Network Archives

G8 to clamp down on tax avoidance

"On Thursday, a U.K. parliamentary committee said that Google Inc. has aggressively avoided paying corporate taxes in Britain, and criticized the U.K. tax authority for failing to challenge the Internet giant about its tax arrangement. Late last month, U.S. lawmakers blasted Apple for failing to pay U.S. taxes on billions of dollars in overseas income. Google said that it complies with all U.K. tax rules, and Apple’s CEO Tim Cook told senators that his company pays all the taxes it owes. The problem for companies like Apple is the U.S.’s tax system. Cook made it plain that the 35% corporate rate is too high to bring some profits back from overseas." Continue reading →

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How Dozens of Companies Know You’re Reading About Those NSA Leaks

"As news websites around the globe are publishing story after story about dragnet surveillance, these news sites all have one thing in common: when you visit these websites, your personal information is broadcast to dozens of companies, many of which have the ability to track your surfing habits, and many of which are subject to government data requests. It takes very little information about your web browser to build a unique fingerprint of it. See EFF's Panopticlick website to see how unique and trackable your web browser is even without the use of tracking cookies. You can read more in our Primer on Information Theory and Privacy." Continue reading →

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3 NSA veterans speak out on whistle-blower: We told you so

"When a National Security Agency contractor revealed top-secret details this month on the government's collection of Americans' phone and Internet records, one select group of intelligence veterans breathed a sigh of relief. Thomas Drake, William Binney and J. Kirk Wiebe belong to a select fraternity: the NSA officials who paved the way. For years, the three whistle-blowers had told anyone who would listen that the NSA collects huge swaths of communications data from U.S. citizens. They had spent decades in the top ranks of the agency, designing and managing the very data-collection systems they say have been turned against Americans." Continue reading →

Continue Reading3 NSA veterans speak out on whistle-blower: We told you so

Body scanner ruling could squelch NSA domestic spying

"A high-profile group of technologists and privacy advocates is attempting to halt domestic surveillance of Americans through a clever twist: using federal bureaucratic rules against federal bureaucrats. In a request today to National Security Agency director Keith Alexander and Defense Secretary Chuck Hagel, the group argues that the NSA's recently revealed domestic surveillance program is '' because the agency neglected to request public comments first. A federal appeals court previously ruled that was necessary in a lawsuit involving airport body scanners." Continue reading →

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America Falls Behind in Creating Rich Entrepreneurs

"The creation myth of American wealth is almost always rooted in the entrepreneur. It's the two kids who start a computer company in their garage or dorm room. Or the former standup comic who creates form-shaping undergarments, or the South African immigrant who creates a new electric car and private space program. But despite the high-profile examples, America may actually be falling behind the rest of the world when it comes to creating entrepreneurial wealth. A new study from Barclays, 'Origins and Legacy: the Changing Order of Wealth Creation,' finds developing countries now lead the U.S. when comes to wealth creation by entrepreneurs." Continue reading →

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Tired German bank employee naps on keyboard, transfers $293 million

"An obviously tired German bank employee fell asleep on his keyboard and accidentally transformed a minor transfer into a 222 million euro ($293 million) order, a court heard. The Hessen labour court heard that the man was supposed to transfer just 62.40 euros from a bank account belonging to a retiree, but instead 'fell asleep for an instant, while pushing onto the number 2 key on the keyboard' — making it a huge 222,222,222.22 euro order. The bank discovered the mistake shortly afterwards and corrected the error. The case was taken to court by the man’s 48-year-old colleague who was fired for letting the mistake slip through when verifying the order." Continue reading →

Continue ReadingTired German bank employee naps on keyboard, transfers $293 million

U.S. charges eight hackers over alleged cyber theft of at least $15 million

"Federal prosecutors in New Jersey on Wednesday unveiled criminal charges against eight people accused of trying to steal at least $15 million from U.S. customers in an international cybercrime scheme targeting accounts at 15 financial institutions and government agencies. U.S. Attorney Paul Fishman said the conspiring hackers gained unauthorized access to computer networks, diverted customer funds to bank accounts and pre-paid debit cards and used 'cashers' to make ATM withdrawals and fraudulent purchases in Georgia, Illinois, Massachusetts, New York and elsewhere." Continue reading →

Continue ReadingU.S. charges eight hackers over alleged cyber theft of at least $15 million

Name That Black Swan

"You might argue that a black swan event could occur at any time. That's true. But our current fiscal, monetary, and economic circumstances are so tenuous that the possibility of a black swan event hitting our economy is greater than usual. Indeed, the number of anomalous events that could take place is large enough that collectively they represent a high probability. And since we all live and work within an economic system and use money every day, the impact to us as individuals could be severe. So the question is this: what data are available now that show where we are most vulnerable to experiencing a black swan event?" Continue reading →

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Welcome to the ‘Glock Block’: Oregonians are no longer calling the police, arm themselves instead

"Frustrated by an increase in petty crime, residents of an Oregon neighborhood have decided to arm themselves instead of calling the police. Residents of a Jennings Lodge neighborhood in Clackamas county, Ore., have put up fliers advertising their new policy, calling themselves the 'Glock Block', according to KOIN News. 'This is a Glock Block,' the fliers read. 'We don't call 911. Along with some of her neighbors, Coy Toloman has put up the fliers and gotten a concealed carry permit with the hopes of deterring criminals. While the increase in neighborhood crime is mostly petty, with incidents of vandalism and stolen law ornaments, Toloman has had enough." Continue reading →

Continue ReadingWelcome to the ‘Glock Block’: Oregonians are no longer calling the police, arm themselves instead

Rotting, Decaying And Bankrupt – If You Want To See The Future Of America Just Look At Detroit

"Detroit Emergency Manager Kevyn Orr has submitted a proposal that would pay unsecured creditors about 10 cents on the dollar. Similar haircuts would be made to underfunded pension and health benefits for retirees. Orr concedes that there is still a '50-50 chance' that the city of Detroit will be forced to formally file for bankruptcy. But what Detroit is facing is not really that unique. In fact, Detroit is a perfect example of what the future of America is going to look like. We live in a nation that is rotting, decaying, drowning in debt and racing toward insolvency. So don't look down on Detroit. They just got there before the rest of us." Continue reading →

Continue ReadingRotting, Decaying And Bankrupt – If You Want To See The Future Of America Just Look At Detroit