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Anonymous Threatens Robin Hood Attacks Against Banks

gManZboy writes "Just in time for the holidays, hacktivist collective Anonymous has announced that it has teamed up with like-minded group TeaMp0isoN to donate to charity. The catch: they're using stolen credit data from big banks to make donations, in a campaign they're calling Operation Robin Hood. Is the #OpRobinHood campaign for real, or like previous threats against Wall Street and Facebook, just another hoax? Aesthetically, at least, the OpRobinHood video ticks all of the traditional Anonymous aesthetic requirements: a mashed-up 'p0isoaNoN' logo (green on black), a liberal dose of swelling choral music (via that movie trailer staple 'Europa,' by Globus), together with selected clips of Kevin Costner as Robin Hood: Prince of Thieves."

529 comments

  1. Ready, fire, aim by russotto · · Score: 5, Insightful

    OK, so banks get screwed, but charities get screwed too. Unless they're "donating" to the RIAA charity fund, this seems pretty evil in itself.

    1. Re:Ready, fire, aim by masternerdguy · · Score: 5, Insightful

      This is fucking great, now anon is going to get some awesome new laws passed to hurt us even further.

      --
      To offset political mods, replace Flamebait with Insightful.
    2. Re:Ready, fire, aim by Anonymous Coward · · Score: 1

      These groups of hackers are idiots, like most hackers, this is "attack" is going to do nothing, a lot like these idiot protesters. The only way to make an impact is by numbers and ousting the idiot politicians, and or by violence like the military uses. Only problem with that kind of attack, the government can use military force to stop you, because they have greater numbers. And because we (U.S citizens) gave up our civil liberties for the Patriot Act, we would be terrorists for doing so. So I am not sure why this hacker group would even entertain a pathetic thought of calling themselves Robin Hoods.

    3. Re:Ready, fire, aim by Anonymous Coward · · Score: 4, Insightful

      First they ignore you,
      then they laugh at you,
      then they fight you,
      then you win.

      Of course spineless always passive losers like you, with their crab mentality, will never know that, since you would never dare to endure a short period of bigger pain, but, in your cowardly short-sightedness, choose to live in the usual pain forever.

      TL;DR: No pain, no gain, you sissy!

    4. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      This would be the excuse, not the reason.

      Those laws were coming anyway, because the people who buy and sell laws, want them.

      If you could prevent them without Anonymous making a fuss, then you would be able to prevent them now. But you can't.

    5. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      The words "frame job" spring instantly to mind. What better way to gin up public support for insane new laws than have the FBI/NSA come up with something like this?

    6. Re:Ready, fire, aim by mbkennel · · Score: 5, Funny

      First they ignore you,
      then they laugh at you,
      then they fight you,
      then you get the attention of Fox News,
      then you get incinerated by a Predator drone.

    7. Re:Ready, fire, aim by thogard · · Score: 4, Interesting

      The charities will be worse off since the banks will take the money back and then charge the charity a charge back fee. This action could bankrupt some charities.

    8. Re:Ready, fire, aim by Anonymous Coward · · Score: 4, Insightful

      Ever heard of the civil rights movement? They cause change without ousting politicians or using force. It's called civil disobedience, and it's proved effective time and time again. By making ourselves heard (me included) Occupy is waking people up from their fantasy land where government and corporations aren't screwing us. When people see how crazy the 1% gets when their power and money is threatened, they will stop being passive and hopeful, and start taking action.

      Then, then numbers will grow. The more people they harm, the more will rise up to take their place. Take action and do something YOURSELF, or you have no right to judge those of us who are. Occupy, as well as anon are fighting for you and everyone else. It's not about taking sides, it's about doing whats right for everyones benefit.

    9. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      Did it occur to you that this is probably part of that disinformation program that was paid for by a consortium of bankers? I believe there was an article on /. about this just a few days ago. Sure, it targeted the Occupy protests, but don't you think targeting Anon would achieve the same thing--overblown response that further entrenches the elite?

      To be honest, I don't believe SHIT about what Anonymous is doing until they actually do it.

      Hell, burning a bank data-center would make more sense.

      (I'm loving some of these CAPTCHAs....exorcist this time. Exorcise the evil from the world!)

    10. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      Out with the corrupt lawmakers then...

    11. Re:Ready, fire, aim by Anonymous Coward · · Score: 5, Insightful

      If they steal credit card data, how is that going to hurt the banks ? It's just going to hurt the people whose credit card data was stolen.

    12. Re:Ready, fire, aim by cultiv8 · · Score: 4, Funny

      profit!

      --
      sysadmins and parents of newborns get the same amount of sleep.
    13. Re:Ready, fire, aim by colinrichardday · · Score: 4, Insightful

      Can they donate it Righthaven instead?

    14. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      Now its time for someone to offer up a bounty on every one of their heads D or A or watch with amazement as some good people get fucked over this again.

    15. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      New laws? Because what they're saying they're gonna do is, presently, legal?

    16. Re:Ready, fire, aim by Anonymous Coward · · Score: 4, Informative

      Banks refund their consumers in the case of stolen cards data / fraud.

    17. Re:Ready, fire, aim by cavreader · · Score: 2

      "the government can use military force to stop you, because they have greater numbers"
      This is absolutely false for the US and every other civilized country on the planet. Sure the military could kill a lot of people but massive human wave attacks launched by those willing to die for their beliefs can over come the military. Guerilla style attacks are rarely successful in removing a government. In a lot of countries, especially the US, I doubt the soldiers would obey orders to kill their own civilians indiscriminately. This has happened recently in both Egypt and Syria and also happened in the old USSR. Members of those militaires refused orders to kill large numbers of civilians. Egypt's entire military supported the protesters against government orders and a lot of Syrian soldiers have also refused to obey orders to kill their own countrymen. If the Chinese civilians every realize this fact they could successfully take down their government if pushed into a corner. That's why the Chinese government tries to offer more freedoms than your classic communist or non-elected type governments. If the people in Iraq during the Saddam era were so oppressed they could have removed him from power. The Iranians could also do the same thing if they realized and accepted that meaningful change requires sacrifice and were truly determined to change their governments. If you are being oppressed and denied basic freedoms by your government it takes more than a protest march or Internet campaigns to make real changes. However, the most important thing you need to do before making the ultimate sacrifices to take down a government is to have a clear plan of action to put in place after the current government falls. Even if these plans are temporary to ensure the countries basic operations remain in tact.

    18. Re:Ready, fire, aim by Serious+Callers+Only · · Score: 1

      I think this little ditty might be more appropriate - I fought the law and, the law won

      No pain, no gain, you sissy! - Precisely, if you want to fight a law, unjust or not, and have it overturned, you have to be prepared to suffer for it in the real world, and persuade enough other people to do it too, not try to subvert things from the comfort of your basement, or worse (as anonymous have done in the past) get some other sucker to pay for your actions instead (like the naive LOIC users).

    19. Re:Ready, fire, aim by lordholm · · Score: 1

      They would probably also reverse the charge, so the GP still have a valid point. The banks probably have reasonably automated systems for this. So the only one to suffer is the person who got his card stolen who have to go through all kinds of steps and waste time on reversing the charges.

      In this case, even the payee will not loose on it as they seemed to be charities; and as such they don't loose anything that they sold to the person with the stolen CC when the charge is reversed.

      --
      "Civis Europaeus sum!"
    20. Re:Ready, fire, aim by blanks · · Score: 4, Insightful

      I take it you have never had to deal with identity theft before?

      If your credit card / account was used in a different country or obviously not possible to be you making the transactions then you are damn lucky. In most cases though you are dealing with identify theft in your general area like a city or state. In these situations you have to prove that you are Innocent which is damn near impossible. In fact the credit card companies try to make it as difficult as possible for you to prove your Innocent.

      So during Christmas time and banks dealing with thousands (tens of thousands?) of extra malice credit card transactions on top of what they normally would at this time of year I can't imagine the banks trying to make it easier for their customers. It will be in fact the most difficult time of the year for the customers to deal with this.

    21. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      So some bank worker get some extra work and all credit card holders get a bit bigger interest rates next year. Great.

    22. Re:Ready, fire, aim by Anonymous Coward · · Score: 2, Informative

      First they ignore you,
      then they laugh at you,
      then they fight you,
      then they crush you.

    23. Re:Ready, fire, aim by Zironic · · Score: 1

      No, as you state yourself. The reason that there is a limit to the military's ability to keep the people under control isn't because they can't kill all the people, obviously they can, it is partly because the military itself consists of the people and partly because if you kill everyone, then you don't have a country anymore.

    24. Re:Ready, fire, aim by Wizard+Drongo · · Score: 4, Funny

      Providing the unseen "?" is "Sell drone-aircraft to the US Government", then yes, next step is Profit.

      Otherwise, next step is "Feed local bacteria for several weeks.".

      --
      The truth shall always be free: Boris Floricic is Tron.
    25. Re:Ready, fire, aim by bronney · · Score: 4, Interesting

      Your bank sucks bro. My DBS card center called me once on the suspicious activity right after the charge by an ID thief and with my approval proceed to reverse, cancel, cancel the card, issue me a new card in the mail while keeping the old account number all on the same phone call. I asked them how they know it wasn't me, they said they analyze my previous spending pattern (I only use my card for online payments) and notice this is a weird large sum offline payment. Totally wow'ed me omfg112 props!!

      In the fierce competitive banking environment such as Hong Kong, people actually work hard to win your business.

    26. Re:Ready, fire, aim by Anonymous Coward · · Score: 1, Interesting

      I'm not sure about the order. Obama had already had some people (including teenagers) murdered by predator drone before he went and laughed and joked about it at a press conference, saying that boys dating his daughters better be careful.

    27. Re:Ready, fire, aim by mwvdlee · · Score: 4, Interesting

      As GP said, if usage falls outside your normal usage pattern, they'll detect it.
      Chances are that if those black hats use a thousand credit cards, atleast a few dozen of them will look like normal usage patterns.

      --
      Slashdot social media options: AIM, ICQ, Yahoo, Jabber and Mobile Text. Why no MySpace?
    28. Re:Ready, fire, aim by mwvdlee · · Score: 4, Informative

      The recipient of an invalid transaction (in this case the charities) often have to pay expenses for the reversal.

      --
      Slashdot social media options: AIM, ICQ, Yahoo, Jabber and Mobile Text. Why no MySpace?
    29. Re:Ready, fire, aim by soundguy · · Score: 5, Informative

      Neither will the banks. 100% of all chargebacks/reversals are on the backs of the merchants, who not only lose the original transaction amount but also get saddled with a "chargeback fee" of an additional $20 to $75 for EACH transaction. The card-issuing banks, Visa/MC, and the merchant banks NEVER lose money. The only parties who will be harmed by this will be small businesses.

      --
      Nothing worthwhile ever happens before noon
    30. Re:Ready, fire, aim by Chas · · Score: 5, Insightful

      Civil disobedience my ass.

      There's NOTHING civil about stealing someone's money.

      Remember, this money isn't replaced in a person's account the second they report a theft. It's usually 7-10 business days (read 2 weeks).

      So if your account is drained around rent/bill-pay time, are you prepared live without access to your money for 2 weeks?

      Most of the "other 99%" simply ARE NOT. And that's who this bullshit is going to hurt.

      This is theft, plain and simple.

      The little guy whose money is stolen is hurt.
      The banks have to do more work because of this, raising fees.
      The places that get graced with the stolen windfall get screwed when that money gets charged back.

      All so that these spineless script-kiddies can have their moment on the news and imagine themselves to be "1337 H@x0rz".

      --


      Chas - The one, the only.
      THANK GOD!!!
    31. Re:Ready, fire, aim by Ihmhi · · Score: 4, Funny

      then you get incinerated by a Predator drone.

      A friendly Predator drone.

    32. Re:Ready, fire, aim by meerling · · Score: 4, Insightful

      Ok, so I agree with some of their targets, even if I don't agree with their methods, but this one is different.
      Yes, the big banks need to be brought to heel.
      So they want to do it by stealing money from people.
      The people they are stealing the money from are the customers, not the company, banks issue credit cards, not use them.
      Sure, the people can dispute the charges, but that doesn't always work, and then who gets screwed, either way, it's not the bank.
      Now for all those false charges that get reversed, that's money the charity sort of had, and then had it taken away. That's going to be a real pain in the neck for them and their accountants, and if there's enough of them, it's going to cost them enough money to cause problems. (That's problems for the charities, not the banks.)

      Yeah, real well thought out, punish the other victims, even if they aren't too bright, oh, and smack around the charities while you're at it.
      Try thinking these things through before going of half cocked.

    33. Re:Ready, fire, aim by qxcv · · Score: 3, Funny

      Sweet, let's all take Gandhi quotes out of context and use them to justify credit card fraud.

      --
      "The most dangerous enemy of a better solution is an existing codebase that is just good enough." -- Eric S. Raymond
    34. Re:Ready, fire, aim by AmiMoJo · · Score: 2, Funny

      then you get incinerated by a Predator drone.

      How long till one gets hacked for epic lulz? Fox News should be worried!

      --
      const int one = 65536; (Silvermoon, Texture.cs)
      SJW, n: "Someone I don't like, and by the way I'm a fuckwit" - AC
    35. Re:Ready, fire, aim by Dan541 · · Score: 2

      So I am not sure why this hacker group would even entertain a pathetic thought of calling themselves Robin Hoods.

      Because they have an ego to feed.

      --
      An SQL query goes to a bar, walks up to a table and asks, "Mind if I join you?"
    36. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      So what do you suggest we do about the banks then?

    37. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      Occupy, as well as anon are fighting for you and everyone else.

      No they aren't I have a job.

      Fuck you if you think I should share MY income that I WORKED for.

    38. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      > The banks have to do more work because of this, raising fees.

      Which is why you need to move to credit unions who aren't being targeted by this either.

      The plan they are proposing is a double edged sword run through the banks hearts. On one hand it causes losses to the banks on the other it pisses of their customers and push them to find safer alternatives. Or not. I'm no expert.

      Maybe this is just a smokescreen hoping to scare a few more people into leaving the banks and nothing will come of it.

    39. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      The world has changed, this isn't reality anymore. Instead of "then you win" it is now "then they pass laws that screw over everyone and send operatives in the night to silence you permanently."

    40. Re:Ready, fire, aim by ZeroSumHappiness · · Score: 1

      And unless you're making, at a minimum, $100k and have a significant personal portfolio then fuck you if you think they're trying to make you pay more than you already do.

    41. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      MAybe this will piss off the %1 of the bullshitters? They will get everything back. nothing will change. I dont see what is being done here...

    42. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      Is a dontation on the same legal ground as a payment? I would have thought it would be illegal for banks to charge back if the payment was a dontation. Can anyone calrify?

    43. Re:Ready, fire, aim by MinistryOfTruthiness · · Score: 2

      Ah, now it's $100k, eh? The definition of "rich" really keeps coming down. When Obama started his class warfare schtick, it was over a quarter million or something, then it was $200k, now it's apparently $100k....

      Who the hell are you to decide when someone makes too much money and should pay more? In your infinite wisdom, are you adjusting for cost of living per geographical area? How about inflation? Seems as inflation increases, your standard keeps getting lower. How DOES that work anyway? Is there a formula?

      Maybe you need to stop picking numbers out of your nose and exposing your jealousy for the world to see. By the way, in most major metropolitan areas, $100k would barely get you by. Certainly you'd never own even an average house, and you'd probably need a second income if you had kids to support. Just because a number *sounds* big to you in your area of the world doesn't mean that it is for everyone.

      --
      "I know that every word that man just said is true, because it's EXACTLY what I wanted to hear." -- Space Ghost
    44. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      not try to subvert things from the comfort of your basement

      Why not?

    45. Re:Ready, fire, aim by thogard · · Score: 1

      Yes a donation is the same. If a cardholder's card number is stolen and used for a donation then the money is returned and the bank can fine the charity a chargeback fee. This is legal in every country I know of and I've been dealing with credit card payment systems for more than a decade.

    46. Re:Ready, fire, aim by ZeroSumHappiness · · Score: 1

      I did say "at a minimum". If you would just assume that I'm reasonable and not an asshole maybe a real discussion could be had.

