Is It Time To Execute Equifax?

The Equifax hacking scandal just keeps getting worse.

So should we bring back the corporate death penalty and do away with this security threat once and for all?

According to Bloomberg, the credit reporting firm:

"learned about a major breach of its computer systems in March -- almost five months before the date it has publicly disclosed".

Equifax says insists that this incident was was separate from the now infamous hack that exposed the personal information of at least 143 million Americans - but sources say they likely involved the same perpetrators.

Enough is enough, if you ask me.

Is it time to give Equifax the corporate death penalty?

Comments

Scarabus's picture
Scarabus 3 weeks 4 days ago
#1

Tsk! Tsk! You know perfectly well that corporations aren't persons. The ones who deserve the death penalty are the corporate officers, CEO on down, who made the evil decisions.

Seriously, money is all they care about, so (a) fine the corporations enough that directors and shareholders will experience serious hurt, (b) fine/jail boards enough that other boards will protect themselves by draing their own little swamp, and (c) fine/jail officers seriously, including ripping gaping holes in their golder parachutes, (d) confiscate any bonuses or performance based goodies received by officers involved in destructive decisions.

P.S. No actual death penalties. One evil can't compensate for another.

stopgap's picture
stopgap 3 weeks 4 days ago
#2

I'm sure that every time we buy about anything or open any account, buried in the fine print, we sign some release that allows firms like Equifax to gather all our personal information, charge us to look at it and charge us to stop others from looking at it and then charge us again to allow others to look at it again. What a scam!!

One would think that a class action lawsuit could be brought against these companies if they are hacked and the info is used to steal identities or used to harm anyones credit.

But of course, addressing this problem would take politicians with a spine which is non existent. You have to wonder how these bastards can stand up at all. You would think that they are all just nebulas blobs that slither around on the floor of the congress. Actually, I guess that most of them are really snakes, some just more venomous than others.

ronsears 3 weeks 4 days ago
#3

Hi Tom,

It is very likely the Equifax hack is much worse than reported to date. Although we did hear a press report a few days ago using the word "rummaging around" in referring to the Equifax hacker's activities, and not just stealing data, no one is talking about the hackers CHANGING the content of credit reports.

Long story short, as part of updating the passwords on our long-established freezes on our credit reports, we found that my wife's financial records at Equifax had been changed. Her birthdate was removed from her file, leaving a blank data field.

We have spoken to at least 8 individuals (multiple conversations with our banks' fraud departments, Experian, Chase credit cards, Lexus/Nexus, FTC, CFPB) with extensive experience with financial reports, and none of them have ever heard of such core identity data being changed/removed from a 40 year plus established financial record, with current credit cards reporting monthly and including the birthdate as part of the identity data in their monthly reports. TransUnion and Experian had no such change.

This highly unusual missing data from my wife's financial files at Equifax implies the hackers were conducting probes to see what data they could change in credit reports. If you query a credit record with a blank birthdate field, it will report back as an invalid match, and the credit check will fail, and whatever new purchase or credit account you wished to open will be denied. I would hazard a wild guess that in Equifax's computer system it may be easier to blank a birthdate field then change the actual date, and still have the same net effect.

It is obvious why a public discussion of hackers' ability to change our credit files would be undesirable for Equifax and the financial industry in general. If this credit information can be changed at will, the entire US / World credit system would fail. For example, individuals with perfectly good credit would find their attempted purchases declined and their car insurance rates drastically increasing (because car insurance rates are based on Lexus/Nexus reports that are inturn build on credit data). Meantime, individuals with well-deserved terrible financial records, could suddenly find themselves with great credit scores. The system would lock up in days.

If you assume the Equifax hack was conducted by state actors, and consider other recent probe attacks on our electrical grid, power plants, water systems, etc., this takes on the dimensions of a wide-ranging test of how to bring our country to it knees without firing a single shot. This strong possiblity deserves a robust public discussion, not fearful suppression of "scary thoughts" by cowardly corporate managers and politicians.

May I suggest that over the next few months you ask the financial experts you have on your program about such hacker changes to financial data files, and perhaps initiate a discussion on your program to find out whether other listeners have found such "impossible" changes in their credit reports.

All the best, Ron

HotCoffee's picture
HotCoffee 3 weeks 4 days ago
#4

So who was it that gave the 3 credit angencies the right to collect our info to begin with?

