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Comment Re: Shades Of The 2008 Financial Crisis (Score 1) 39

The infection was already there. Anyone who'd invested in any mortgage derived securities was compromised because the underwriting and scoring process was fundamentally fraudulent. Securities are rated and, at least in theory, those ratings are supposed to reflect the degree of risk. But the scoring agencies essentially became captives of the folks minting the securities and just handed out great ratings like halloween candy.

The Fed and the money printing and all that -- concerning as it all was -- really had more to do with making sure the national banking industry and therefore the currency didn't fail. There was a moment there when it really felt like a financial 9/11... like everything could come crashing down all across the world as a result of something that happened in Manhattan.

It's just an anecdote, but I vividly remember the short-term credit markets freezing up and everyone collectively realizing that nearly every business in the country uses short term credit to manage cashflow so that they can decouple employee paychecks and infrastructure purchases from sales and client payments in terms of timing. Most people just didn't know that and, without credit to make the accounting process move fluidly, like half the country was looking down the barrel of "well, we'll pay you when we know we have money in the accounts."

It's easy to run the Fed down now, but we were one or two days away from a grim fable with an unhappy, bloody ending.

Comment Shades Of The 2008 Financial Crisis (Score 1) 39

This all powerfully reminds me of the deals the big banks like Lehman Brothers and Bear Sterns struck back in 2006 and 2007. If you're too young to remember that particular shitshow, the mortgage industry was fundamentally toxic and a bunch of securities were created by mushing bad mortgages in with good ones so that the combination looked secure enough to invest in.

And then THOSE securities were subdivided up and repackaged into even more securities. And so on. And so on.

Bad debt ended up "infecting" the entire market such that it was essentially impossible to invest in "safe" mortgages and so, when the collapse happened, many of the banks found out that the bets they *thought* they were making to hedge their bets on the risky side of the housing bubble were, in fact, just MORE BETS on the risky side of the housing bubble.

At this point it's essentially impossible to invest in technology without investing in AI which means its very hard to bet against AI in the tech industry. And that feels very, very dangerous.

Comment Write once, run anywhere - NOT (Score 1) 61

It's been a sh*show beyond belief with the applets, JNLP, stuff requiring older Java, browsers disabling support and all kinds of ancillary nonsense. Office for NT 4.2 (the first 32 bit one) runs on modern Windows with no shenanigans and it comes from more than 30 years ago. But nope, some older java is blocked beyond belief. They pulled even the Internet Exploder from Windows 10 with some update (WTF?).

Eventually the most straightforward way to run some Java code needed to manipulate some hardware ended up being a Windows 7 machine. Which then I replaced with a Windows 98 one which is spooky how quick and light it is, and bonus it doesn't have any security prompts you can't disable (no, I don't need to be told 1000 times that if some code comes over http it's unsafe, it was unsafe too the first time I clicked yes).

Comment Re:Someone please explain (Score 1) 19

Absolutely, it's not even a set fee for whatever purpose, you're basically engaging in a global bidding war to push your transaction. And even so, higher fees don't translate into any higher capacity at all, and these kinds of transactions are just the ones that are bound to come in insane bursts when the market shifts, it is hard to imagine something worse than blockchain for the stock market.

Comment But of course! (Score 1) 88

What's the point of having a national military if you can't use it to pump taxpayer dollars into corporate coffers?

*scenario*

"Fox company, we'll airdrop a licensed mechanic and a licensed parts salesman onto your position around 0930, as soon as they finish repairing some stuff the enemy captured last year and make their way back to our side of the lines. Division says hold your position as best you can until then -- and remind the riflemen not to use their weapons as clubs, as that will void their warranty. It would be better for the overall war effort to let you position be overrun."

"No, Davies can't fix the autocannon even if your lives depend on it. Division says to shoot him in the arse if he so much as touches it."

Comment Re:infrastructure remains (Score 1) 66

Better question is if you can drop a letter-shaped parcel to some post but not actually post-office and have it delivered to someone (ideally still to the post box, but it'll be the letter-shaped-parcels box I guess). And if you can how's that different from a regular letter, except that it's handled by that company.

Comment Re: Who thought this service was a good idea? (Score 2) 117

Actually that's the proper way to design these, of course with some kind of backup way in (usually via a PIN). Only emergency exits and similar should "fall open" in case of outages and even there of course great care should be taken so this can't be easily exploited.

Comment Re:Filming people getting CPR (Score 4, Interesting) 154

We need to stop pretending like it's perfectly OK to film strangers in public. Legal? Sure. Should you be doing it? 9 times out of 10, no.

It's long past time we had a real debate about the law, too. Just because something has been the law for a long time, that doesn't necessarily mean it should remain the law as times change. Clearly there is a difference between the implications of casually observing someone as you pass them in a public street, when you probably forget them again a moment later, and the implications of recording someone with a device that will upload the footage to a system run by a global corporation where it can be permanently stored, shared with other parties, analysed including through image and voice recognition that can potentially identify anyone in the footage, where they were, what they were doing, who they were doing it with, and maybe what they were saying and what they had with them, and then combined with other data sources using any or all of those criteria as search keys in order to build a database at the scale of the entire global population over their entire lifetimes to be used by parties unknown for purposes unknown, all without the consent or maybe even the knowledge of the observed people who might be affected as a result.

I don't claim to know a good answer to the question of what we should allow. Privacy is a serious and deep moral issue with far-reaching implications and it needs more than some random guy on Slashdot posting a comment to explore it properly. But I don't think the answer is to say anything goes anywhere in public either just because it's what the law currently says (laws should evolve to follow moral standards, not the other way around) or because someone likes being able to do that to other people and claims their freedoms would be infringed if they couldn't record whatever they wanted and then do whatever they wanted with the footage. With freedom comes responsibility, including the responsibility to respect the rights and freedoms of others, which some might feel should include more of a right to privacy than the law in some places currently protects.

That all said, people who think it's cool to film other human beings in clear distress or possibly even at the end of their lives just for kicks deserve to spend a long time in a special circle of hell. Losing a friend or family member who was, for example, killed in a car crash is bad enough. Having to relive their final moments over and over because people keep "helpfully" posting the footage they recorded as they drove past is worse. If you're not going to help, just be on your way and let those who are trying to protect a victim or treat a patient get on with it.

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