Alleged Ponzi Mastermind Hacked In Antigua

krebsonsecurity writes "Criminal hackers apparently involved in break-ins at several US financial institutions also appear to have dug up dirt on Robert Allen Stanford, a man slated to go on trial this month for his alleged part in an $8 billion Ponzi scheme. Quoting: 'In early 2008, while federal investigators were busy investigating disgraced financier Robert Allen Stanford for his part in an alleged $8 billion fraudulent investment scheme, Eastern European hackers were quietly hoovering up tens of thousands customer financial records from the Bank of Antigua, an institution formerly owned by the Stanford Group.'"

Comments

Re:Congress

[Zantac69]

Oh come on...SSA and medicare is not a Ponzi. Instead of the govt lining the pockets with cash defrauded from the tax payers...they are just pissing it away on a good cause. Thats hardly a crime, right?

*twitch twitch twitch*

Re:Congress

[wprowe]

Are you a US citizen? Are your parents old enough to draw social security, and use the medicare benefits? Do they use them? Have you looked at the cost of your parent's prescriptions? Could they afford them without Medicare and Social Security? I'm generally a fiscal conservative and opposed to raising taxes, more government, etc. I didn't vote for Obama. There are some programs that make sense, and these definitely help out people who need them. My mother-in-law would not have had the care she needed for multiple sclerosis had it not been for Medicare and Medicaid. She suffered from multiple sclerosis for 20 years. and was disabled and could not work for nearly a decade of her 20-year struggle with the disease prior to her death from complications related to MS.

By the way, your figures appear to be incorrect. Remember that social security and medicare are "pay as you go" programs where what is paid in by employers and employees gets paid out to current recipients. It isn't a savings account for you to bank on later. According the Obama's budget summary, social security will run $696B (not $14T), medicare will run $452B (not $76T + $18.6T). That website you quote doesn't even provide a reference to their sources of information. I looked at the President's actual budget. Don't believe everything you read on websites that try to convince you they have "the facts". Always look at where their "facts" are sourced. My numbers are from the White House web page on the President's budget at http://www.whitehouse.gov/omb/budget/Summary_Tables/.

There are plenty of places where Congress should chop. Take a look at the pork barrel projects in your own state that your own Senators and Representatives toss in to get funding. Take a look at the numerous failed social programs. Take a look at the Federal procurement guidelines and how much it cost us to make an actual procurement. There are so many ways that the Federal procurement process alone could be simplified that would eliminate an enormous amount of wasted spending. For example, a private sector company can by $100,000 in IT assets and have it delivered in a week or two. It takes six months in the Federal government, and reams of paper. The larger the price tag, the more paperwork and time required to make the acquisition. I've worked in both arenas and speak from first hand experience.

Also take a look at the money the US hands out all over the world, as well as the programs inside the US. There are great causes we should support. There are countries who need help. Unfortunately, there are also plenty of beneficiaries who should not be getting a dime but they have friends in high places.

The Federal income tax revenue, and income from foreign loan interest and import tariffs, is tens of trillions of dollars annually. It isn't that we don't have enough money to fund the things we need. It is that we fund too many things we don't need. That being said, social security, medicare and medicaid are not in the list of programs "we don't need". If your parents are recipients of any of these programs, ask them how they would be impacted without them.