Paul B. Farrell: How hackers can help us defeat Wall Street

[marmar]

By Paul B. Farrell, MarketWatch


SAN LUIS OBISPO, Calif. (MarketWatch) — “American capitalism is broken,” warns economist Peter Morici. Worse, American government is broken with “two bankrupt political parties bankrupting the country,” warns Stanford political scientist Larry Diamond. Why? Because Wall Street is broken: Our engine of capitalism is broken.

Morici warns that Wall Street’s insatiable gluttony is strangling America’s 8,000 regional banks: “About 3,000 regional banks face extinction, and ordinary Americans can only borrow money at government run Fannie Mae and Freddie Mac or at extortionist rates on big-bank-controlled credit cards.” Time to counterattack, or the clock runs out.

The plan? Hackers are America’s “Hail Mary pass” against Wall Street’s power play to rule America. In fact, hackers may be the only solution left, our last line of defense in this economic class war to save America. Hackers can operate like secret CIA special ops commandos to help take America back from the Wall Street Conspiracy of super-rich.

Yes, only solution. Why? Two bankrupt political parties. Forget gridlock, it’s worse. The GOP will restore Reaganomics for the rich. The Dems are proven gutless fighters. And an activist Supreme Court unleashed the floodgates for billionaires, foreign corporations and the U.S. Chamber of Commerce lobby to gain absolute control of Washington.

.....(snip).....

Fortunately there is a new frontier for hackers. America needs help now. Hackers love a challenge. Examples: Hackers could expose secret agreements between Wall Street’s co-conspirators, back-room deals with politicians and bureaucrats, lobbying payments and illegal campaign contributions, especially from foreign governments, encrypted emails, side dealings with short-sellers on derivatives, quant trading algorithms, return on investment, fee and compensation schedules, marketing scams manipulating the public, and all unethical or criminal plans.

Imagine the best of WikiLeaks and whistleblowers, but most of all, think “Robin Hood … performing a duty for the common good.”

The complete piece is at: http://www.marketwatch.com/story/how-hackers-can-help-us-defeat-wall-street-2010-11-08

[dkf]

1. I can't believe marketwatch is advocating hacking.

[leveymg]

2. Wow! That was published in The Wall Street Journal? Like full frontal in Primetime.

With HTML5, (almost) anybody can track anybody's web surfing habits. That might be a place to start. See, http://upload.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=9315156&mesg_id=9315459

If it's legal for corporations to do it to us, then we might as well reciprocate.

[marmar]

3. For some reason, they let Paul B. Farrell write these kinds of columns.....

...... but then again, his column is the most-read on the MarketWatch site. He's far more popular than the rest of the Kool-Aid pushers over there.

[leveymg]

4. Wanna bet that's a pseudonym? Brings to mind Dirk Diggler. (Actually he's a real person, but . . .

someone has a perverse sense of humor at the WSJ. I know that Murdoch does, and he now owns the place.)

[Occulus]

5. An all-out digital assault upon government AND corporate secrets?

Well, now.

That's bold.

[T Wolf]

6. #1) Without computers, all the manipulations of the financial criminal enterprises would

NOT BE POSSIBLE.

So, one obvious avenue of attack are the computers that control the economy.

Another are the individuals who profit from this corrupt system.

Both need to be attacked, by any means necessary.

[dixiegrrrrl]

7. don't think that has not crossed my mind...many times.

insufficient coffee edit

[marmar]

8. Oooh....Never post without a sufficient java boost. ......

..... In fact, I think I'll have another one for you. :P

[dixiegrrrrl]

13. Ironically, these times call for MORE java which has increased in price.

just when we need it most, it gets really expensive.

[Blue_Tires]

9. so much for the element of surprise...

and why would someone hack in just to expose some secret agreements? I'd just as soon have the hackers drain the Wall Street accounts, and the problem is solved...

[Edweird]

10. NYPA

[bemildred]

11. That's a great book. nt

[girl gone mad]

12. It's just a matter of time..

before someone in Russia or China makes the flash crash seem boring. I think a lot of people would be shocked at just how vulnerable those systems are.