Federal Reserve To Use Internet For Money Transfer

An anonymous reader writes "According to the New York Post, the Federal Reserve (i.e. Alan Greenspan and Co.) is going to change the way that it transfers money between banks so that transfers now take place over the internet instead of via a private banking network. They aren't specifying the types of security measures that will be used (security through obscurity?) Am I the only one who thinks that this is a very bad idea? Might a DDOS attack on the Fed's computers bring down the entire banking system?" The banks have put some thought into security.

Comments

Incidentally, they're infringing on my patents

[Anonymous Coward]

I've patented the process of Sperm Banking over the internet.

Re:Incidentally, they're infringing on my patents

[jimicus]

Several porn sites have prior art.

Re:New Federal eBucks!

[eln]

Huh? I can go out and get some money with no gold to back up its value right now. All I have to do is go to an ATM.

Money hasn't been linked to gold since 1933, and hasn't been linked to any other thing of value at all, except other currency, since 1974.

The value of the dollar can rise or fall dependent on many different factors, but gold is not one of them.

Re:Possibly.

[TedCheshireAcad]

Republicans owe me an apology to this day for that one. Yes the only president to shoot missiles at bin Laden got shut down cause he had a blowjob. You owe me an apology, republicans.

We're sorry. Please accept this complimentary copy of Fahrenheit 9/11 and this gift certificate, which is good for one free vasectomy so that you will not further degenerate the human race. I know, threaded discussions are hard, try to stay on topic next time.

Re:Possibly.

[jcr]

the only president to shoot missiles at bin Laden got shut down cause he had a blowjob.

Two mistakes: 1) he didn't get shut down, he beat the rap. Formerly honorable members of his own party held their noses and voted to acquit him, in the name of party loyalty. I've never seen Roberty Byrd (D- w.VA) look more disgusted than he did in casting that vote.

2) It wasn't for the blowjob, it was for lying under oath. You're not allowed to lie under oath in this country, unless you can count on your situation being so embarassing to a major party that you can count on your buddies to give you a walk, even if it causes your VP to lose the upcoming election. (Blame Nader? Give me a fucking break.)

Clinton shot missiles at bin Laden.

Well, let's give him a gold star for effort, then! Perhaps if he hadn't gutted the intelligence services, he might have had a chance of actually killing the SOB by sending the air strikes when the asshole was in town?

-jcr