      Also, I'm actually quite aware of the issue of differing costs by region and would love to see that actually mean something in the national tax discussions but at the moment it's at the level of: "It's mine." "No, you should share, Bobby." "No, I don't wanna." "But Petey doesn't have anything." "Then his momma should buy some for him."

      So yes, while I understand I was being rather vulgar to an AC it was in an attempt to make him actually reconsider his original statement, not to try to set policy.

    47. Re:Ready, fire, aim by Ash+Vince · · Score: 2

      Remember, this money isn't replaced in a person's account the second they report a theft. It's usually 7-10 business days (read 2 weeks).

      When a retailer accidentally put a credit card purchase through twice and hence double billed my account it actually would have taken 11 weeks for them to refund the money if the bank had done it. In the end I managed to get the retailer to refund the transaction more quickly but the bank take ages to refund fraudulent transactions.

      --
      I dont read /. to RTFA, I read /. to offend people in ignorance.
    48. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      Then we will donate to RIAA!

    49. Re:Ready, fire, aim by Chas · · Score: 1

      Don't fool yourself.

      If these guys get their hands on a bank card, they don't care if it's to a traditional bank or a credit union. They're going to use it.

      --


      Chas - The one, the only.
      THANK GOD!!!
    50. Re:Ready, fire, aim by Chas · · Score: 4, Insightful

      On one hand it causes losses to the banks on the other it pisses of their customers and push them to find safer alternatives.

      No. It just pisses off the customers. Because the banks aren't to blame for a bunch of malicious, thieving jackasses pretending to be revolutionaries. While the customers are UPSET with the banks, the people they're going to be pissed off at are the thieves themselves.

      --


      Chas - The one, the only.
      THANK GOD!!!
    51. Re:Ready, fire, aim by rwv · · Score: 3, Interesting

      Assuming the jurisdiction of this 'hack' is in the USA, what about donating stolen money to the IRS? Best case -- lower national debt. Worst case -- getting the attention of the government money collectors.

      The Scrooges always say... if Warren Buffet thinks he should pay more to the IRS, why not just write the check? Well -- replacing "write a check" with "maintain inferior security of their monetary systems" works. Anonymous can pass along the money for Buffet and the Scrooges in kind!

    52. Re:Ready, fire, aim by Anonymous Coward · · Score: 1

      You're either plain wrong or your bank is terrible.

      It's extremely easy to prove that you didn't make the transaction when you ask them to show where you signed for it.

      CC companies will refund any contested charge unless there is significant proof that you DID make the charge.

    53. Re:Ready, fire, aim by realityimpaired · · Score: 1

      When a retailer accidentally put a credit card purchase through twice and hence double billed my account it actually would have taken 11 weeks for them to refund the money if the bank had done it. In the end I managed to get the retailer to refund the transaction more quickly but the bank take ages to refund fraudulent transactions.

      That depends on the bank, and your relationship with them. Most banks do suck, but when I contested a fraudulent charge on my Visa card a few years ago (a cell company I'd stopped doing business with 2 years prior decided to put through a $200 charge on my card for no apparent reason), I got the money back on my card within 20 minutes of picking up the phone to call them and contest it. It was with the caveat that if their investigation showed the charge was legitimate they'd charge back the money and apply an administrative charge, but I did get the money back right away.

      Some of us do still have cardholder agreements that put that kind of responsibility on the bank.

      That being said, the kind of "Robin Hood" attacks that are being discussed here are still naive, at best. They aren't going to hurt the banks. They will hurt the cardholders, and they will hurt the merchants, but the banks are just going to apply any costs incurred as a result of this crap to their customers. I find it difficult to believe anybody could really be stupid enough to think that this would actually *hurt* the banks, or that it's in any way similar to what Robin Hood did in the legends. Maybe, by their logic, the rich that they're stealing from are actually the customers of the banks, and not the banks themselves?

    54. Re:Ready, fire, aim by DaveGod · · Score: 4, Informative

      Maybe this is a UK thing but twice my card has been ripped off and both times Visa literally just read out each transaction one after the other and cancelled everything I replied "no" to. Took a matter of minutes with no kind of arguing. I didn't even have to queue for the handler. New card in the post day after next.

    55. Re:Ready, fire, aim by Anonymous Coward · · Score: 2, Informative

      If your credit card / account was used in a different country or obviously not possible to be you making the transactions then you are damn lucky. In most cases though you are dealing with identify theft in your general area like a city or state. In these situations you have to prove that you are Innocent which is damn near impossible. In fact the credit card companies try to make it as difficult as possible for you to prove your Innocent.

      This is not true of credit cards in the US. The burden of proof falls on the bank. If you say something is a fraudulent charge then they have to prove it wasn't if they want to fight you on it. This is written into law as part of the consumer protection stuff.

      If your credit card gets stolen the most you are liable for is $50. Again, this is written in law.

      This is why credit cards are much better for consumers than debit cards. Debit cards only offer whatever protection your bank is in the mood to give you, there are no laws whatsoever protecting you.

    56. Re:Ready, fire, aim by shoehornjob · · Score: 4, Informative

      If the card was not swiped they have to charge the merchant back unless the merch made a carbon copy to prove that the card was actually in the store.

      --
      "We are just a war away from Amerikastan. When god vs god the undoing of man." Dave Mustaine
    57. Re:Ready, fire, aim by TimeOut42 · · Score: 1

      You obviously don't have any credit cards. It does cost the consumer and the banks; most people have better things to do than spend time ironing out credit card problems caused by a bunch of snot nosed kids with their blankets around their necks pretending to be superheros. Also, really, calling people names? Do you think that adds to your credibility?

    58. Re:Ready, fire, aim by bluefoxlucid · · Score: 2

      I'm immune; I'm with a credit union they're not targeting with this ridiculous ass dance. Of course that's just a hassle; it's the charities that will pay the money out on this, and the banks that will rake it in.

    59. Re:Ready, fire, aim by Anonymous Coward · · Score: 0, Troll

      Most banks have automated fraud detection schemes like this. So take your hong kong and shove it up your chinese ass.

    60. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      First they ignore you,
      then they laugh at you,
      then they fight you,
      then you win.

        --Gandhi

      First they march you through hundreds of miles of jungle without food or water,
      then they shoot you,
      then they disembowel you,
      then you lose.

        --Gandhi, had the Japs won WW2

    61. Re:Ready, fire, aim by Anonymous Coward · · Score: 1

      In these situations you have to prove that you are Innocent which is damn near impossible.

      Bull.

      you are tracked with your cell phone, surveillance cameras and even others who see you at your location.

      Take the party accepting the charge - ask them to reverse the charge as it is not you, then sue.

      Avoid the bank - let the merchant know they are in YOUR target sites. The charge + the court costs - you'll get the reversal and if not, it will be an expensive lesson for the vendor

    62. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      Woo, preach on, Internet Tough Guy. You sure are badass behind your keyboard there.

    63. Re:Ready, fire, aim by DigitalGoetz · · Score: 1

      Wait, you store your actual cash inside a credit account? I thought that savings/checking accounts stored your money and credit lines were simply lines of accounting that you borrowed against and paid back (sometimes with interest/fees) at a later date.

      That said, if you get a credit card statement later in the month, you'll still have your checking/savings money to pay your bills and just dispute the credit card statement PRIOR to paying it in full. I mean, if you get a statement that says you owe $15 trillion dollars you're not going to go "well, guess I'll just mail the banks all that I have for now and hope i can pay it off before the sun explodes." No way. You'll call your credit card company or bank and dispute those fraudulent charges then and there.

    64. Re:Ready, fire, aim by bws111 · · Score: 2

      The civil rights movement had a clear message: people should not be denied opportunities that everyone else has simply because their skin is a different color. The protests were used to demonstrate how bad things really were - people were refused lunch service because they were black, people couldn't decide where to sit on a bus because they were black, etc. The protests appealed to peoples basic sense of decency, and it did not take long before they expressed their opinions as votes and change was made.

      Occupy, on the other hand, seems to have no message at all other than 'I am extremely envious of those few people who have more than the rest of us'. What, exactly, do you expect people to do with that message? What do you want the ultimate outcome of your 'movement' to be? The elimination of banks? The elimination of publicly owned corporations? How are your goals going to positively affect the day-to-day lives of the 99% you claim to represent? Am I going to have cheaper food? A better job? A bigger house? More leisure time? More toys? Where is the benefit to me?

      The Occupy protesters are the ones living in fantasy land if they think any significant portion of the population is going to be on their 'side' without having questions such as those answered. Real concrete answers, not just more name-calling and accusations of stupidity and blindness.

    65. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      But RIAA is not a charity..?

    66. Re:Ready, fire, aim by mjr167 · · Score: 1

      So what... the ends justify the means? You feel disenfranchised and put upon so you are going to beat me with a stick until I agree with you? How does that make you any different than the people you claim are beating on you? I work my ass off, I pay my mortgage. I don't have enough money to go spend 2 months sitting in the streets of New York crying about how little money I have because I bloody well like my life. Go get a job and be useful. Stop trying to tell me how screwed I am, cause frankly I don't give a damn. What gives you the right to decide what should make *me* happy?

      Anon are a bunch of criminals. Plain and simple. Just like Robin Hood was. Stealing is wrong. Stealing from poor people to give to rich people is wrong. Stealing from rich people to give to poor people is wrong. Period.

    67. Re:Ready, fire, aim by mcgrew · · Score: 2

      In these situations you have to prove that you are Innocent which is damn near impossible.

      My house was broken into and a box of blank checks stolen in April. I'm still dealing with the idiots at the Sangamon County State's Attorney office, who are harrassing me about -- get this -- bounced checks. Hell yes they bounced, I closed the account the day after the burglary. None of those bounced checks have my signature, so the State's Attorney is going to look damned foolish when the judge sees that the signature isn't mine.

      It would be nice if government would help victims of identity theft instead of victimizing them further. I don't know who I'm voting for next election, but I know good and well who I'm voting against.

    68. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      I'd like to champion the Occupy * cause, but hanging out with the bums in parks and being arrested en masse isn't my idea of something I want to follow.

      Occupy * is a noble cause, but it will have the same impact as the Iraq protests did, and that is zero.

    69. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      And if it happens too frequently, the banks raise the processing fees for the merchant which is then passed on to consumers.

    70. Re:Ready, fire, aim by Clived · · Score: 2

      I had that same experience with my bank over the last five years. some charges on the card did not fit the pattern so I was contacted told to cut up the card and I got a new one the next day. Nice to know that some banks have processes which actually work and staff who are still awake.

      My two bits

      --
      Clive DaSilva Email: clive.dasilva@gmail.com Ubuntu 18.10 Kernel 4.18
    71. Re:Ready, fire, aim by Bigbutt · · Score: 1

      It's one of the problems with self-checkouts. I can go to Home Depot and pick up several hundreds of bucks worth of tools and just swipe my card on the way out and be done with it. On the off chance it's too busy and I go through the checkout, the clerks check my signature maybe 50% of the time. While it's on the backs of the merchants, it's obviously not enough of an impact to force signature checks.

      [John]

      --
      Shit better not happen!
    72. Re:Ready, fire, aim by mcgrew · · Score: 1

      The bank isn't the problem, the government is. See my earlier response to the comment you're responding to.

      Can anyone explain to me why store clerks aren't required to look at a signature ID before cashing a check? I'm being prosecuted by a store I've never set foot in, in a toiwn I've never even driven through.

    73. Re:Ready, fire, aim by Domint · · Score: 2

      Wait, you store your actual cash inside a credit account?

      The issue is that many banks provide credit-backed (Visa, MC, etc) debit cards that are tied directly to one's checking/savings account. If that number gets lifted then yes, the money is drawn directly from the account in question. Granted, only an idiot would use their debit card in a way that exposes them to fraud like this, but it's not a matter of disputing a pending bill - that money is gone, and does not come back until an investigation is completed. I doubt that Anonymous cares enough to differentiate between the types of cards with which they are performing this stunt and exclude the debit card numbers.

    74. Re:Ready, fire, aim by mcgrew · · Score: 1

      I like the Dead Kennedies' version better.

      Drinkin' beer in the hot sun
      I fough the law and I won.
      I fought the law and
      I won.

    75. Re:Ready, fire, aim by operagost · · Score: 2

      And the customer doesn't have to call the bank to report the theft. And they certainly won't we stuck somewhere with no credit when they need it, having the cashier or waiter hand back the card when it comes up with insufficient funds. I'm not going to call them terrorists, but they're Robin Hood only if Robin Hood had stolen from your lord, spent the money however he saw fit, then kicked you in the nuts and fondled your wife before disappearing into Sherwood Forest.

      --

      Gamingmuseum.com: Give your 3D accelerator a rest.
    76. Re:Ready, fire, aim by operagost · · Score: 1

      It technically was zero, because he was in for less than a month before he decided to hike tobacco taxes. This has the effect of making poor people decide whether it's worth the cost and health effects, while the rich can continue to pony up if they wish.

      --

      Gamingmuseum.com: Give your 3D accelerator a rest.
    77. Re:Ready, fire, aim by Grishnakh · · Score: 0

      Yep, and the stupid liberals keep trying to tell us that Obama really is better than Bush.

      http://nothingchanged.org/

    78. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      You are a nut and I have every right to make that judgement. Your cause is NOTHING compared to the Civil Rights Movement nor the plight of Middle Eastern peoples who have been subject to death squads and what not.

    79. Re:Ready, fire, aim by operagost · · Score: 0

      Yes, minimum. We can do math! You most assuredly make less than $100K and therefore envy those people and wish to punish them. Also, before setting up a straw man you should note that those "rich" people donate a greater portion of their income to charity than the rest of us "poor" people.

      --

      Gamingmuseum.com: Give your 3D accelerator a rest.
    80. Re:Ready, fire, aim by Grishnakh · · Score: 1

      Maybe they could send the money to some offshore destinations, which could then ignore the demands to send the money back.

    81. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      And you think that money just comes other of the ether or are you naive enough to think they take that out of their profits?

      No, the customers will have to pay for it, just as a collective.

      If they REALLY want to hurt the banks and Wall St, why not get the bank accounts of Lloyd Blankfein or event Goldman Sachs in general? Is there a BETTER example of corporate greed at the expense of everyone else (including whole countries) than them?

    82. Re:Ready, fire, aim by mcgrew · · Score: 2

      These groups of hackers are idiots, like most hackers,

      I believe you may be confusing the word "hacker" with "script kiddie". Are you only here to troll? A hacker writes quick and dirty code (or modifies hardware to do what it wasn't designed to). Script kiddies take the hacker's code and break into computers with it.

      This is slashdot, not People Magazine. We are not the average who misuse a term they don't understand. Use the proper terminology. Or better yet, just go away.

    83. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      I live in the US and I just had some fraudulent activity show up on my Paypal credit card of all things; they called me up right away, froze my account (just the credit card part, not the whole Paypal account), and are now sending me a new card. None of the fraudulent transactions went through, so I didn't lose anything except access to my card while waiting for the new one.

      I don't know which banks here are as crappy as the OP contends about fraud prevention (and I'd like to know so I can avoid them), but this has happened to me several times before with other cards, some correctly, some not (I took a sudden trip and they called me up to make sure it really was me buying gas at a far-away gas station, for instance). These companies seem to be very good about looking for fraud and preventing it, because they don't want to deal with having to reverse charges and all that.

    84. Re:Ready, fire, aim by Jaysyn · · Score: 1

      OWS Goals

      "The mainstream media was declaring continually "OWS has no message". Frustrated, I simply asked them. I began soliciting online "What is it you want?" answers from Occupy. In the first 15 minutes, I received 100 answers. These were truly eye-opening.

      The No 1 agenda item: get the money out of politics. Most often cited was legislation to blunt the effect of the Citizens United ruling, which lets boundless sums enter the campaign process.

      No 2: reform the banking system to prevent fraud and manipulation, with the most frequent item being to restore the Glass-Steagall Act – the Depression-era law, done away with by President Clinton, that separates investment banks from commercial banks. This law would correct the conditions for the recent crisis, as investment banks could not take risks for profit that create fake derivatives out of thin air, and wipe out the commercial and savings banks.

