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New Legislation Would Punish Mishandling of Private Data
An anonymous reader writes "A bill introduced Thursday by Senator Richard Blumenthal (D-CT) would regulate the handling of consumers' private data and punish companies who screw it up (e.g. Sony). 'These rules would require companies to follow specific storage guidelines and ensure that personal information is stored and protected correctly. Companies that do not adhere to these security guidelines could be subject to stiff fines.' Blumenthal told the NY Times, 'The goal of the proposed law is essentially to hold accountable the companies and entities that store personal information and personal data and to deter data breaches. While looking at past data breaches, I've been struck with how many are preventable.'"
insecurity due to evil intent or incompetence, corporations will now have to follow rules made up by the most incompetent group of people on the planet?
Running with Linux for over 20 years!
Put the corporate officers in jail - make the minimum sentence mandatory. It needn't be long. Hold people in power responsible and you'll see action.
Business will make a value judgment based on the cost - $5,000,000 potential fine or $300,000 in IT changes means it happens. $5,000,000 fine or $3,000,000 in IT changes and all of a sudden it's not so clear cut. CEO and CIO guaranteed to get 6 months to 5 years in a federal pen for non-compliance and that IT change could cost $30,000,000 and it would be item number one on every single board meeting agenda until the transition is complete.
Is it just my observation, or are there way too many stupid people in the world?
Additionally, the world is far too complex for any set of rules to cover all the cases. The greater the complexity of the rules, normally proportional to the age and size of the bureaucracy producing them, the higher the rate of perverse consequences. For example, the FDA is no responsible for most of the deaths around the world, all due to "'that drug doesn't exist yet" or "you can't afford the drug".
Thus, regulations NEVER work, always have unexpected and/or perverse consequences.
Name a set of regulations that work. Provide an economic evaluation of their consequences vs 'market solutions'.
What a logical clusterfuck.
Regulations NEVER work?
Is your drinking water clean? Is there lead in your paint? Is melamine used as a filler in your food products?
Did you have to work 12 hour days in an unsafe factory starting at the age of 8?
Your question is just another version of "What have the Romans ever done for us?"
The answer is "a lot" and whoever modded you up should be ashamed of themselves.
[Fuck Beta]
o0t!