It sure wasn't me.

randolphgarrison1@gmail.com's picture
randolphgarriso... 3 weeks 4 days ago
#5

As much as the republicans want us to think of corporations as humans, they are not. Death of a corporation is just selling off all it's possessions and data allowing the owners to be enriched even further. Then it is just renamed and starts again. The owners and operators of the corrupt corporation needs to be imprisoned in a deep, dark, dirty, hole for the remainder iof their lives. All their funds hidden away or transferred for their later use need to be taken, making their families suffer like the rest of us. Greed is diamond hard and runs deep, only harsh treatment will even scratch the surface. Lots of blood and pain is necessary.

Willie W's picture
Willie W 3 weeks 4 days ago
#6

The problem is not with Equifax. The problem is the banks that give away money to strangers who convince them that they are us. Then the banks come after us and demand that we fix their screw up. It's on them. How did it ever get turned around to be our fault? We deserve the benefit of doubt right up front. Especially these days.

Gary Batch 3 weeks 4 days ago
#7

The commercial use of the internet needs to be shut down. It can not be protect our citizens from fraud even if they don't use it.

changeX's picture
changeX 3 weeks 4 days ago
#8

Doesn't the Bible command us to worship the golden calf and then be rated on it?

deepspace's picture
deepspace 3 weeks 4 days ago
#9

All of the above: kill the corporation and spread its ashes so that it can't reanimate under a different name; prosecute and jail those responsible; force shareholders to take the haircut, without the protection of investment insurance, as stocks tumble and are retired by the SEC, so that the next time, they might think twice before investing with a corrupt, unaccountable company.

In addition to hefty fines, make such a grave breach of trust a mandatory jailable offense. At the very least, it should be an unambiguous, cut-and-dry Class D felony with a minimum of five years for each individual transgression -- swift justice that moves through the courts unentangled by frivolous legal technicalities dragging on and on.

For example of that not being the case, although charged with financial crimes of a much different nature, how long was screwball Martin Shkreli allowed to swagger around flaunting the law and common decency before he finally became Federal inmate #87850-053 in the Brooklyn prison? And that was just for being a beyond-the-pale douchebag Hillary hater on social media, unrelated to his beyond-the-pale greedy, Trump-like, megalomaniacal, white-collar criminal activity on Wall Street.

The easily prosecutable perps, also subject to class action lawsuits, would be any person or entity, private or public -- especially in the hack-happy online environment -- that collects, shares, or sells any personal data whatsoever without one's very explicit permission (and not just by clicking some big green, pulsating "accept" button that overlays tiny-print, eye-bleeding, legalese jargon that, by design, hardly anyone bothers to read).

Most importantly, educate and counsel as many consumers as possible as young as possible -- much like dry-out centers do for alcoholics and druggies -- on personal strategies to end dependency on debt-ridden lifestyles and overconsumption, which has transformed the over-billed "American dream" into a no-win nightmare for so many low-wage slaves living from paycheck to paycheck.

Such a vital education program absolutely should be augmented with very progressive tax policies, which would put more money into the pockets of consumers so that they won't be as easily tempted to purchase goods with credit cards, and which would ensure a more robust economy -- quite the opposite of the cynical and cruel GOP tax "reform" (Yeah right!) giveaway plan for wealthy political campaign donors.

That means reducing taxes across the board on the middle and lower classes while increasing taxes across the board on the wealthy, who command the lion's share of our nation's income and riches -- a process of re-redistributing that wealth back down to the 90 percent from whence it came and to where it rightfully belongs!

Specifically target the destructive patterns of debt behavior by the mega-wealthy. Start with tighter asset-to-debt ratio requirements and with behavior-altering fees levied on all individual stock transactions -- especially on lightening fast, automatic computer algorithms that can move huge amounts, sometimes big enough to affect the course of the entire market in one fell swoop in the blink of an eye, potentially causing massive instability.

Then start gunin' with even heavier transactional fees and taxes on phony-paper profits from all those many bewildering, largely unregulated, wildly speculative investment vehicles hidden behind complicated lingo-jingo, lurking in the shadow banking industry -- a quasi-legal, three-piece-suit crime syndicate spanning the globe of good ol' boys (and a few girls).

These high-octane, obsessed risk takers happily brought us the crash of 2008 and careened the collective economy of planet Earth into an ongoing, inevitable death spiral (just since 2000!), artificially inflating a paper-debt bubble to over $700 trillion, which is based on a worldwide GDP of only $75 trillion, approximately (Bank of International Settlements).