      No 3 was the most clarifying: draft laws against the little-known loophole that currently allows members of Congress to pass legislation affecting Delaware-based corporations in which they themselves are investors. "

      http://www.guardian.co.uk/commentisfree/cifamerica/2011/nov/25/shocking-truth-about-crackdown-occupy?newsfeed=true

      --
      There is a war going on for your mind.
    85. Re:Ready, fire, aim by ceoyoyo · · Score: 1

      Get a new bank. A couple of years ago someone ran up a few thousand dollars on my credit card, most of it with iTunes but also some heavy equipment (!?) rentals in the same city. The bank asked me to sign a statement that the charges weren't mine and that was it.

    86. Re:Ready, fire, aim by Grishnakh · · Score: 1

      That's because signature checking is just plain idiotic. They need to abandon that practice and move to PIN numbers for verification, just like they do with debit cards; at least there, the card is useless unless you also know the PIN number, instead of expecting every single clerk to be a handwriting analysis expert. It'd help, however, if they moved to 6-digit PINS instead of the lame 4-digit ones they use now.

    87. Re:Ready, fire, aim by jahudabudy · · Score: 1

      You cannot simply pay the IRS more than they think you owe. If your account doesn't balance, they will send you a refund. I was audited once (I assume). The first I heard of it was when the IRS sent me a letter and a check saying I had misfiled my taxes and didn't owe as much as I had thought. Three years after the filing in question. I guess I didn't have to cash the check but I suspect it would not simply have gone away. I imagine the IRS are VERY interested in maintaining balanced books. If you want to donate to government, there is probably a different agency for that.

      --
      ...sometimes, in order to hurt someone very badly, you have to tell that person terrible lies. - PA
    88. Re:Ready, fire, aim by mcgrew · · Score: 1

      It's $300k, the minimum you earn and still be in the top 1%.

      Who the hell are you to decide when someone makes too much money and should pay more?

      Someone who's pissed off at you robber barons. And I'm with him there. The middle class has been stolen from since I was a kid, and it's about time something was done.

      in most major metropolitan areas, $100k would barely get you by.

      *sigh* You must be one of those millionaires who doesn't think he's rich.

    89. Re:Ready, fire, aim by Grishnakh · · Score: 1

      That's why I'm wondering if it's possible for them to funnel the money to some offshore destinations, such as in Russia. Then, the Russian companies can ignore the demands to send the money back, and the banks would be stuck with having to eat the loss under consumer-protection laws (which prevent them from charging the card-holder for fraudulent transactions).

    90. Re:Ready, fire, aim by ceoyoyo · · Score: 1

      Have you ever used a credit card? They don't extract money from your account, and so long as you report the fraudulent charges at your next bill you don't need to pay them at all.

      Not that credit card fraud is a good idea, but it's not the catastrophe for the victim you make it out to be.

    91. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      Or in this case, the charities these idiots are "donating" to. I normally read about anonymous with a mixture of "good on them even if I don't approve" and "well, dumb kids will be dumb kids until they have a life changing experience and grow up" (not all do).

      Now I see them as the criminals they are, who need to be severed from the internet and locked up.

    92. Re:Ready, fire, aim by sheehaje · · Score: 1

      've been hit by credit card fraud (was actually a debit card). Yes I got my money back, after weeks of fighting the bank. I'm not living bad, I try to live within my means, but something like this set me way back. I have a wife who lost employment and 2 kids. It wasn't an easy time at all when I had to scrape for diapers and formula for the baby. Granted, I made it out ok, and I'm not comparing my plight to the struggles of someone in poverty, but it wasn't just the bank that got hit. I got money back in my account, but they didn't cover late fees, bounced check fees from my utilities, and the overall hassle that I basically had to live for 3 weeks with no money and a family of 4. I wish anonymous would see who they are really hurting with this type of shit, especially seeing the options are getting slimmer and slimmer for not paying bills online and having some type of primary debit account.

    93. Re:Ready, fire, aim by repapetilto · · Score: 1

      Don't get tricked... Visa is not a bank.

    94. Re:Ready, fire, aim by Millennium · · Score: 1

      Well, yeah, but that's what happens when you have generations raised to think that Robin Hood was about economics.

    95. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      Ever heard of the civil rights movement? They cause change without ousting politicians or using force.

      They also did it with a defined goal (eg. integration of busses, integration of lunch counters, right to vote, etc.) They wanted something, they said what they wanted, and they went about doggedly trying to do it (ride, eat, vote) until they were actually able to. Eventually, they were.

      The Occupy protesters can't even say what it is they want, much less express a coherent plan for achieving it. Yeah, income disparity is an issue. What are you going to do about it? Protest? For what? Until the "1%" decide they don't want their money anymore? Good luck.

    96. Re:Ready, fire, aim by bws111 · · Score: 1

      No. 1 is a pipe dream. You are not going to get the money out of politics, nor should you. How is a candidate going to get his message out without money?

      No.2 is just blame shifting. The crises was not caused by bankers taking risks, it was caused by people taking loans they could not afford and then defaulting on them.

      No 3. is just bizarre. Little-known loophole? What is the loophole? Of course members of Congress can pass laws affecting corporations, and of course members of Congress have financial interests. Members of Congress also can pass tax laws, even though they pay taxes. Members of Congress can vote for military action, even though they have no family members in the military. Members of Congress have a personal interest in EVERY decision they make. Sometimes the interest is because they are personally affected, sometimes it is because they are not personally affected.

      And how is fixing any of those things going to improve the lives of the 99%?

    97. Re:Ready, fire, aim by Dop · · Score: 1

      Heh. I was a victim of paper check fraud as well. At one store the clerk asked the thief for their driver's license, wrote down the crook's real DL#, and still accepted my check even though the names didn't match. Even if it were law (maybe it is?) the clerks are too lazy to pay attention and half the time they know the criminal and are in on the deal.

      Walmart's collection agency was the worst. They had all these hoops they wanted us to jump through to prove it was a fraudulent charge, we filled it all out twice, referred them to the Detective in charge of our case, etc. The collections agency still wouldn't drop it. Finally they threatened that if we didn't pay they'd hand the case over to their lawyers. I responded "please do" and that's the last we heard from them.

    98. Re:Ready, fire, aim by DigitalGoetz · · Score: 1

      Ah, good point. I hadn't thought about those accounts and you're correct in that anonymous is dubious at best in their skill regarding differentiating those they steal from.

    99. Re:Ready, fire, aim by bws111 · · Score: 1

      Also, I forgot to point out that the fact you got such wildly disparate answers further cements the point - there is no goal. There are just a bunch of people complaining about whoever they blame their problems on.

    100. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      agreed. i'd like to see this "100k would barely get you by" asshole live in downtown seattle on 20k. because i have. that's a major city, with high rent, btw.

    101. Re:Ready, fire, aim by Jaysyn · · Score: 1

      No. 1 is a pipe dream. You are not going to get the money out of politics, nor should you. How is a candidate going to get his message out without money?

      1.) Most other countries (Britain, Australia, etc) get by just fine. Maybe you misunderstood the statement?

      No.2 is just blame shifting. The crises was not caused by bankers taking risks, it was caused by people taking loans they could not afford and then defaulting on them.

      2.) Giving people loans that they may or may not be able to repay is the very definition of a bank taking risk. That is the bank's job & responsibility. Due diligence and all that.

      No 3. is just bizarre. Little-known loophole? What is the loophole?

      3.) The little known loophole that allows congresscritters to legally do inside trading. There is legislation being drafted right now so it can be closed. It's been all over the news for the past two weeks. Commenting on something we know nothing about, are we?

      --
      There is a war going on for your mind.
    102. Re:Ready, fire, aim by Nationless · · Score: 1

      Wait, is friendly fire on? Games seem to be forgetting about this function lately...

    103. Re:Ready, fire, aim by tlhIngan · · Score: 2

      It's one of the problems with self-checkouts. I can go to Home Depot and pick up several hundreds of bucks worth of tools and just swipe my card on the way out and be done with it. On the off chance it's too busy and I go through the checkout, the clerks check my signature maybe 50% of the time. While it's on the backs of the merchants, it's obviously not enough of an impact to force signature checks.

      That signature on the slip isn't for comparison purposes or even proving it's you.

      It's basically a contract that states by signing it, you agree to pay it. If you look at the slip, it'll say "Cardholder agrees to pay this outstanding charge" or words to that effect.

      It's also why things like "CHECK ID" are not valid in the signature panel of your card, and the retailer should call their credit card processor to decide what to do. Which may mean confiscation or destruction of the card. A retailer which doesn't risks losing the transaction in a dispute. (At the very least, they can refuse to accept it as it isn't valid).

      The signature panel on the card is used to show acceptance of the cardholder agreement (which a retailer should check to ensure the card is actually valid for the charge to be put on it). The signature on the slip is retailer's proof that you accepted the charge.

    104. Re:Ready, fire, aim by JustSomeProgrammer · · Score: 1

      its fucked me over for christmas presents this year. still dealing with a bit of the stuff that got canceled because of it.

    105. Re:Ready, fire, aim by Beerdood · · Score: 1

      Also important to note that the US citizens have the highest gun to citizen ratio on the planet - something like 9 guns for every 10 people. Sure, the US military has the biggest defense budget in the world and the tech is a higher level than the citizens, but if there were ever a Syria / Iran / Libya style revolution in the States, the government would topple a lot faster than any of those other countries. Guns vs high tech guns is a much "fairer" fight than Guns vs melee weapons & Molotov cocktails. Part of the reason the Iranian revolution attempt failed a couple of years ago from the election fraud was because the citizens basically had virtually no access to the weapons that the military had (maybe citizens weren't allowed to own them, not sure why exactly).

      Even if the US didn't have most of their troops deployed overseas, it's doubtful they would start to fire on their own countrymen here as the parent suggest. If the people in the US want the government out bad enough, there's no way the police & military would be able to stop them

      --
      Global warming and other natural disasters are a direct effect of the shrinking number of pirates - Gospel of the FSM
    106. Re:Ready, fire, aim by JustSomeProgrammer · · Score: 1

      Disclaimers:

      1. I make over $100k
      2. I live in Manhatten.

      I don't get by with as much breathing room as I should but it is a lifestyle I chose and honestly I could easily get by with a HELL of alot more breathing room by just commuting into work from Brooklyn or NJ. I do not kid myself into thinking I am not well off just because my monthly spending allowance doesn't allow me to buy everything I could possibly want to buy in a month. I know I am wealthy. I live in Manhattan. By myself. That alone beside anything else makes me wealthy. And the government knows it and I pay higher income tax just for where I live and I'm perfectly ok with that. If my taxes were raised a bit again I would also be ok with it. (A bit as being defined as a couple percentage points, not 10%)

    107. Re:Ready, fire, aim by colinrichardday · · Score: 1

      Dammit, I forgot to mention the end of http://www.imdb.com/title/tt0105435/

    108. Re:Ready, fire, aim by ceoyoyo · · Score: 1

      Because of a threatened attack by anonymous that hasn't happened yet? Or by credit card fraud in general?

      If the latter then you've either got a crappy bank and should switch, or you're depending on credit to buy presents, in which case you've got bigger problems and the card fraud might actually be doing you a favour.

    109. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      Then maybe they can donate to GOP/DNC political canidates. That should make for interesting reading.

    110. Re:Ready, fire, aim by Bota · · Score: 1

      Karma be damned... Die in a fire you rotten piece of shit.

      --
      King Kong Died For Your Sins
    111. Re:Ready, fire, aim by Jibekn · · Score: 1

      They are, when they don't, the onus for fraud is now on the store itself, and not the credit card company.

    112. Re:Ready, fire, aim by Jibekn · · Score: 2

      Doesnt work that way, if you can accept a credit card payment, then the credit card companies have a viable way to issue a chargeback, its really that simple. Go try and setup a way to accept a VISA payment, without VISA being able to charge the funds back, you wont be able to. You may find a way to get some middleman on the hook for accepting the payment, but that means you're just hurting his business, not the banks once again. Fact of the matter is if this goes forward, its going to prove to the world just how short-sighted and out of touch with the world anon really is.

      If by some miracle anon gets the money somewhere that the banks cant touch, and no legitimate company is on the hook for a chargeback. Congrats! They cost the banks insurance companies money, nothing, NOTHING they can do, using illegal means can hurt the banks because of insurance.

    113. Re:Ready, fire, aim by gl4ss · · Score: 1

      provided that a bunch of the stolen cards are of the prepaid variety, part of the money would still go. and then there's the portion that doesn't got reversed.

      they would be better off targeting iranian held accounts, swiss accounts, tax haven accounts.. you know, money that doesn't exist legally and who's "owners"(in quotation because they don't legally own the money in the first place) are unlikely to make reversals that would need them to come out of hiding - if they're even capable of checking in time if their accounts were skimmed.

      I think the aim of this operation is to just fuck around with banks though. and if a charity gets money, uses it and goes bankrupt what are they gonna do? the charity guys can just start a new charity, are the banks going to go impound the soup the soup kitchen already donated? as likely as banks asking for bonuses back from their management teams that were hard at work at 2007!

      and whilst it is possible to move stolen cc info to real cash(as in real dollar bills) and then donate that, I don't think they'll(anon and teampoison) go that far. risks go up tremendously. how is it possible, to turn stolen cc's into money? well fuck, buy prepaid cc's with the stolen cc's. buy bitcoin with the stolen cc's. buy online-poker chips with the cc's and lose them on purpose to someone. there's a million and one ways to do it.. you could buy wow gold and sell that.

      --
      world was created 5 seconds before this post as it is.
    114. Re:Ready, fire, aim by Grishnakh · · Score: 1

      Ok, I'm obviously grasping at straws here, but what about if someone set up an offshore company with a merchant account to accept credit card payments, got Anon to send tons of fraudulent money through them, and then when VISA wanted the money, the company just disappeared? If the company's located someplace like Russia, the legal protections obviously aren't going to be very good as far as tracking down the people involved.

      As far as the insurance companies, if Anon succeeded in costing the banks $1 billion or whatever, wouldn't that cause the insurance companies to either drop the big banks, or drastically raise their premiums? Wouldn't that hurt them too (assuming the insurance companies only did this to the big banks affected)?

      I have insurance on my car, but it's not like I can walk away scot-free from an accident, saying "oh, my insurance will pay for it all!": my insurance will still jack up my rates to recover that money. Insurance isn't free.

    115. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      It's generally pretty obvious to predict what side of any discussion you'll come down in favor of, but...

      but they're Robin Hood only if Robin Hood had stolen from your lord, spent the money however he saw fit, then kicked you in the nuts and fondled your wife before

      You didn't have to include the stupid shit about getting kicked in the nuts or wife fondling to make your point.

    116. Re:Ready, fire, aim by s73v3r · · Score: 1

      My US bank does that too. In fact, they called me even on some valid charges that looked suspicious (filled some water jugs at a machine in Orange County, but the machine was billing out of Philadelphia).

    117. Re:Ready, fire, aim by s73v3r · · Score: 1

      Do you think your average store clerk would be able to detect forged signatures?

    118. Re:Ready, fire, aim by Jibekn · · Score: 1

      Unfortunately, because banks are mandated by federal regulations to be insured, their insurance doesn't work like ours(even though it bloody should, I'm federally mandated to insure my car) they dont deal with premium increases based on claims like we do, thier premiums are directly effected by the amount of money they handle.

      And you're right, if the number is high enough, they will put a big insurance company out of business, which is the EXACT thing that triggered the meltdown of 2008. So good job, if anon steals enough money they could trigger another global economic collapse,causing another huge bailout payment from the government that it cant afford, and bringing us one step closer to having to learn Mandarin.

      There really just isn't a winning scenario from the perspective of the little guy, and if anon had half a brain, they would understand this.

      And to address your walking away from an accident scot-free, if you cant do this, then you don't have enough coverage, I know if I got into an accident today, I would have 0 worry's about having to pay a dime. I would literally stop driving if it was bad enough to raise my premiums to unpayable levels, but I would never have a single worry about having to pay a legal settlement out of my own pocket.

    119. Re:Ready, fire, aim by operagost · · Score: 1

      I have received reliable information that they are, in fact, targeting credit unions today. So, they're either morons who don't know the difference or don't care. I'm leaning toward the latter, but does it matter? They are selfish, reckless people.

