Tag Archives: United States Senate

Want To Hack The CIA? Click Here!

After Ddos attack on CIA (Central Intelligence Agency) website by the group of hackers called “Lulzsec,” some Indian hacker who calls himself  “lionaneesh” claims he have found an XSS vulnerability on same site.

The party seems to have just started, and you can join in by clicking on the picture below:

Or you can follow “lionaneesh” on Twitter HERE.

Who knows what will be the next target….

MORE: thehackersnews.com

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Mr. B Says "Thanks"

Once in a while I get an email from my good buddy over in Washington, Mr.B. The other  night, the U.S. Senate passed the so-called “Wall Street Reform,” and a few hours ago I got a new mail from Mr.B – he says “thank you.”

“Never again will Americans be duped by fine print or hidden fees.”

Barack Obama

“Frode – On Thursday, the Senate passed historic Wall Street reform. This movement proved again that the strongest special interests, who for so long have called the shots in Washington, can be beat. When opponents in Congress tried to block the legislation altogether, you stood up — and they backed down. When the lobbyists pushed for loopholes and exemptions just before a final vote, you did not relent — and we fought them off,” the U.S. president writes.

Well, the truth is, I wasn’t even there!

But it’s always nice to get a letter from the president. However, this time I think he’s giving me way too much credit, so I better pass the message on to those whom it is intended.

Here’s the rest:

Your support brought us to this day — and, because of that, we’re poised to implement sensible reforms that will provide a stronger foundation for economic growth.

Now, the House and Senate must iron out their differences before I can sign it into law. But the financial industry will not give up. They have already spent more than $1 million per member of Congress, lobbying on this issue. And in the coming days, they will go all in. This is their last shot to stall, weaken, or kill reform, and they are not accustomed to losing.

But this movement has you — and together, we have beaten the special interests before.

Every American has a stake in this bill.

If you have ever been treated unfairly by a credit card company, this reform works for you — never again will Americans be duped by fine print or hidden fees.

If you ever try to take out a home loan or student loan, this reform works for you — putting an end to predatory and deceptive lending practices.

And, if you or your small business relies on credit from community banks that are being punished for playing by the rules while their competitors do not, this reform works for you — reining in the big banks and making sure all our lenders are subject to tough oversight.

These reforms would put in place the strongest consumer financial protections in history. And, by helping safeguard our economy from recklessness on Wall Street, it would ensure that a crisis like the one that caused this recession never happens again.

This is not a zero-sum game where Wall Street loses and Main Street wins. As we have learned, in today’s economy, we are all connected. When the economy prospers, we all win. Senators of both parties recognize that fact, and that is why lawmakers stood up to the lobbyists and worked across the aisle to ensure that Wall Street reform passed.

But this fight is not yet over. And it is up to us to overcome this final test and pass reform into law. When we do, the power of this movement to make change in Washington — despite the best efforts of the special interests — will no longer be up for debate.

Thank you,

President Barack Obama

*

PS:

Mr. B asks if you can spare 5 bucks (or maybe more?).




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The Truth, Some Truth And Something Like The Truth

All top executives at Goldman Sachs have Tuesday made their testimonies before the Senate members of the U.S. Congress – including CEO Lloyd Blankfein. They all did their best to defend themselves against the legislation brought against them. Here’s the full transcripts of all the prepared statements, and video recordings of the U.S politicians questioning of the Goldman-leaders.

“What you perceive, your observations, feelings, interpretations, are all your truth. Your truth is important. Yet it is not The Truth.”

Linda Ellinor


The CEO of Goldman Sachs testily defended his company’s ethics and business practices during the nation’s financial crisis on Tuesday, saying customers who bought securities from the Wall Street giant came looking for risk “and that’s what they got.”

“Unfortunately, the housing market went south very quickly,” Lloyd Blankfein told skeptical senators on an investigatory panel. “So people lost money in it.”

He was the final witness in a daylong hearing on Goldman Sachs’ behavior, which resulted in a government civil fraud charge earlier this month.

Five present and two former Goldman officials held their ground in hours of contentious testimony, unflinchingly defending their conduct and denying that the Wall Street investment bank helped cause the near-meltdown of the nation’s financial system.

Sen. Carl Levin, D-Mich., the panel’s chairman cited a “fundamental conflict” in Goldman’s selling securities and then betting against the same securities — and not telling the buyers.

“They’re buying something from you, and you are betting against it. And you want people to trust you. I wouldn’t trust you,” Levin told Blankfein.

Blankfein denied such a conflict. “We do hundreds of thousands, if not millions of transactions a day, as a market maker,” Blankfein said, noting that behind every transaction there was a buyer and a seller, creating both winners and losers.

Here’s the full prepared testimonial of  Lloyd Blankfein.

The following Goldman executives was called in on the carpet before the Senate in today’s hearing:

LLOYD C. BLANKFEIN

Chairman and Chief Executive Officer

DANIEL L. SPARKS

Former Partner, Head of Mortgages Department

Prepared testimony

JOSHUA S. BIRNBAUM

Former Managing Director, Structured Products Group Trading

Prepared testimony

MICHAEL J. SWENSON

Managing Director, Structured Products Group Trading

Prepared testimony

FABRICE P. TOURRE

Executive Director, Structured Products Group Trading

Prepared testimony

DAVID A. VINIAR

Executive Vice President and Chief Financial Officer

Prepared testimony

CRAIG W. BRODERICK

Chief Risk Officer

Prepared testimony

All testimonies provided by Zero Hedge.


The senators asking questions was: Carl Levin Chairman (D-MI), Thomas R. Carper (D-DE), Mark L. Pryor (D-AR), Claire McCaskill (D-MO), Jon Tester (D-MT), Tom Coburn Ranking Member (R-OK), Susan M. Collins (R-ME), John McCain (R-AZ), John Ensign (R-NV).

“I’ve Been Targeted”

Embattled Goldman Sachs Executive Director Fabrice Tourre who was sued by the SEC for fraud told the Senate subcommittee today that he will defend himself in court against the suit.

I deny — categorically — the SECs allegation, Tourre said at a hearing of the Permanent Subcommittee on Investigations. I will defend myself in court against this false claim, he said, adding that a deal at the center of the suit was not designed to fail.

Tourre, 31, and six other current and former Goldman Sachs employees will testify before lawmakers about the firms mortgage-securities business in the years leading up to the economic collapse of 2009.

Inside Goldman Sachs

Here’s the morning report from ABC News, featuring clips from Lloyd Blankfein’s testimony:

The Essential Background Material:

Fitch: The Long-Term Goldman-Effect
Will The Goldman-Case Kill The OTC Market?
Conquering The Devil
Goldman’s Collateralized, Securitized And Synthesized Fraud
Obama: “It Is Time”
Goldman Sachs Charged With Fraud – Here’s The SEC filing
Two Thirds of Americans Support Stricter Financial Regulations
Living In A Derivative World


The H5F-TV Toolbar; built-in radio- and TV channels, news ticker and email notifier.

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Filed under International Econnomic Politics, National Economic Politics