Astonishing! Greed begets greed at biblical proportions -- the grand finale, ultimate failure of unregulated capitalism run amok.

Other national policies to enrich and protect everyday workers and their families: a broad unionized workforce; higher wages and salaries; free healthcare (at the point of individual consumption); free higher education (at the point of individual consumption); more aggressive and highly enforceable consumer protection laws; term limits for Supreme Court judges -- a right-wing institution that has awarded itself (ever since 1803 in Marbury v. Madison) more power than both other branches of government put together, and that in nearly every case for the last several decades has ruled in favor of monopolistic corporations against the interests of the People; [Feel free to add to the above list here.].

Incidentally, it has been reported out that for years upper management ran Equifax like John Belushi's Animal House, ignoring repeated calls to upgrade their internet security systems that were woefully inadequate, playing fast and loose with people's information and government regulations, even taking insider trading to an unprecedented level. They also brazenly used the delay in reporting the breach to dump stock before it would likely crash. Then, once the jig was up, they tried to further cash in by charging their worried victims, who simply wanted to verify their credit reports, and by trying to lure them into yearly subscriptions.

Of course, rectifying our current sad state of affairs, as 2950-10K constantly reminds us, will NEVER happen unless America can conduct free and fair elections where every vote counts! On that score, the U.S. has sunk to third-world, one-party-rule status.

Hello, The Carter Center ...HELP!!!

https://www.cartercenter.org/peace/democracy/observed.html

Wet Willie's picture
Wet Willie 3 weeks 4 days ago
#10

"We deserve the benefit of doubt right up front. "

What? This is Capitalism.

We 'deserve' whatever they choose to give us.

And we damn well better LIKE it.....

KKKorps RULE!

Wet Willie's picture
Wet Willie 3 weeks 4 days ago
#11

This comment is sposed to be on a different comment. wtf?

Wet Willie's picture
Wet Willie 3 weeks 4 days ago
#12

"We deserve the benefit of doubt right up front. "

What? This is Capitalism.

We 'deserve' whatever they choose to give us.

And we damn well better LIKE it.....

KKKorps RULE!

Wet Willie's picture
Wet Willie 3 weeks 4 days ago
#13

Oh, goody. Wrong place. AGAIN.

deepspace's picture
deepspace 3 weeks 4 days ago
#14

Ha! Good enough to be repeated, Wet Willie! I inadvertently jumped past changeX.

Kilosqrd's picture
Kilosqrd 3 weeks 4 days ago
#15

Can we apply the same standards and outrage at the Federal Gov?

A list of gov agencies that have been hacked:

Dept of Energy

Federal Election Commision

USPS

NOAA

State Dept

DoD

IRS

Office of Personnel Mgmt

ErinRose's picture
ErinRose 3 weeks 3 days ago
#16

The bill of goods ALL of these corporations have sold the American public is that because they are businessmen, who know how to do business, we should all put our faith and trust in private sector corporations because they are the best of all possible options and always get it right. (Yuh, right.) How much more proof do we need to finally wake up to the fact that the private sector is populated by nothing but piratical thugs in business suits? Look at all of the oil "spills" from the massive Gulf spill by BP, to the oil spills occurring in North Dakota from DAPL, to the Valdez spill that to this day hasn't been properly cleaned up. Then look at Goldman Sachs and Wall Street in general with the mortage backed debentures and the bailouts there. Now have a look at our government which is owned and controlled by private sector corporates. No matter which direction you look, the corporate private sector has proved itself to be an anathema for the American public, if not the whole world at large. Once upon a time, ALL corporations were required to dismantle after 40 years of "doing business". This was to protect We, the People, from this corporate cabal from gaining too much money and be able to turn that purchasing power on American workers. But sleaze-bag politicians got into the Congress and were willing to change the laws in favor of the predators and the results are history. These businessmen have destroyed America. Personally, I think America is permanent toast. We haven't been able to get rid of them yet, they are still raking in obscene profits, and there is no sign of their abatement. While we piddle around over who will be a eunuch POTUS, absolutely none of the shakers movers or perpetrators have spent one day in jail. It must be the chem trails that are keeping everyone so complacent in the face of the biggest global rip-off heist the planet has ever known.

stopgap's picture
stopgap 3 weeks 3 days ago
#17

"Equifax" is coporate for, "FUCK EVERYBODY!!!"

robertgreen's picture
robertgreen 3 weeks 3 days ago
#18

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deepspace's picture
deepspace 3 weeks 3 days ago
#19

stopgap. Indeed! "Equifux" --an equal schlonging for all!