      --

      Gamingmuseum.com: Give your 3D accelerator a rest.
    120. Re:Ready, fire, aim by Grishnakh · · Score: 1

      even though it bloody should, I'm federally mandated to insure my car

      Actually, I believe that's a State law that requires you to have insurance. Still, you're right, their premiums should be based on their claims and their risk, just like every other type of insurance in the world.

      And you're right, if the number is high enough, they will put a big insurance company out of business, which is the EXACT thing that triggered the meltdown of 2008. So good job, if anon steals enough money they could trigger another global economic collapse,causing another huge bailout payment from the government that it cant afford, and bringing us one step closer to having to learn Mandarin.

      If our political and economic system is so screwed-up and corrupt that our economy is based on these big banks and these messed-up insurance companies that aren't allowed to charge premiums based on risk, so that one small group perpetrating a fraud on only a small handful of companies (that I can count on one hand) will wreck our entire economy, then maybe we do deserve to be required to learn Mandarin and hand control of our nation over to the Chinese. Obviously, we really aren't capable of doing things properly ourselves.

      And to address your walking away from an accident scot-free, if you cant do this, then you don't have enough coverage, I know if I got into an accident today, I would have 0 worry's about having to pay a dime.

      It's not about paying for that accident, it's about what you're going to pay in the future, after the accident. You might not pay a dime for your accident today, but your insurance company will get it back from you by raising your premiums, so that for the next several years you're paying a lot more, which makes up for the money they lost paying for your accident. Of course, you can get out of this by not driving as you say, but most people don't have that option realistically as they live too far from work to walk and public transit isn't practical.

    121. Re:Ready, fire, aim by JustSomeProgrammer · · Score: 1

      In general. The timing was bad and caused a couple bounced checks, I'm reimbursed for the stolen funds, but not the fees.

    122. Re:Ready, fire, aim by Shotgun · · Score: 1

      First they ignore you,
      then you go into a hissy fit, striking out foolishly and through ignorance harming the wrong party,
      then they laugh at you,
      then they find you and arrest as the ignorant criminal you are.

      --
      Aah, change is good. -- Rafiki
      Yeah, but it ain't easy. -- Simba
    123. Re:Ready, fire, aim by Gibgezr · · Score: 1

      Yes, but even in the case of "normal usage looking transactions", any decent credit card company will immediately refund the purchase if you call them and tell them you noticed a purchase on your bill that you did not make. I have done this before; never had an un-authorized purchase stay on my account for longer than it took to report, with both my Visa (Bank of Nova Scotia) and my AmEx accounts. The credit card companies want people to use their cards for things like online purchases, and react extremely quickly to reverse any fraudulent charges; they want you to have a good experience using their services. Interestingly enough, one fraudulent purchase someone made with my card info was a donation to the United Way: they were testing to see if the info was valid, and once the donation went through, they moved on to trying to buy cellphones at a Bell outlet. Now, fraudulent bank transfers from PERSONAL accounts are also reversed, but it can take a long time to make the bank do that. Fraudulent bank transfers from BUSINESS accounts are not protected, and often the bank will fight you in court and try to not not refund you. Brian Krebs has lots of info on fraudulent bank transfers on his blog at http://krebsonsecurity.com/ Buying stuff via credit card is the safest way to make online/electronic purchases: at least if the bad guys steal your financial information, you can easily/quickly undo the damage with a single phone call. Same goes for offline purchases as well, I suppose. It can take forever to get a bank to refund your money if the crooks used a card skimmer and grabbed your bank card info and PIN while you were buying gasoline at the local station, then emptied your account from a bank machine.

    124. Re:Ready, fire, aim by Shotgun · · Score: 1

      And you must be one of those (the majority of Americans according to the polls) who thinks that someone else should pay their bills.

      --
      Aah, change is good. -- Rafiki
      Yeah, but it ain't easy. -- Simba
    125. Re:Ready, fire, aim by Jibekn · · Score: 1

      Well, for me its a federal mandate(im not in America) but that's irrelevant, its still government mandated either way.

      Im still a little pissed that corporations (not even governments), in another country, caused a global economic crisis which deeply effected me and my family, and now the citizens of that country (arguably) are poking a stick at the system with what appears to be no foresight before it has a chance to be fixed.

      These people shouldn't be applauded or venerated as activists they should be arrested, and given very hard penalties as what they are planning to do is a potential act of terrorism(not kidding, what they are doing really is terrorism by definition) against the whole global economy.

    126. Re:Ready, fire, aim by Shotgun · · Score: 1

      No. 1 is a pipe dream. You are not going to get the money out of politics, nor should you. How is a candidate going to get his message out without money?

      Just a suggestion here: Maybe by doing like the Republican primaries this year?

      They've had so many "debates", which I think was driven by the talking head shows needing something fresh to talk about, are 30sec adds really going to have much effect? Would Herman Cain have gotten a rise in the poles if it were not for the "free" exposure? Newt is near the top now, and he hasn't really had to spend much of anything?

      Could the "overplayed debate" syndrome be the way out of the money driving politics dilemma?

      --
      Aah, change is good. -- Rafiki
      Yeah, but it ain't easy. -- Simba
    127. Re:Ready, fire, aim by Shotgun · · Score: 1

      2.) Giving people loans that they may or may not be able to repay is the very definition of a bank taking risk. That is the bank's job & responsibility. Due diligence and all that.

      The banks did due diligence. Then the Feds pushed through the "Community Re-Investment Act", saying we don't care about your due diligence, make the damn home loan anyway. And make the student loan, too. We'll guarantee you get paid pack, even if the idiot is a "majorette in Drama" (hence, the name "Guaranteed Student Loan").

      --
      Aah, change is good. -- Rafiki
      Yeah, but it ain't easy. -- Simba
    128. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      I am admittedly from an upper-middle class family, but I am going to have to agree with that survey: if you have to work for a living, then you aren't wealthy. You are certainly well-off, but not wealthy; there is still a significant tangible gain to standard-of-living to be had from a higher net worth. If your assets are $1.75 million, then, sorry, despite not living paycheck-to-paycheck you still need a job.

      That said, I am perfectly okay with taxing those people more. If they have savings in the millions of dollars, they can afford it, and taxes are too low.

    129. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      Would you want to be the bank that hit the news for sending a change back that bankrupted the march of dimes?

    130. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      The signature check is just to confirm that you've accepted the terms of your credit card.

      They're not allowed, as per their contract with Visa/MC/whoever, to ask for any other ID, and thus have no way to confirm the signature is yours.

    131. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      I'm sorry, I really don't get the "Occupy Wall St. has no clear message meme." They have a single very clear message: wealth disparity. The whole "we are the 99%" thing focusing on claiming 99% of the country is poor and that that is unacceptable. Their other points are all about ways they believe the government is setup to perpetuate wealth disparity along with issues they believe exist as a result of it, particularly in policies being set by the rich that hurt the poor (of course, those two sets of issues are related).

      Complaining that they are unfocused because they have so many subissues is at best missing the point: their point is that so many things that are wrong in this country can be traced back to the poor being powerless and making up an increasingly large proportion of the population.

    132. Re:Ready, fire, aim by Grishnakh · · Score: 1

      These people shouldn't be applauded or venerated as activists they should be arrested, and given very hard penalties as what they are planning to do is a potential act of terrorism(not kidding, what they are doing really is terrorism by definition) against the whole global economy.

      The thing is, if they're going to be locked up for terrorism, then the politicians and CEOs should also be locked up and given the exact same penalties, if not much worse, because it was their engineering of the system that caused things to turn out this way.

      are poking a stick at the system with what appears to be no foresight before it has a chance to be fixed.

      This is the whole problem: no one's fixing the system!!

    133. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      Well said man. My thoughts.

    134. Re:Ready, fire, aim by realityimpaired · · Score: 1

      No, but the Canadian Imperial Bank of Commerce, who issued my Visa card, is. If there's an issue with that card, I deal with the CIBC, not with Visa directly.

    135. Re:Ready, fire, aim by Kagura · · Score: 1

      And I suppose people who illegally download music, games, and movies aren't "pirates". Get a grip. Language changes, the word "hacker" no longer means "somebody who sits and hacks away at a keyboard programming things", and you know it as well as I do. Even on Slashdot the old meaning is rare to encounter.

    136. Re:Ready, fire, aim by similar_name · · Score: 1

      the clerks are too lazy

      While there are many lazy clerks it is a matter of motivation and experience. There are way more people that give a check (or more often a credit card) to a friend/son/daughter/secretary etc. to pick something up for them than people who present fraudulent checks/cards. After the 100th argument with someone because you didn't take their mom's check/card will dissuade many clerks from bothering anymore.

      Management can do a lot to help this. A well run and consistent policy will let people know what to expect. Every employee has to do the same thing. Management has to communicate what is expected from their employees. A poorly run store where the employee gets in trouble because Ms. Smith has been coming in for years and you didn't know her name is not the name on the check for a variety of reasons and the clerk won't bother anymore.

    137. Re:Ready, fire, aim by similar_name · · Score: 1

      It is still worth eating the occasional fraud rather than turn down the hundreds of purchases for people who left their id at home.

    138. Re:Ready, fire, aim by similar_name · · Score: 1

      Do you think your average store clerk would be able to detect forged signatures?

      Do you think you could? The signature on my license was created with a stylus. It looks different on paper.

    139. Re:Ready, fire, aim by Jibekn · · Score: 1

      I agree on both points for whatever its worth.

    140. Re:Ready, fire, aim by Pfhorrest · · Score: 1

      I live in Santa Barbara, one of the single most expensive places in the United States (apparently in the top ten according to a quick Google search). The median home price here is over a million dollars.

      I've gotten by quite comfortably making under $25k a year; I am "richer" than most of my peers, in terms of savings, despite having been below the federal poverty line for most of my life. And I'm not even as frugal as I could be: I eat out nearly every day, for instance, when I could be saving by cooking at home. But somehow I seem to be more frugal than everybody else who is balls-deep in debt despite making more than I do. I don't know what they spend it all on. New cars, expensive toys, alcohol? I drive used cars, run an old computer despite being a techie, and don't blow my paychecks trying to make every weekend one I'll never remember.

      If I could be making a more-average income of $50k a year, I would stand a reasonable chance of paying off a low-end home, even here in one of the most expensive places in the country, by the time I retire, while continuing my current comfortable-enough lifestyle the whole while. If I had a family to support, I would also have a second income from my spouse which would offset that cost.

      If I was making $100k a year, I could buy an average house -- here, in one of the most-expensive places in the country -- well before I retired. If I was making a quarter million a year, I could buy my (currently unconceived) kids their own house by the time they graduate college, and give them the kind of cushy life I never had being born to a family with nothing.

      I dunno what the fuck people are spending all their money on that could possibly make comfortable living on a six-figure income a stretch for them anywhere in the world, but jesus people, learn some restraint.

      --
      -Forrest Cameranesi, Geek of all Trades
      "I am Sam. Sam I am. I do not like trolls, flames, or spam."
    141. Re:Ready, fire, aim by Xest · · Score: 1

      So what you're saying is that rather than send the money to charities they should send it through Paypal, or even better, use it to buy shares or on other financial instruments if they want to be really disruptive?

    142. Re:Ready, fire, aim by spiralx · · Score: 1

      Except of course, that CRA loans were a small part of the sub-prime crisis, and had a lower default rate than non-CRA loans, which shows that the banks did indeed fail to give due diligence.

    143. Re:Ready, fire, aim by mcgrew · · Score: 1

      Yes, because the forrger hasn't seen the real one and it will look nothing alike.

    144. Re:Ready, fire, aim by mcgrew · · Score: 1

      And you must be one of those (the majority of Americans according to the polls) who thinks that someone else should pay their bills.

      No, I'm someone who thinks the rich should pay THEIRS. And one of their bills is the bill for labor costs. Underpaying someone is theft.

    145. Re:Ready, fire, aim by s73v3r · · Score: 1

      How can you be sure of that?

    146. Re:Ready, fire, aim by ULTRAJOE · · Score: 1

      PLEASE STOP repeating these lies!
      The CRA http://en.wikipedia.org/wiki/Community_Reinvestment_Act/ mandated only that redlining banks actually offer loans in those areas to those who were eligible ("consistent with safe and sound operation") - NOT that they were to offer any loan to any applicant.

    147. Re:Ready, fire, aim by Anonymous Coward · · Score: 0

      Ditto, I had to pay back over 10k in stolen credit card charges over my 5 years selling on ebay. Anon is doing nothing but pissing off the final recipient of the "donation". Those charities will loose the money then have to pay charge back fees.

    148. Re:Ready, Fire, Aim by DontLickJesus · · Score: 1

      Nah, I caught wind of some of this weeks ago on Twitter. Earnestly the whole lot of the group involved sounded a bit H4x0rish compared to the typical Anon talk. Also, the same group had some previous dealings with a free lance reporter whom had worked with the Huffington post. As I'm writing I realize none of these things specifically lends credibility, but take from it what you will.

      --
      Where genius and insanity become confused true wisdom is found
  2. I dont see any issues with them. by unity100 · · Score: 5, Insightful

    People who frauded entire world by selling water vapor through deriving assets to 60x their value and then lending 10 times nonexistent cash over them are still sitting pretty and posting record bonuses and profits. Thats 599 times nonexistent cash lent as loans to governments, megacorps, factories, organizations, whereas there was only 1 unit of asset to back them. the correct amount of lending should have been 10x at maximum.

    To simply put it in streetspeak - these people engaged in cash fraud. And they are drinking champagne in wall street. world suffers through their fraud. at this state noone can persuade me that what anonymous doing is wrong.

    1. Re:I dont see any issues with them. by Anonymous Coward · · Score: 5, Informative

      Actually, you can. Learn banking math.

    2. Re:I dont see any issues with them. by blahplusplus · · Score: 2

      No sir, it's you who needs to learn. You can start with canadian banking here:

      http://www.ohcanadamovie.com/

    3. Re:I dont see any issues with them. by Sarten-X · · Score: 4, Informative

      No, you really can't. However, certain institutions (the Federal Reserve Bank and other equivalents) can effectively create cash by creating an equal amount of debt, which works much like cash but with a negative value. Then that institution can issue both the cash and the debt to a bank, effectively giving a value of zero. If a bank wants to lend out the new cash it just received, it's still stuck with the equivalent amount of debt to pay back at some point. The bank could make arrangements with other banks to pay back the debt for them, and raise fees to cover the debt, but the debt still exists. There is no non-existent cash, and there is no free money, either.

      --
      You do not have a moral or legal right to do absolutely anything you want.
    4. Re:I dont see any issues with them. by Prune · · Score: 4, Informative

      It's good to see at least few slashdotters are aware of MMT principles. The only beef I have with your post is using the word debt, because even though it is debt in name, it's quite different from microeconomic debt in the way most people understand it. http://bilbo.economicoutlook.net/blog/?p=11218

      --
      "Politicians and diapers must be changed often, and for the same reason."
    5. Re:I dont see any issues with them. by Fluffeh · · Score: 5, Informative

      You can't lend non existent cash. Learn math.

      In banking terms, you can. You just overstate your "assets" to say that you have all this valuable stuff lying around that you can liquidate at any time - which means that you can then lend against those assets - which actually gives you more assets.

      Where the bankers got caught though was that their overvalued assets started to literally fall apart. By having to write off those assets, the cash pool started drying up. In a effort to curb losses, many bankers and investors started to dump their assets that they knew were shaky at best - which then caused a flood into a market further devaluing anything due to supply and demand.

      Where the world got caught though was when the bankers had screwed their own business up to a point where it was going to (and did in some instances) cause entire nations to become effectively bankrupt. The world (governments that is, not the ordinary folk) then had to bail out the banks under the theory of mitigation - where bailing out (through nationalization, or stupendous loans at next to nix interest) a bunch of banks, securities (oh, the irony of that) and fund groups was going to cause less harm then to allow them to crash and kill off retirements, investments and allow that cancer to spread at full speed into the everyday lives of pretty much everyone.

      tl;dr - You most certainly can lend cash that you don't have.

