2018 9:19 am

bauxite wrote:
Fight club had the right idea about these scummy companies.


What? Start fascism and blow up a bunch of office buildings where the actual data about indebtedness was never stored in the first place?
 
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Re: Darn it, Equifax!

Thu Mar 15, 2018 9:23 am

Glorious wrote:
a bunch of office buildings where the actual data about indebtedness was never stored in the first place?

Are you saying that Fight Club predicted cloud storage? :lol:
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Glorious
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Re: Darn it, Equifax!

Thu Mar 15, 2018 9:36 am

derfunkenstein wrote:
Are you saying that Fight Club predicted cloud storage?


More like "cloud storage" is the new "mainframe".

Captain Ned can probably tell you a lot more about this, but there are lots of regulations in banking to make sure that you have redundancy etc.. and it's been common custom for DECADES for mainframe folks in general to have a primary datacenter (not in your skyscraper, as that is a needless engineering/leasing complication) and a backup "hot site" etc...

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