How do you uncook toast? Psycologically, of course, it's always wise to maintain a healthy and realistic balance between pessimism and optimism; yet, unfortunately, every morning the evidence mounts, illustrating in stark terms that ErinRose's (as well as other's) bleak assessment of America is, in all likelihood, correct. What the hell happened to the soul of our nation?

By extension, every morning the world wakes up to increasingly dire headlines exposing the nearly irreversible ravages that are the direct consequences of the naked ambitions and egregious behavior of the excessively rich and powerful, who only seek more and more riches and power as their raison d'être.

The evidence is hard to ignore -- from extreme wealth disparity and the accelerating erosion of society's foundation, to the nonstop plundering of resources and the endless escalation of war toward its logical conclusion of nuclear annihilation, to planet-wide environmental degradation on a heretofore unimaginable scale and the very real, foreboding probability of a major mass extinction event, which may already be underway given the alarming numbers of species having already gone extinct in just the last 50 years.

This morning, buried in the middle of yet another article about yet another attempt by Republicans and Trump to commit that which can only be described as slow-motion genocide against a much maligned group of their fellow citizens -- whose only commonality is the sin of being too poor to afford predacious, unsubsidized private healthcare insurance premiums -- there was one throwaway line that seemed to say it all, that hard truth of American politics seldom acknowledged by corporate media:

"Doug Deason, a wealthy Dallas businessman who manages money for his billionaire father, said he had formed a loose-knit coalition of donors who warned senior Republicans — including Senator Mitch McConnell of Kentucky, the majority leader — that contributions would dry up if Congress did not overhaul the tax code and repeal the Affordable Care Act."

"Why the Latest Health Bill Is Teetering: It Might Not Work" by Sheryl Gay Stolberg and Robert Pear. NYT; 9/23/17. https://www.nytimes.com/2017/09/23/us/obamacare-repeal-graham-cassidy-mccain-trump.html?mcubz=1

There you have it: too much private and secret money in politics -- how the soul of our nation was lost.

Every morning, wingers (and all of us) should and must come to grips with a straight answer to this fundamental, age-old question, which won't be heard on Fux News or any other corporate propaganda source:

Does OUR (not "the") government corrupt private industry, or is it the other way around?

HotCoffee's picture
HotCoffee 3 weeks 3 days ago
#20

They Just Started Selling Breathable AirSeptember 21, 2017 1 Comment

The global banking cartel, which is sitting at the top of all the megacorporations running the whole planet, is running out of options to squeeze and milk the population. They just started packing and selling air from the Swiss Alps.

A bad sign of worse things to come.

A Swiss start-up is bottling fresh air from Switzerland to sell to residents of heavily polluted cities like those in China and India.

According to the company, the air is collected from various locations around the Swiss Alps and compressed into an aerosol can. It comes with an attached face mask to assist with breathing.

A seven-liter can of air cost 19.95 Swiss francs ($21) and contains enough air for over 120 breaths, which is around ten minutes of use.

“This product is for a population who live with terrible pollution every day, a pollution that may shorten their lives and cause debilitating health problems. One can of Swiss air is not the answer to their problems, but it is so nice to be able to breathe clean, fresh air even for a little while,” said the company’s CEO Danny Wurr.

Wurr said he expected his new company to become “a major world player in the new breathable air market,” confirming the first batch of orders had been already completed. He added the company is seeking investors to facilitate its rapid growth.

http://myeclinik.com/they-just-started-selling-breathable-air/

I guess they aren't being sprayed with Chem trails????

Tacoma Liz's picture
Tacoma Liz 3 weeks 3 days ago
#21

I really, really wish someone would have their work proofread before posting.

changeX's picture
changeX 3 weeks 3 days ago
#22

First we must run it though a source-to-source compilation step.

It turns out that the result of the compiler is "equitablefacts.exe"

Ok, now it is executable.

Conservatives supposedly hate freeloading. So why are they trying to legalize it?

Conservatives supposedly hate freeloaders.

So why do they support right to work laws - which literally legalize freeloading?

Our nation's nine unelected monarchs on the Supreme Court are poised to deal yet another blow to organized labor.

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