      --
      Moved to http://soylentnews.org/. You are invited to join us too!
    6. Re:I dont see any issues with them. by Anonymous Coward · · Score: 3, Interesting

      What I keep wonder about is even though money and dept might be in balance, what about the interest money which is collected ?

    7. Re:I dont see any issues with them. by Phleg · · Score: 1

      We need to get the bankers in touch with the physicists. With any luck, the principles of zero-point energy are analogous to the bankers' zero-point cash

      --
      No comment.
    8. Re:I dont see any issues with them. by kdemetter · · Score: 0

      So if i understand correctly, Anonymous is making sure we all pay something to charity.
      Knowing banks, they will probably use this as an excuse the raise there fees substantially.

      End results :
      - Charity gets more money
      - Banks get more money
      - regular people lose more money

      So pretty much the usual then, except that now charity also gets a chuck.

    9. Re:I dont see any issues with them. by Sarten-X · · Score: 2

      Charity income is normally tied closely to how much income "regular people" have. With regular people losing money, charities will lose money too. I don't see them coming out ahead at all.

      The only outcomes from this will be that the banks get some money from the fees associated with the initial transfers and the chargebacks, a bunch of immature Anonymous fans get to think they're doing something good, and the executives and spokespeople who actually know what's going on will complain more about Anonymous, fueling conspiracy theories everywhere.

      Anonymous is making the situation worse, as usual.

      --
      You do not have a moral or legal right to do absolutely anything you want.
    10. Re:I dont see any issues with them. by Anonymous Coward · · Score: 0

      Except for the real bonuses that were paid out as commission on trading this non-existent money.

    11. Re:I dont see any issues with them. by Anonymous Coward · · Score: 0

      Pretty sure that's how banks work. They lend money out to people who give it to other people that put it in banks that lend it out again and the cycle continues.

    12. Re:I dont see any issues with them. by 7-Vodka · · Score: 3, Interesting

      No, you really can't. However, certain institutions (the Federal Reserve Bank and other equivalents) can effectively create cash by creating an equal amount of debt, which works much like cash but with a negative value. Then that institution can issue both the cash and the debt to a bank, effectively giving a value of zero. If a bank wants to lend out the new cash it just received, it's still stuck with the equivalent amount of debt to pay back at some point. The bank could make arrangements with other banks to pay back the debt for them, and raise fees to cover the debt, but the debt still exists. There is no non-existent cash, and there is no free money, either.

      I think you are really confused.

      Let me ask you this. If the inflation rate is 3% per month and I'm able to secure a 30 year loan from the federal reserve at 0% interest, is the federal reserve not in effect GIVING me free wealth? The answer is an obvious yes. Please learn about rhetorical questions.

      Where is this wealth coming from? It's coming from the IDIOTS holding US dollars during that 30 year period, watching the value decrease through the inflation that is created by the zero interest rate federal loans of which they'll never get their hands on.

      Those idiots are YOU and I and everyone else in this country who is not a crony of the 1 party system.

      Now you might say "well why don't you invest in commodities then? you don't need no stinkin commodities crowding your living space, just buy into the markets and the futures and options."

      To which I reply "good Effing luck getting any of your wealth back from the hands of those in wall st"

      I've been through this before in other countries. The next step is to declare a bank holiday and freeze people's bank accounts so you can't retrieve your money. Freeze and confiscate their commodities. Freeze wages. Your debts won't be frozen. You will still have to pay your mortgage and your car payments, but your bank account will be frozen. The inflation will keep slicing away at your frozen salaries too. When it's all said and done, the debt of the 1% will be liquidated as it needs to be and the wealth of the 99% will no longer be in their hands.

      END THE FED.

      --

      Liberty.

    13. Re:I dont see any issues with them. by Alex+Belits · · Score: 1

      People doing most donating to charities are nowhere close to "regular people".

      --
      Contrary to the popular belief, there indeed is no God.
    14. Re:I dont see any issues with them. by Alex+Belits · · Score: 1

      Pretty sure that's how banks work. They pretend to have money so they lend money out to people who give it to other people that put it in banks that lend it out again and the cycle continues.

      FTFY. Creation of money should never ever be delegated to anything other than government's structures, working under clearly defined rules and operated by people who can't possibly benefit from any of this personally.

      --
      Contrary to the popular belief, there indeed is no God.
    15. Re:I dont see any issues with them. by SuricouRaven · · Score: 2

      You can lend money to one party that you borrowed from another. That's close. It's how the whole financial system works. Banks borrow money from people (Everything in a bank account) and lend it in the form of loans at higher interest rates. The middlemen in finance, just as they should be. It's when they start to chase high-risk high-interest loans that problems come.

    16. Re:I dont see any issues with them. by twocows · · Score: 5, Insightful

      I was with you until you started using terms like "leftist thugs." I'm not sure which "leftist thugs" you're talking about, but if you're just generalizing anyone with leftist views and calling them a "thug," you lose quite a bit of credibility. I don't agree with the action these people are taking. The leftists I side with don't victimize the small folk, we advocate for them. I'd prefer you not group us with them.

      I think in this case, it's just a bunch of short-sighted kids who want to make a difference. They're just going about it the wrong way. I can't really blame them when, despite the efforts of some really intelligent and good people on all sides, you've got movements like the Tea Party trying their absolute best to make everything into a black-and-white, us-versus-them shouting match.

    17. Re:I dont see any issues with them. by Anonymous Coward · · Score: 0

      You can't lend cash that you don't have.
      Sure, you can overstate assets, but where are the liabilities coming from?
      Those are the actual sources of cash, and that's the cash that's lend out never to return.

      Outstanding loans are assets.
      Savings accounts, promises to investors etc. those are liabilities.

      Whoever has a claim to the liabilities is losing out.
      That means pension funds, depositors, investors, stock holders.

      Now sure, you can overstate share holder's equity as well, but there's more to bookkeeping than the balance sheet.
      Examine the cash flow statement - you'll find that no cash is created out of thin air.

      Only the Fed, the Tresury and the IMF create cash out of thin air (think TARP and such), and we call that a bail out.

      Economists like to say that banks "create money" but that's double speak. They're counting your access to loans as money, because you could use credit to buy something. But when you do, you still have to repay it, and if you don't, turns out some one else is losing money. The actual monetary base is not expanded by fractional reserve lending at all.

    18. Re:I dont see any issues with them. by Sarten-X · · Score: 2, Informative

      If the inflation rate is 3% per month and I'm able to secure a 30 year loan from the federal reserve at 0% interest, is the federal reserve not in effect GIVING me free wealth?

      If you received (for example) $10,000 from the Federal Reserve Bank with no interest, you would still owe $10,000 in 30 years, which with 3% per month inflation, will be worth about what $0.23 is worth today. The original $10,000, if you were to invest it such that it would bring returns equal only to inflation, would eventually be $400 billion, which would be worth what $10,000 is today.

      The biggest effect of such inflation is that people whose investments didn't meet or exceed inflation now have worthless savings. That means retirement savings, business investments, and many other facets of daily economic life all grind to a halt, because the person (or company) saving can't get money fast enough to compensate for the loss of purchasing power their money has.

      Fortunately, the Fed doesn't work that way. It usually charges an interest rate (called the discount rate) that is, on average, equal to the rate of inflation (which is about 3% per year) on each loan it gives out. That interest rate effectively controls the money (and debt) supply in the United States economy. Money(increased with a low interest rate) allows people to handle short-term business. Debt (increased with a high interest rate) minimizes inflation as people save to meet future needs. The goal of the Federal Open Market Committee (which sets this interest rate) is to ensure that both needs are met.

      The Fed does not give wealth to anybody. It provides a buffer in the amount of money available to the public, to keep money available even during a recession.

      --
      You do not have a moral or legal right to do absolutely anything you want.
    19. Re:I dont see any issues with them. by sourcerror · · Score: 3, Informative

      With fractional reserve banking you kind of can ... If you add all the money in bank accounts it will be a higher amount than what the central bank issued. (up 10 times higher with a reserve ratio of 10%)

      http://www.khanacademy.org/video/banking-3--fractional-reserve-banking?playlist=Banking+and+Money

    20. Re:I dont see any issues with them. by L4t3r4lu5 · · Score: 1

      Debts gain interest too.

      --
      Finally had enough. Come see us over at https://soylentnews.org/
    21. Re:I dont see any issues with them. by complete+loony · · Score: 1

      Don't confuse a stock with a flow. eg position vs velocity.

      --
      09F91102 no, 455FE104 nope, F190A1E8 uh-uh, 7A5F8A09 that's not it, C87294CE no. Ah! 452F6E403CDF10714E41DFAA257D313F.
    22. Re:I dont see any issues with them. by Sarten-X · · Score: 1

      Now add up all of the debt liabilities of the customers, and see that it also equals that same higher amount. Again, there's no actual money created that's not countered by debt.

      --
      You do not have a moral or legal right to do absolutely anything you want.
    23. Re:I dont see any issues with them. by Hentes · · Score: 1

      There is no non-existent cash, and there is no free money, either.

      Of course not, the bank's profit comes from weakening the currency they use.

    24. Re:I dont see any issues with them. by Ginger+Unicorn · · Score: 1

      What an informative and well substantiated assertion.

      --
      (1.21 gigawatts) / (88 miles per hour) = 30 757 874 newtons
    25. Re:I dont see any issues with them. by Charliemopps · · Score: 1

      You're wrong. The federal government suspended "Mark to market" rules because the banks in question were, in every sense of the work, bankrupt. So now, banks do not have to list the assets on their balance sheets at their current value. A house that's devalued from 200k down to 150k they can list at whatever they want... 200k, 250k, it's real value is irrelevant. So now they can borrow against an asset who's value they literally invented out of thin air... Not only that, but the bank they are borrowing their money from did the exact same thing. If you think the last housing collapse was bad... wait until the next one...

    26. Re:I dont see any issues with them. by sourcerror · · Score: 1

      Yeah, there's debt liability, however the bank still increased the amount of cash flowing in the system, therefore it causes inflation until the debts are paid back.

    27. Re:I dont see any issues with them. by Anonymous Coward · · Score: 0

      They're probably not kids, either. They're likely all legal adults, and many of them are already felons, albeit not yet convicted, because of their previous involvement with Anonymous. They attack anyone they want, which makes them the Internet's equivalent of street gangs. The "thugs" generalization is thus accurate and I agree with it. The "leftist" generalization is probably also correct, but who knows for sure?

    28. Re:I dont see any issues with them. by x6060 · · Score: 1

      Wow, Someone that is speaking intelligently on Economics on slashdot? I am sorry sir, but I must ask you to leave. This is no place for people like you.

    29. Re:I dont see any issues with them. by TimeOut42 · · Score: 1

      Banks don't lend cash.......

    30. Re:I dont see any issues with them. by Anonymous Coward · · Score: 1

      As a supporter of the tea party, I would define the "leftist thug" as not anybody with a left view but a) people with a left view who feel that everybody in the world should be forced to live their leftist ideals and b) the people who skewed the tea party to be viewed as you just described the tea party. The tea party isn't about "us v them", at least in the beginning it was about financial responsibility on the part of the government. It's just a realistic view, which involves cutting entitlement programs, which is about the point that the "leftist thug" felt the need to demonize the entire movement. That being said, I believe about 90% or so of people with left leaning views don't count as "leftist thugs". Micheal Moore however, does. As does Keith Olbermann. And Pelosi. And Oboma, with actually thinking that forcing to purchase health insurance will fix anything, though I'm personally of the opinion that he's a smart guy, he knows that won't work, and is certain that everything will blow up and make his "single payer" program suddenly seem a lot more palatable.

    31. Re:I dont see any issues with them. by CoolBru · · Score: 1

      I was just reading about that today. Since issuing loans with fractional reserve is more or less a zero-cost for the bank (apart from a minor admin overhead unrelated to the size of the loan), interest isn't really deserved. So what would happen if interest wasn't payable on loans with no reserve behind them, or perhaps fractionally according to the fraction of reserve? Obviously it would make the loans far less attractive to the banks, but would it also undermine the markets built on the virtual money printing operation they represent (which isn't much to do with the interest)?

    32. Re:I dont see any issues with them. by Pope · · Score: 1

      Not in individual donations, no, but in volume, yes.

      --
      It doesn't mean much now, it's built for the future.
    33. Re:I dont see any issues with them. by FooAtWFU · · Score: 0, Redundant
      Leftist: want to redistribute wealth. Thugs: Want to implement mob rule. I think it's a fair assessment of the "hahahaha bankers suck let's beat them up and take their lunch money."

      It seemed a good description of the attitude of people in this article, and of the guy I was replying to, and it may or may not be an assessment of some of OWS. Certainly when I was walking up Market Street last Saturday and ran into an Occupy SF parade banging drums and chanting "Who's got the pow-er? We've got the pow-er!" over and over again it came across as slightly more "thuggish" than "respectful of democratic norms", at least to me.

      Anyway; I'm reasonably certain that there is a leftist-thug element to OWS, and worry what would happen if there were actually some sort of revolution and they gained power (not likely though). To be clear, leftists I can deal with. I think they're wrong, but I'm sure they think the same of me. The thuggish attitude is the objectionable one.

      --
      The World Wide Web is dying. Soon, we shall have only the Internet.
    34. Re:I dont see any issues with them. by vijayiyer · · Score: 1

      What about the people who borrowed from their banks, bought houses, rode their value up to 5x their real value. Cashed the equity out to buy cars, vacations, luxury goods, etc., and then let the houses go into foreclosure?
      Same thing.

    35. Re:I dont see any issues with them. by vijayiyer · · Score: 0

      The problem is that wealth redistribution requires at least some level of thuggish behavior. It might not be apparent in a large scale, where the IRS and threat of prison do the dirty work, but would quickly become apparent in a small scale, such as a town of 100. What if, in that town, 99 people went to a guy with an order of magnitude more money and said "give me your money, or we'll throw you in the jail"?

    36. Re:I dont see any issues with them. by operagost · · Score: 0

      Well, if you're for redistribution of wealth, that's a left-wing view. And if you steal and extort money, I'd call that thuggery.

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    37. Re:I dont see any issues with them. by Anonymous Coward · · Score: 0

      THANK YOU! I was beginning to lose faith in Slashdot for a moment. You would think that of all the places on the internet this is the last one that you would have to explain to people how fiat currency works.

    38. Re:I dont see any issues with them. by mcgrew · · Score: 1

      I was with you until you started using terms like "leftist thugs."

      Using that term means one of two things: he's either a 1%er on the board of a large bank, or he's an idiot from the tea party (and probably one of the other 1%, the 1% at the bottom).

    39. Re:I dont see any issues with them. by Anonymous Coward · · Score: 0

      The problem is that wealth redistribution requires at least some level of thuggish behavior. It might not be apparent in a large scale, where the IRS and threat of prison do the dirty work, but would quickly become apparent in a small scale, such as a town of 100. What if, in that town, 99 people went to a guy with an order of magnitude more money and said "give me your money, or we'll throw you in the jail"?

      Also, enforcing laws requires at least some level of thuggish behavior. It might not be apparent in a large scale, where the police and threat of prison do the dirty work, but would quickly become apparent in a small scale, such as a town of 100. What if, in that town, 99 people went to a guy who committed an order of magnitude more crimes and said "commit fewer crimes, or we'll throw you in the jail"?

    40. Re:I dont see any issues with them. by tompaulco · · Score: 1

      End results :
      - Charity gets more money
      - Banks get more money
      - regular people lose more money

      No, you are forgetting chargeback fees, costs to bank of dealing with the chargebacks, overdrafts that occur while dealing with the chargebacks, and so forth. The actual end result is:
      - Charity gets no money and has to pay chargeback fees.
      - Banks get less money
      - Regular people lose more money.

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    41. Re:I dont see any issues with them. by Anonymous Coward · · Score: 0

      The Fed is owned by the Rothschilds and a few others.

    42. Re:I dont see any issues with them. by Anonymous Coward · · Score: 0

      Fortunately, the Fed doesn't work that way. It usually charges an interest rate (called the discount rate) that is, on average, equal to the rate of inflation (which is about 3% per year) on each loan it gives out.

      That's the thing, the Fed's loan out rate right now is just about 0% while inflation is actually somewhere in the 7% to 11% range: http://www.shadowstats.com/alternate_data/inflation-charts . Even using the BLS's official numbers (which are intentionally painting a much rosier picture than reality), you'd get an inflation reading close to 4%.

      The fed absolutely is handing out effective wealth, if you want to call it that. The loan out rate vs inflation discrepancy is just one of it's many absurdities. There is a reason the fed handed out "Conflict of Interest Waivers" (as in, we _won't_ discipline you for having conflict of interest issues) to employees. It would be great if the public knew all of the chicanery going on, but of course, the federal reserve has not had a full audit of this mess, only a partial one. And even THAT showed a $16T secret bailout: http://sanders.senate.gov/newsroom/news/?id=9e2a4ea8-6e73-4be2-a753-62060dcbb3c3

      Now, pardon me, but how is a bailout of the largest banks to the tune of $16T, which is approx. the ENTIRE GDP of the USA, anything but an unmitigated disaster?

    43. Re:I dont see any issues with them. by vijayiyer · · Score: 1

      So you're equating wealth itself with crime. If that's not class warfare. I don't know what is.
      N.b., there is always someone who has less than you who wants what you have. Be careful what you wish for.

    44. Re:I dont see any issues with them. by 7-Vodka · · Score: 1

      I wasn't going to reply, but you have been modded up and someone congratulated your post.

      If you received (for example) $10,000 from the Federal Reserve Bank with no interest, you would still owe $10,000 in 30 years, which with 3% per month inflation, will be worth about what $0.23 is worth today. The original $10,000, if you were to invest it such that it would bring returns equal only to inflation, would eventually be $400 billion, which would be worth what $10,000 is today.

      It sounds as if you're implying no wealth was given. Remember in this scenario, you borrowed $10,000 and are paying back the equivalent of $0.23. That is a net gain of $9,999.77. Pray tell what magic would you have to weave to accomplish this gain of wealth? Get out of dollars at the receipt of the loan, ie spend the money and exercise the wealth.

      Fortunately, the Fed doesn't work that way. It usually charges an interest rate (called the discount rate) that is, on average, equal to the rate of inflation

      What world do you live on?

      inflation (which is about 3% per year)

      I would like to know how you are privy to the inflation rate! The inflation rate I'm talking about is the original definition of the term, from the dictionary:

      Monetary sense of "enlargement of prices" (originally by an increase in the amount of money in circulation) first recorded 1838 in Amer.Eng.

      We're talking about increases in the money supply. The fed does NOT release the actual numbers for quantity of money it has created. A partial audit of the FED has indicated that very recently they have over $15,000,000,000,000.00 of cash dispensing that they were keeping secret. This is a astronomical amount.

      While the FED has been increasing the money supply, the banks have been decreasing it in their efforts to stay afloat. This is masking the inflation rate. What do you think will happen if the banks resume business as usual?

      The biggest effect of such inflation is that people whose investments didn't meet or exceed inflation now have worthless savings. That means retirement savings, business investments, and many other facets of daily economic life all grind to a halt, because the person (or company) saving can't get money fast enough to compensate for the loss of purchasing power their money has.

      Nothing grinds to a halt. Wealth is transferred from those with their accounts frozen (you and I and everyone in the 99%) to those who continue to receive the new money that is generated. The little people continue to live day by day, paycheck to paycheck watching their savings evaporate into the hands of the cronies. When demand is increased via an increase in the money supply, it is increased directly by the hands of those who received the newly created moneys! They are the ones who's Willingness To Pay has increased. Everyone else still has the same money, their willingness to pay is the same, they just won't be the ones actually buying the goods because their WTP is now comparatively less.

      Unlike you I have been there. Luckily my family saw it coming and went first to dollars then to commodities before nation wide account freezes occurred. Sure it helps to leave the country with your money too, you have to get it out of the grasp of those who would steal your wealth.

      This story is as old as dirt. The roman empire collapsed in a spectacular fashion in this same way. It tried to mint ever smaller coins and force it's citizens to accept them for the same value as the larger coins. Then it started using cheaper metals. Then finally the currency was a joke and no one would take it unless it was a sword point.

      I haven't even mentioned how propping up companies with these moneys throws a wrench in the capitalist system. Here's one example. When you propped up Chrysler and GM with bailouts, low or interest free loans and screwing their creditors in that joke o

      --

      Liberty.

    45. Re:I dont see any issues with them. by Alex+Belits · · Score: 1

      Really?

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      Contrary to the popular belief, there indeed is no God.
    46. Re:I dont see any issues with them. by Sarten-X · · Score: 1

      Wow.

      I tried to understand the utter insanity written there, but I can't move past one line in particular:

      I would like to know how you are privy to the inflation rate! The inflation rate I'm talking about is the original definition of the term...

      Finding the current inflation rate is a complicated procedure. Apparently we can sidestep all of that by picking an obsolete definition for inflation, which doesn't account for the effects of using debt as currency.

      This should prove entertaining indeed, but in the interest of maintaining my sanity, we'll review only a few more key details:

      A partial audit of the FED has indicated that very recently they have over $15,000,000,000,000.00 of cash dispensing that they were keeping secret. This is a astronomical amount.

      Yes it is, and yet it's inconsequential at the same time. The oft-quoted $16-trillion figure comes from page 131 of the GAO audit report, which is explained on page 130:

      For example, an overnight PDCF loan of $10 billion that was renewed daily at the same level for 30 business days would result in an aggregate amount borrowed of $300 billion although the institution, in effect, borrowed only $10 billion over 30 days. In contrast, a TAF loan of $10 billion extended over a 1-month period would appear as $10 billion.

      Looking at the actual balances of money loaned out, the peaks of all loan programs totals only about $2.5 trillion, with only about $1 trillion outstanding as of June of 2011 ($900 billion of which is in long-term investments). Notably, all of that "secret" $16 trillion was paid back except for $13 billion (which the report doesn't appear to mention how long its term is). Again, no actual wealth was created. Equal amounts of money and debt were added to the economy, and annihilated shortly thereafter, which is one of the primary raisons d'être of the Federal Reserve Bank.

      Nothing grinds to a halt.

      Under long-term periods of high inflation (and I mean inflation by the modern, useful definition), yes it can. Saved money loses its purchasing power, so people are less inclined to save. As prices continue to rise, salary increases usually lag well behind the curve, meaning that more of the population are unable to afford the increased cost of living.

      ...And after that we're back to the ramblings about freezing assets, a secret group of people who can magically steal wealth from others, and utter ignorance the economic importance of the automotive companies. Such a lovely day on Slashdot.

      --
      You do not have a moral or legal right to do absolutely anything you want.
    47. Re:I dont see any issues with them. by swalve · · Score: 1

      Zero risk how? They have to pay THEIR depositors or creditors. When a bank takes in $100 and loans out $90, they have $190 of assets, but they only have $10 in the vault. If they don't get paid back, they still owe their depositor that $100. That's why they charge interest- it is risk-shifting. Very basically, ignoring profit and overhead, if you know 10% of your borrowers won't pay you back, you have to charge at least 10% interest to break even.

      Fractional reserve banking is simply leverage and human nature plus time. If you have 100 depositors who all put $1 in the bank, you will quickly learn that only a few of them are actually going to come in and want their $1 back at any one time, and that will be balanced out by other people depositing new money. So much so that you can operate that bank with $100 in assets just fine with only $10 in the till. That's your fractional reserve. Taking that "extra" $90 and investing it is the leverage.

    48. Re:I dont see any issues with them. by swalve · · Score: 1

      But it is all real money. You know, accounting and stuff. Even if it is all done electronically, it's still real money. The only place it is imaginary is on the balance sheet. $100 deposited and $90 lent back out is $190 on the balance sheet. They have $190 in assets, and $10 in reserves. Assets aren't money. Until they get more deposits, they can't lend out any more money. (Assuming their reserve requirement is 10%)

    49. Re:I dont see any issues with them. by swalve · · Score: 1

      Are you really trying to convince me you are so stupid as to think that they can just conjure up money out of thin air simply by writing a check? There is only one bank that can do that, and that's the Federal Reserve.

  3. They're not really stealing from bank by Anonymous Coward · · Score: 0

    They're stealing from tax payers.

    1. Re:They're not really stealing from bank by masternerdguy · · Score: 4, Insightful

      They're stealing from everyone, which is unacceptable. Anon has finally gone batshit insane.

      --
      To offset political mods, replace Flamebait with Insightful.
    2. Re:They're not really stealing from bank by Khyber · · Score: 1, Offtopic

      They aren't stealing from me.

      I'm smart enough to not have credit (minus pre-secured credit,) and resourceful enough to be cash-only otherwise.

      --
      Still waiting on Serviscope_minor to wake up to fucking reality and realize that Jessica Price isn't going to fuck him.
    3. Re:They're not really stealing from bank by Bacon+Bits · · Score: 1

      Unless you're independently wealthy, good luck buying anything over $10,000.

      --
      The road to tyranny has always been paved with claims of necessity.
    4. Re:They're not really stealing from bank by Anonymous Coward · · Score: 0

      Yeah, you're a genius. I use my credit card for online purchases because it protects me from fraud and is near-universally accepted online, and I'm of course a dumbass for it.

    5. Re:They're not really stealing from bank by Anonymous Coward · · Score: 0

      Interestingly, that notion never stopped people from reproducing...

    6. Re:They're not really stealing from bank by sakari · · Score: 1

      They're stealing from everyone, which is unacceptable. Anon has finally gone batshit insane.

      How is this different from the current capitalist system? Bankers stealing from those who are in fear of losing their houses, their jobs, even their lives. The real culprits here are the bankers and rich capitalist stock manipulators who keep on making money off the skin of those who have no backbone to stand up against them.

    7. Re:They're not really stealing from bank by Anonymous Coward · · Score: 0

      and they were sane before?

    8. Re:They're not really stealing from bank by Aryden · · Score: 4, Insightful

      That's easy to do. Save your money and buy it with cash. I've been doing it for years. I refuse to pay the interest rates on credit cards.

    9. Re:They're not really stealing from bank by Surt · · Score: 2

      If you can buy it on credit now, why can't you save up for it and buy it later?

      --
      "Who is the Journal of Quantum Physics going to believe?" --Stephen Hawking
    10. Re:They're not really stealing from bank by mwvdlee · · Score: 4, Insightful

      They've been batshit insane since the very start, it only looked like they weren't because they coincidentally attacked evil companies at first.

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    11. Re:They're not really stealing from bank by DurendalMac · · Score: 2

      So you'd rather keep paying rent for a decade or so until you have enough cash to afford a house, especially if payments on that house in total would be less than all that decade of rent money plus the cost of the house?

    12. Re:They're not really stealing from bank by Inda · · Score: 4, Interesting

      I've never understood people paying 30% interest on their credit cards.

      Never let your credit card debt be more than your monthly wage. Pay it off in full monthly and get charged 0% interest. It's that easy.

      1. You are always one month ahead. You basically have a free month's wages until the day you die.

      2. Many cards, like mine, offer 1-2% "cash back". I actually get supermarket points on mine which can be doubled or quadrupled at certain times of the year. It's like getting paid to use the card. Up to 7% sometimes.

      3. Profit.

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    13. Re:They're not really stealing from bank by Darfeld · · Score: 1

      Well, doing the same things that the "bad guys" isn't exactly a good way to legitimate yourself...

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    14. Re:They're not really stealing from bank by Dan541 · · Score: 1

      Anonymous has always taken victims wherever they find them. This is nothing new.

      --
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    15. Re:They're not really stealing from bank by Anonymous Coward · · Score: 0

      You are always one month ahead. You basically have a free month's wages until the day you die.

      Or the day you lose your job and can't quickly get another one. Paying off in full each month is much better than running a balance of course (and in fact it's what I do) but living off credit as a matter of course is a problem even so. credit card with monthly direct debit to pay it off is a very convenient way of paying bills and gives some security if goods and services aren't forthcoming but I wouldn't want to have nil in the bank to fall back on, let alone have a net debt position at any given time.

    16. Re:They're not really stealing from bank by Anonymous Coward · · Score: 0

      How exactly are the bankers stealing?

      Oh because they don't give out free houses.

    17. Re:They're not really stealing from bank by antifoidulus · · Score: 1

      Well thats why you don't actually charge money you don't have(but are expecting you will), you can treat the credit card like a free 1 month loan, keep the cash you would have been spending otherwise in the bank and let it accrue interest(though right now you would be lucky to get 1%)

    18. Re:They're not really stealing from bank by Pope · · Score: 1

      They're not talking about mortgages, they're talking about credit cards. I doubt anyone's buying a house on their VISA.

      --
      It doesn't mean much now, it's built for the future.
    19. Re:They're not really stealing from bank by Khyber · · Score: 1

      Yes, I am a genius. Pre-secured credit cards don't affect your credit rating and you don't have to worry about losing any more mone that you put on the card itself.

      You also don't have interest to pay on pre-secured credit cards.

      Are *YOU* using a pre-secured credit card? If not, you are being unwise.

      --
      Still waiting on Serviscope_minor to wake up to fucking reality and realize that Jessica Price isn't going to fuck him.
    20. Re:They're not really stealing from bank by Surt · · Score: 1

      Well, in reality, yes. But in reality, at least around me, house prices are still falling, and are still going to fall for another couple of years at least. Plus rents are cheap because of all the vacant houses, much cheaper than the houses are currently selling for.

      --
      "Who is the Journal of Quantum Physics going to believe?" --Stephen Hawking
    21. Re:They're not really stealing from bank by vijayiyer · · Score: 1

      That just drives the cost of goods up, since they charge merchants the 1-2%. On large dollar items, sometimes you can negotiate a cash discount.

    22. Re:They're not really stealing from bank by vijayiyer · · Score: 1

      Evil bankers won't buy me a house. Boo hoo.

    23. Re:They're not really stealing from bank by Anonymous Coward · · Score: 0

      That idea works fine if you're single and financially responsible. When you get married, it all falls apart.

    24. Re:They're not really stealing from bank by Grishnakh · · Score: 1

      If you have to put money into the "pre-secured credit card's" account to use that card, doesn't that really make it a debit card and not a credit card? Credit is when you spend money that you don't have (or don't have in that account at least), and pay it back later. Debit is when you spend money that you already have.

    25. Re:They're not really stealing from bank by Khyber · · Score: 1

      Debit is linked to a bank.

      Credit is not.

      Not a hard distinction to make.

      --
      Still waiting on Serviscope_minor to wake up to fucking reality and realize that Jessica Price isn't going to fuck him.
    26. Re:They're not really stealing from bank by Grishnakh · · Score: 1

      No, you're looking at the wrong definitions of "credit" and "debit".

      From http://en.wikipedia.org/wiki/Credit_(finance):
      "Credit is the trust which allows one party to provide resources to another party where that second party does not reimburse the first party immediately (thereby generating a debt), but instead arranges either to repay or return those resources (or other materials of equal value) at a later date."

      From http://en.wikipedia.org/wiki/Debits_and_credits:
      "In a non-accounting sense, according to knol,[7] a "debit" is:
      a written note on bank account or a other financial record of a sum of money owed or spent, or
      a sum of money taken from a bank account."

      Just because some companies want to redefine words that have been in the English language for centuries doesn't mean they can.

      So for this so-called "pre-secured credit card", it's obviously incorrectly named. If you have to put money into an account (which then makes them a bank, even if they choose not to call themselves a bank), before you're allowed to spend that money with the card, then it quite simply is NOT a credit card, because there's no credit involved. You can't call it "credit" if you have to pay for it beforehand; that's a "debit". "Credit" is when someone loans you money with the expectation that you'll pay it back later.

    27. Re:They're not really stealing from bank by Khyber · · Score: 1

      No it is not incorrectly named. Secured credit is backed by assets and collateral. Unsecured credit is what you have to pay back, it's like a loan.

      http://en.wikipedia.org/wiki/Line_of_credit

      "Lines of credit can be secured by collateral or unsecured."

      --
      Still waiting on Serviscope_minor to wake up to fucking reality and realize that Jessica Price isn't going to fuck him.
    28. Re:They're not really stealing from bank by Khyber · · Score: 1
      --
      Still waiting on Serviscope_minor to wake up to fucking reality and realize that Jessica Price isn't going to fuck him.
    29. Re:They're not really stealing from bank by Grishnakh · · Score: 1

      No, I don't think so. Secured credit, being backed by collateral, is still a loan. That's like a house mortgage, or also a HELOC: you have to pay back the loan, with interest, but there's collateral in case you default on the loan. The collateral isn't there to repay the loan, it's just something the creditor can take in case you default, so that their loss is less (the collateral may or may not cover the entire loss; lately in the housing market, it usually doesn't).

      What you're talking about is something where you never repay the loan, because you already paid for it before you even exercised your line of "credit". That's not credit at all, that's just a glorified marketing renaming of a debit card. They probably get to use credit card rules and merchant fees rather than regular bank debit card merchant fees, thanks to their clever renaming, but it's still not "credit" no matter how much they may call it that, just like a Geo Metro pulling a 4x4 Harbor Freight utility trailer is not a "tractor trailer" no matter how much someone may insist it is. Credit is when you have a loan that you're supposed to pay back; a prepaid card is not a loan, because it's prepaid.

  4. Great by TheSpoom · · Score: 4, Insightful

    They're going to steal money from the middle class to... theoretically... give it to the poor? And this is going to affect the people at the top, who probably don't even have a consumer credit card (and at the very least have people watching them, and charging back any unauthorized transactions), exactly how?

    98% of the 99% are getting a little pissed at this bullshit.

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    1. Re:Great by Anonymous Coward · · Score: 2, Insightful

      "They're going to steal money from the middle class to... theoretically... give it to the poor?"

      The wealth disparity has gotten WAY out of hand, and measures like this are what is needed. When some people have no food or medical care, and others have two cars and a nice house, it's time to balance things a little as common HUMAN DECENCY.

    2. Re:Great by Anonymous Coward · · Score: 0

      "And this is going to affect the people at the top,,,,exactly how?"

      The point is to help the people at the bottom. You know, the ones who are homeless, living on scraps they fish out of the trash of idiots like you who don't give a damn about anybody but yourself.

    3. Re:Great by Anonymous Coward · · Score: 1, Insightful

      When some people have no food or medical care, and others have two cars and a nice house, it's time to balance things a little as common HUMAN DECENCY.

      Because most of those people don't own that house and those cars, they pay them off with the money they get from their jobs. fool.

    4. Re:Great by orphiuchus · · Score: 5, Insightful

      The wealth disparity isn't between the middle class and the poor, its between the rich and everyone else. Stealing from the middle class just creates new poor.

    5. Re:Great by Anonymous Coward · · Score: 1, Insightful

      "The wealth disparity isn't between the middle class and the poor, its between the rich and everyone else"

      No, it's both. The middle class have MASSIVELY more than the truly poor, and it's high time to remedy that just as it's high time to remedy the top 1% being so out of proportion to the middle class.

      The difference between the very top and the very bottom has become unethical. That needs to be fixed on BOTH ends, not just the one end that might benefit you personally. This isn't about YOU, it's about what needs to be done for the good of society, because things are just way out of hand right now.

    6. Re:Great by Anonymous Coward · · Score: 0

      I used to be like that, but then I got off my ass and got a job.

    7. Re:Great by Grave · · Score: 5, Insightful

      I'm sorry, I don't understand how you think taking money from the middle class and giving it to the poor fixes anything. Corporations and the upper-class have more than enough to be able to bring the poor out of the danger zone and still remain wealthy. The middle class, by and large, did not get there by doing anything other than working their asses off and getting paid salaries proportionate to their work. Whereas the upper class more often than not are getting paid money that is vastly beyond what the rest of society considers appropriate for the work they do. CEO of a company that fired 10,000 people last year and lost $5 billion? Earn a severance package of $100 million. Gamble with other people's money on the market and send $500 billion up in smoke? Get a $2 million bonus.

    8. Re:Great by Darinbob · · Score: 4, Interesting

      Most of anonymous is in the middle class (if they own a computer and can spend time hanging out at forums then they're not the super poor). So they should just donate their own cash to charities. Think they'll go for this idea, or they'd rather just steal someone else's money and then brag about it on their ipads?

    9. Re:Great by orphiuchus · · Score: 2

      I'm sorry, but you're just wrong. The middle class by and large got where they are through hard work, and the last thing they need is to be driven into poverty by terribly thought out "robin hood" campaigns.

    10. Re:Great by Anonymous Coward · · Score: 1

      "The wealth disparity isn't between the middle class and the poor, its between the rich and everyone else"

      No, it's both. The middle class have MASSIVELY more than the truly poor, and it's high time to remedy that just as it's high time to remedy the top 1% being so out of proportion to the middle class.

      The difference between the very top and the very bottom has become unethical. That needs to be fixed on BOTH ends, not just the one end that might benefit you personally. This isn't about YOU, it's about what needs to be done for the good of society, because things are just way out of hand right now.

      And so you think that simply handing poor people money is going to encourage them to spend better, get an education, and otherwise take steps (which they may not even be aware of) to rise from their poverty?

    11. Re:Great by Nugoo · · Score: 3, Interesting
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    12. Re:Great by Anonymous Coward · · Score: 0, Flamebait

      99% of the people at the bottom are there because of their own choices. If someone flunks out of high school and doesn't bother to train themselves with some skill to get a decent job that's their bad.

    13. Re:Great by Anonymous Coward · · Score: 0

      "I'm sorry, I don't understand how you think taking money from the middle class and giving it to the poor fixes anything"

      I'm sorry, I don't understand how you think it won't.

      I don't think you have any idea just how little some people have.

    14. Re:Great by EdIII · · Score: 3, Insightful

      Well.. they are not stealing from the middle class. That's an assumption. Credit data is going to be used which can possibly cover all the demographics.

      Stealing is not going to occur anyways. Anybody with a debit card is highly likely to be protected from unauthorized charges with no damage being done to them, other than the inconvenience of filing a claim. Most banks will issue a provisional credit, especially if they notice it is a large pattern of fraud.

      A huge number of charge backs are going to occur, which would create a operational cost burden to the financial institutions. If it is a large scale pattern of fraud too, the charities will not be affected by the charge backs with respect to account suspensions, reputation, etc. Giving the money back will happen obviously. Which, if I recall correctly, most money from merchant accounts is held for a period of time. So those charities will not actually see any of that money in all likelihood.

      Furthermore, I am willing to bet that Anonymous will not try large donations on any debit cards. From looking at the bin numbers you should be able to tell the difference and act accordingly. So any middle class person might lose 10-50$. Not likely to push them over the edge. Credit cards will probably be hit for larger amounts, but that is going to be even more protected by fraud prevention and have a much quicker resolution time to the consumer.

      The people that will be hit hardest by this are the banks.

      Don't get me wrong. Pushing all this inconvenience on regular people is asinine.

      That being said, FUCK THE BANKS. Those are the same people that killed the economy with their bullshit, got bailed out from government, failed to live up to their own obligations with the money (namely home loan modifications), and recklessly and ruthlessly sold financial instruments multiple times so home owners had one or more banks after them for foreclosure, used Deeds of Trust to bypass due process, and generally have been ass raping the American Public to the tune of a trillion plus dollars.

      Ohhhhh, and not to mention are engaged in a conspiracy to accelerate foreclosures and not work with homeowners because they can make more money with wealthy investors (themselves and their friends) by picking up the properties cheap with government assistance. Do they pay HOA fees or property taxes? Of course not. Fuck that shit. Not only do they refuse to work with people, they fuck over their local communities by failing to pay these fees which local government needs for police, fire, etc.

      They are a blight on humanity, and in that regard, I fully support Anonymous sentiment regarding the fact these people need to pay and suffer in some way. I applaud the ends here, but not the means.

      My heart bleeds for them in their protected gated communities and luxury yachts. Poor little fucking bankers.

    15. Re:Great by artor3 · · Score: 5, Informative

      No, you're factually and provably wrong. I suspect that you know this, and are lying in hopes of scaring members of the middle class away from any policies that might fix the distribution of wealth in this country.

      The bottom 80% of Americans, a group that includes both the poor and the middle class, owns just 7% of the wealth in the country. Redistributing that 7% evenly among the 250 million people that make up the bottom 80% won't do a damn thing.

    16. Re:Great by Anonymous Coward · · Score: 0

      "And so you think that simply handing poor people money is going to encourage them to spend better, get an education, and otherwise take steps (which they may not even be aware of) to rise from their poverty?"

      It just might, yes. Many times people get trapped in a cycle of poverty, and something like that can let them escape it. They don't have the basic resources to get a clean set of clothes so that they can go to a job interview and look halfway presentable. Things you apparently take for granted.

      You appear to be engaging in classic "blaming the victim" behavior.

    17. Re:Great by zrakoplovom · · Score: 0

      This has already been accomplished, with great success. Cuba. Check it out, I'm sure you will be on the next flight to Havana and living the good life...

    18. Re:Great by DigiShaman · · Score: 1

      Technically, I'm in the lower middle class by American standards in terms of household income. I do live within my means and manage to squirrel away the remaining paycheck into savings. It's not a lot, but I manage. Specifically for a better future as I get older. Hopefully. Sometime in the future, I'd like to get an advanced degree to improve my earning potential and feel rewarded with the knowledge I've gained among peers. But not in this economy and certainly not with the tuition bubble as high as it is. Screw that! But seriously, these hacktivist should think extremely long and hard about whom they target. There are many professionals among the IT industry that are likely to retaliate. Piss off the wrong people, and something bad could happen in meat space. This is not a game. Unfortunately for them, the reality of the situation will not sink in until it's too late.

      Oh, and think about this. Among all the members of these hacktivist groups, many are already in the top 1% income bracket. I have no way to be certain of the ratio, but statistically, there has to be some. If that wouldn't piss you off, I don't know what would.

      --
      Life is not for the lazy.
    19. Re:Great by korean.ian · · Score: 0

      There are no truly poor in America.

    20. Re:Great by Anonymous Coward · · Score: 0

      Seriously?! Now it's the middle class to blame? It's hard enough for me to pay my goddamn mortgage and feed myself... now I'm going to have to chase BoA with fraud complaints and hope I don't get hammered over it?

      That's just what I need right now. Fuck them and fuck you to.

    21. Re:Great by Anonymous Coward · · Score: 1

      They might be middle class, but they are only a few people and can't themselves directly make a huge dent in the problem. But the number of middle class people overall is HUGE, so if anonymous can leverage those millions upon millions of people to help, then a dent CAN be made in the problem.

      Anonymous = dozens or hundreds of people
      Middle class = hundreds of millions of people.

    22. Re:Great by Anonymous Coward · · Score: 0

      That's because America sold itself out (much of the first world did that too), execs made more profit by outsourcing to other countries because all the people gave a shit about was that they could get their ipod a bit cheaper if it's made in china, then they realized they had no jobs because none of them wanted to pay for 'Made in USA', they'd rather scrounge an extra couple of bucks by buying 'Made in China'. And now that you're in the shit and that's come back to bite you you want someone to bail you out for your mistake, maybe you should have supported your country!

    23. Re:Great by nedlohs · · Score: 1

      Of course it will do a damn thing. It'll make the bottom end of that 80% significantly better off than they are now.

    24. Re:Great by Osgeld · · Score: 1

      well fucker I have a credit card and use it wisely, and make below the poverty line, so go kindly fuck yourself as this has a good chance of fucking me over

    25. Re:Great by Fluffeh · · Score: 1

      The wealth disparity isn't between the middle class and the poor, its between the rich and everyone else. Stealing from the middle class just creates new poor.

      While I don't really agree with this op, if you think about it logically and follow the money trail, it isn't going to come out of the pockets of the middle class. It will come out of the insurance companies - who are more likely to be mainly owned by the rather rich.

      1) Anon flogs some cash off a credit card and donates it to charity.
      2) Owner of said card cries foul and bank re-imburses that card.
      3) Bank then claims however much was nicked on insurance.
      4) Insurance company hands over the cash to the bank.
      5) Insurance company raises prices if anything to try to recover said losses. (Having said that, I don't imagine that anything that Anon can do would be more than a grain of salt on a beach when compared to the daily giving and taking that these banking behemoths do).

      --
      Moved to http://soylentnews.org/. You are invited to join us too!
    26. Re:Great by Osgeld · · Score: 1

      The truly poor in America live better than I do

      I have to pay rent, taxes food and after a recent job loss can barley keep my shitty apartment while begging my mom to help now and again on my car payment while fighting the state for some college assistance for my wife NOW 4 GD MONTHS, cause I have 1400 bucks in savings.

      the poor have free housing, free food, free education and park a fucking Cadillac in front of their project, and they dont work while I get to work at 6 AM and do not leave till 8 fucking PM, while being reamed on taxes on my fucking "happy meal an hour" temp job.

    27. Re:Great by Anonymous Coward · · Score: 0

      How can you post this, since you canceled your internet service, sold your computer and other (many, I'm sure) luxury electronics, and donate all of your free time to volunteering at homeless shelters and services?

    28. Re:Great by atriusofbricia · · Score: 1

      No, you're factually and provably wrong. I suspect that you know this, and are lying in hopes of scaring members of the middle class away from any policies that might fix the distribution of wealth in this country.

      The bottom 80% of Americans, a group that includes both the poor and the middle class, owns just 7% of the wealth in the country. Redistributing that 7% evenly among the 250 million people that make up the bottom 80% won't do a damn thing.

      I'll bite... and exactly what would you advocate to "fix the distribution of wealth in this country"? Wholesale theft and armed robbery (but we'll call it taxes and execute it through the government so it'll be okay)?

      --
      I was raised on the command line, bitch

      "Nemo me impune lacesset"

    29. Re:Great by Anonymous Coward · · Score: 0

      Exactly! Taking from the middle class and giving to the poor is wrong, but taking from the super rich and giving to the poor is right! Why? Because the super rich got there because of unethical and shady business practices, that's all! Don't act like they got there through hard work and good ethics moron! You are just plain outright ignant! yes, ignant, it's a word used to describe the ridiculously stupid and blind to common sense! I have no problem with somebody who works their butt off and achieves a good living, none whatsoever, but I DO have a problem with stupid rich kids who inherit their parents money and then act like they worked to deserve it the whole time stepping on and cheating honest people! I DO have a problem with stupid little rich spoiled brats who think they can do no wrong and still get a severance package even though they ran a company into the ground or took taxpayer bailouts from the very people that worked hard, paid taxes and got laid off so some IGNANT spoiled little rich snob can get the money they think they deserve because they have nothing but a sense of entitlement, hence no fuc*ing honor! yea that's my problem! Dumbass!

    30. Re:Great by tlhIngan · · Score: 5, Insightful

      While I don't really agree with this op, if you think about it logically and follow the money trail, it isn't going to come out of the pockets of the middle class. It will come out of the insurance companies - who are more likely to be mainly owned by the rather rich.

      Yeah, but you think the rich are going to lose money over this?

      The insurance companies pay. Guess where that extra money comes from? Yes, it comes from everyone. If the insurance premium goes up for banks. banks go and raise their fees, affecting everyone (especially the poor).

      Thinking the rich will be hurt by this is just like thinking a credit card company will be hurt by all the chargebacks.

      In fact, this op can go against the very people they're trying to help! If the charities get hit with chargebacks, that's a TON of extra paperwork they have to handle (they are probably not equipped to handle it), plus loss of the money (and maybe a little bit extra transaction fee). So now the charity is out the donation and had to have volunteers deal with the bank rather than work on charitable work.

      Even though charities get special rates to handle credit cards (often no transaction fees), the extra paperwork involved still takes time and energy away from doing the charitable work.

    31. Re:Great by RazorSharp · · Score: 1

      The short version for people: when your credit card (or the information on it) is stolen and charges are racked up, the bank owes that money, not you. It's part of their advertisements.

      --
      "From the depths of my skeptical and rationalist soul, I ask the Lord to protect me from California touchie-feeliedom."
    32. Re:Great by ozborn · · Score: 1

      There are no truly poor in America.

      What you mean to say is that there is nobody in America who meets YOUR definition of truly poor - whatever that is.

      There are more than enough truly poor people in the US - as defined by the US government, OECD, etc... Most people also intuitively (and correctly IMO) realize that the crazy homeless person they see wandering the streets of major urban centers is truly poor - they have no or little money, no shelter, etc... Pretty much the very definition of poverty and destitution, but perhaps in your world they have to be actively starving to death to be truly poor?

      I think what you mean to say is that you can't emotionally handle the idea of real poverty well, so you declare it impossible (at least in America) so you don't have to think about it and definitely not do anything about it.

    33. Re:Great by Anonymous Coward · · Score: 0

      Some of those people with the Cadillacs in the project aren't that poor, they're criminals with an unreported income stream.

      If you're desperate you can still get help from food banks, even with $1400 bucks in savings.

    34. Re:Great by Kenja · · Score: 4, Insightful

      I'd not call it "right", but you can take quite a bit form the rich without making them poor. On the other hand, the "middle class" are often only better off in terms of things like having a house they still owe hundreds of thousands of dollars on. It takes very little to make them poor.

      --

      "Have you ever thought about just turning off the TV, sitting down with your kids, and hitting them?"
    35. Re:Great by TheSpoom · · Score: 1

      And they, in turn, get the money back from the institution to which it was deposited, plus a chargeback fee. They're likely still either breaking even or profiting from the situation.

      --
      It's better to vote for what you want and not get it than to vote for what you don't want and get it.
      - E. Debs
    36. Re:Great by Alex+Belits · · Score: 1

      Middle class = hundreds of millions of people.

      Actual middle class starts at the level of small business owners. We are talking about socio-economic classes, not nebulous "ownership society" bullshit, right?

      --
      Contrary to the popular belief, there indeed is no God.
    37. Re:Great by EdIII · · Score: 1

      That's incorrect. In the cases of fraudulent charges the merchant is not made victim to a charge back fee. Those fees only apply to disputes regarding valid transactions such as wrong items, items not received, damage, etc.

      Which is why I said the normal penalties you receive for charge back percentages would not even apply.

      In short, the merchant account is not at risk at all for fraud. Not on online transactions where they are using a reputable gateway. When face to face verification or signatures are not possible, it is entirely the responsibility of the financial institution to authorize those charges based on the supplied data.

      What I am really curious about is if Anonymous has the data to pass additional security layers like Verified by Visa.

    38. Re:Great by repapetilto · · Score: 1

      noone reads the actual press release?

      2) Cards - We are NOT targeting Debit cards and nothing below the (Corporate/Amex) level of BoFA/CitiBank/Chase cards. Does this mean we target Classic Cards? No. Other banks? No. We have no intentions of even selling the data we have unlike others who would have profit intentions of using it to make BANK (MILLIONS) in for themselves. We are only doing under $1,000 at a time which helps quite a lot of people in that area. You banks: Need to stop fucking whining and start to up your security.

      http://pastebin.com/VKz9U1nu

    39. Re:Great by ATMAvatar · · Score: 1

      I'll bite... and exactly what would you advocate to "fix the distribution of wealth in this country"? Wholesale theft and armed robbery (but we'll call it taxes and execute it through the government so it'll be okay)?

      I do not advocate as such, but if the current direction of increasing the wealth gap fails to turn around, ultimately that will happen via angry uprising on behalf of the lower 99%. We just haven't reached the tipping point yet.

      Unfortunately, there is no indication that the problem is going to fix itself. One alternative would be massive regulations and redistribution of wealth via government policy. It is certainly not ideal. The other relies mostly upon industry naturally and graciously trimming the gap on its own. Both prospects seem dubious if not outright laughable, because both rely upon the very people who created the problem and continue to exacerbate it.

      We shall see one way or the other in due time.

      --
      "They that can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety."
    40. Re:Great by ATMAvatar · · Score: 1

      You sound vastly better off than my younger brother, who has lived off assistance from my parents for several years now. He has only finally weaned himself off that recently and started to scrape a little savings together because he's now living with me free of charge. All the while, he's been stuck working for lower wages than I used to get for my miscellaneous summer jobs during high school and early college 10+ years ago. He only has a working vehicle because of a recent inheritance from a dead relative (with some extra padding from mom and dad again).

      --
      "They that can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety."
    41. Re:Great by Zironic · · Score: 2

      What's wrong with wholesale theft and armed robbery? What do you think protects your property rights in the first place?

    42. Re:Great by Anonymous Coward · · Score: 1

      Think of it this way. The middle class don't have 50% of the wealth. The middle class don't have 10% of the wealth. The middle class don't have 5% of the wealth. You can keep chopping it down like that for a while, too. So, if you take everything from the middle class, making them poor, you won't bring the starving masses up to any middle class level, you'll just lower some people to poor, and some others will also be poor. The problem is that the top 1% have most of the money in the world. Take that, spread it across the board, bring everyone up, and a few people down.

    43. Re:Great by Anonymous Coward · · Score: 0

      Most credit cards companies cover you for fraud, this'll come straight out of Visa et al.

    44. Re:Great by Anonymous Coward · · Score: 0

      Well, let's see.

      I got myself a degree. I'll never pay that back. I presently earn minimum wage, and work part time. Nobody will look twice at hiring me because I have a non-verbal learning disability. (According to the tests that discovered this learning disability, I am somewhere in the genius range of IQ, too).

      I spend as well as I can. Private transport, because public transport would cost about half as much again. My partner and I own a house, because when I did have a full time job, I did nothing. Two years, I didn't go out, didn't spend on anything I didn't absolutely need. I did nothing at all.

      The owner of my work is $5 million richer than he was last year, yet nobody at work got a pay increase because of the rough economy. I remember how he cut costs to make sure he made more money - he turned off the emergency lights at night, the stairwell lights, anything and everything he could.

      Apparently, though, my time is only worth minimum wage.

      Can't negotiate for a higher wage, either. The wages are built into the budget of my work. They work out number of employees*minimum wage, and then add a bit for the manager who works 70 or 80 hours a week but is only paid for 40.

      No, the problem is most definitely that poor people can't budget or spend properly, it's not that the rich people and business owners won't obey the basic employment and occupational safety laws of the country, let alone pay people a living wage.

      Other options? Well, I could go work for McDonalds, but when they hire, they have many applicants who don't have degrees, so they have lower expectations and won't leave at the drop of a hat. That's really about it, though.

    45. Re:Great by Anonymous Coward · · Score: 0

      Good for you! It doesn't work out that way for everyone, though. You obviously had some clean clothes and a pair of shoes to wear to a job interview, and enough money to get a haircut as well as have a hot shower, or a bath. Got a bank account? Many banks around the world won't let you open a bank account without a fixed address.

      Oh, you had a fixed address? Then you clearly weren't homeless.

      Wow, what kind of moron claims that he was homeless and got a job?

    46. Re:Great by Anonymous Coward · · Score: 0

      The problem is not having two cars and a nice house; A family may need two cars for their daily commute and may have worked for decades to be able to afford that "nice house". The problem is two or more luxury cars, a mansion and matching life style, paid for by work that adds no value to society as a whole.

    47. Re:Great by Anonymous Coward · · Score: 0

      Virtually everyone owns an internet capable computer in the western world (think about the system requirements for that) and no one works 24 hours a day, any more FUD you'd like to pedal?

    48. Re:Great by l0ungeb0y · · Score: 0

      Fuck you, you self-entitled piece of shit.
      You want a nice house and car?

      Then work for it like everyone in the Middle Class else did.
      Ohh -- is that too hard? Too bad. Life isn't fair and never will be. Get over it.

    49. Re:Great by Anonymous Coward · · Score: 0

      Oh, is that it, is it?

      See, I flunked out of school. I also got a degree. I'm presently part-time minimum wage. I'm trapped there, because I'm earning so little I can't move to another town and apply for work.

      Guess that's my fault, eh? My boss is a very rich man, but refuses to pay decent wages, but that's my choice. No, definitely my choice.

      I could always get another job! Except that it, too, would be part-time minimum wage.

      So how did the others in my course "make it"? Well, let's see. I remember one of them telling me that I should get away for the holiday break. My parents would give me money, of course. Except it doesn't work like that for most of us.

      Yeah, I should just go and get another job. That'll fix everything. I'll be earning $400,000/year in no time if I made my mind up to do it!

    50. Re:Great by Anonymous Coward · · Score: 0

      Banks will replace damages up to a certain ammount. If the take money, donate, and report the card stolen, the bank ends up paying.

    51. Re:Great by drsmithy · · Score: 3, Insightful

      I'll bite... and exactly what would you advocate to "fix the distribution of wealth in this country"? Wholesale theft and armed robbery (but we'll call it taxes and execute it through the government so it'll be okay)?

      So you're clearly someone who believes there should be no taxes at all.

      How are you planning to finance even a basic and useless Government that does nothing more than provide an army and court system ?

    52. Re:Great by PaladinAlpha · · Score: 1

      You got yourself "a degree"? That by itself is diagnostic. People who went to school to get a marketable skill always talk about what their degree is in. Your assumption that possessing "a degree" entitles you to high-demand work is telling.

      Working part-time should give you extra time to attempt alternate revenue streams. Learn to code and write programs/games. Write a book. Start a website, gather traffic, and monetize. Take a small business loan and start a business.

      It sounds like you work for a pretty poor place. You should be actively seeking better employment. It can be hard to find in the current economy, especially since your degree is worthless, but perservere.

      I sincerely wish you the best of luck, and feel plenty of empathy -- but no sympathy. Your life is a long string of your own choices. The choices available to other people are not relevant; it is up to you to maximize your own opportunity. Get out there and get to it.

    53. Re:Great by DerekLyons · · Score: 1

      Don't get me wrong. Pushing all this inconvenience on regular people is asinine.

      When you've gone to such lengths to try and explain away the inconvenience, that kinda takes away any meaning from your half-assed 'apology'.

    54. Re:Great by Dan541 · · Score: 1

      CEO of a company that fired 10,000 people last year and lost $5 billion? Earn a severance package of $100 million. Gamble with other people's money on the market and send $500 billion up in smoke? Get a $2 million bonus.

      Then it is upto the share holders to act.

      The occupiers like to whine about CEOs being paid large salaries. But that money doesn't belong to the occupiers in the first place, corporations have the right to do what they like with that money, it is upto the investors to hold them to account. Not some third party of squatters.

      --
      An SQL query goes to a bar, walks up to a table and asks, "Mind if I join you?"
    55. Re:Great by Dan541 · · Score: 1

      Anonymous = dozens or hundreds of people
      Middle class = hundreds of millions of people.

      Middle class = the top 1% of the worlds wealthiest people.

      A large portion of the worlds population don't have enough food.

      --
      An SQL query goes to a bar, walks up to a table and asks, "Mind if I join you?"
    56. Re:Great by xelah · · Score: 1

      It's also between typical people in rich countries and poor ones. Global inequality has been falling whilst, simultaneously, within-country inequality has been rising almost everywhere. So......more offshoring? (grin) (Actually, I suspect that wouldn't work, and that the best way to really help the poor is for richer countries to reduce their raw material use, including food (eg, less meat) and the raw materials in imports).

    57. Re:Great by Ash+Vince · · Score: 1

      The people that will be hit hardest by this are the banks.

      Don't get me wrong. Pushing all this inconvenience on regular people is asinine.

      No the people who will be hit are people like me. They will take some money out of my account that I had not budgeted for, this will not be noticed immediately and may take until the end of the month depending on how often I check my account. Because I am not aware that my account is down by however much they donated I may then spend more than I have which results the bank charging me an exorbitant fee for exceeding my overdraft facility.

      The bank will eventually refund the fraudulent use of my credit card but they will not refund the charges they applied to my account as they will just say I should have checked my account more often (which actually means before every large purchase in order to be 100% safe). Now you might say this is exactly the same as if some fraudster used my card without my permission to buy himself a new telly, to which I say you exactly right: It is no different what so ever as far as the person who is down an extra bank charge just because they were too busy to check their account before the rent or whatever came out of their account.

      --
      I dont read /. to RTFA, I read /. to offend people in ignorance.
    58. Re:Great by thisnamestoolong · · Score: 1

      The middle class is already getting squeezed out of existence. By making enough money to get by, they are ensuring that they don't get any assistance, and have to pay a quarter to a third of their income in taxes before they even get to see it. The middle class ALREADY carries the burden of taking care of the poor, while the rich hide behind tax loopholes and foreign bank accounts. If you think that the middle class is the source of any of these problems, you are a fucking idiot. There is no debate, no discussion, you are simply wrong and are going after the wrong enemy. The middle class was no responsible for crashing the economy, and it was the middle class that fell the furthest. We work our asses off and we pay taxes, it is time for the leeches at the top to join us.

      --
      To the haters: You can't win. If you mod me down, I shall become more powerful than you could possibly imagine
    59. Re:Great by shutdown+-p+now · · Score: 1

      You can do it once or twice, but then you end up with all poor and no middle class.

      In very simple terms, it depends on how much effort (labor) actually went in into every dollar earned. Obviously, this is somewhat subjective, since it's hard to compare different types of work (e.g. 7 hours of unloading cargo vs 12 hours coding at an EA sweatshop?), so you can only have very rough estimates here. However, it is clear that at the far right end of the income curve, every dollar is really, really cheap in terms of effort made by the person to earn it (because the only other alternative is that your average billionaire really works 10^6 times as hard, which is humanely impossible).

      Now, when you come and take those dollars, the amount of disincentive to earn that you create by doing so is proportional to that effort-per-dollar. That's precisely why optimal income taxation is progressive and not flat. Ideally, you want to take more from rentiers, and less from those engaged in productive work. The "1%" are (not all, but the majority) rentiers.

    60. Re:Great by shutdown+-p+now · · Score: 1

      Middle class = the top 1% of the worlds wealthiest people.

      All American citizens are in the top 10% or so, including the unemployed. Let's take their welfare and send it over to starving Africans!

    61. Re:Great by shutdown+-p+now · · Score: 1

      At $5m/year, your business owner is definitely not middle class. In fact, that's not even 1%, more like 0.1%.

    62. Re:Great by shutdown+-p+now · · Score: 2

      I'll bite... and exactly what would you advocate to "fix the distribution of wealth in this country"?

      For starters, we could tax capital gains (which constitute most of income for the proverbial "1%") at the same progressive rate as we tax wages (which constitute most of income for 99%). It won't reverse the existing distribution, but it will significantly reduce the rate at which it grows, and bring in more money for the budget to solve systemic problems in the economy - perhaps even enough that no further adjustments are needed.

    63. Re:Great by Politburo · · Score: 1

      If they live better, then why not go that route? Probably because you'd quickly find that it isn't at all better than what you have.

      For a 1-person household, you have to make less than $14,160 to be eligible for "free food".. and you get a max of $200 for a month. After 3 months, if you don't have a job (or children), say goodbye to your benefits for at least 3 years.

      Housing is a bit more complicated but Section 8 isn't usually "free housing" (it's a partial subsidy unless you have literally zero income and assets) and "projects" have a negative connotation for very good reasons. There's also multi-year waiting lists in most areas so good luck with that, assuming you can even get on the waiting list.

      Free basic education is not predicated on income levels. Pell grants for higher education rarely cover all costs.

      If you make "happy meal an hour" wages then you should be getting most of your income taxes refunded, and likely qualify for other refunds (e.g. some jurisdictions have property tax refunds).

    64. Re:Great by thejaq · · Score: 2

      Lump capital gains with income, eliminate corporate taxes, end exemptions above 2x median income, add tax brackets based on multiples of the median wage with say 99% above 10,000x median wage, eliminate death tax loopholes, recognize total compensation (e.g. use of jets, houses, cars) as income, institute similar rules on multi-nationals that would like to do business in the US

      Wholesale theft and armed robbery (but we'll call it taxes and execute it through the government so it'll be okay)?

      If you're one of those people who doesn't recognize a social contract .. we'll tax your departure. Or if your wealth is that important, renounce your citizenship, never return, and take all your money.

    65. Re:Great by Anonymous Coward · · Score: 0

      "When some people have no food or medical care, and others have two cars and a nice house, ... "

      Here. Let me fix that for you.

      "When some people have no food or medical care, and others have 5 mansions, a learjet, a villa on Lake Lucerne, and a fulltime traveling wait staff, .... "

      Your lack of awareness of the actual discrepency between the truely rich and the poor or middle class is quite obvious.

    66. Re:Great by heathen_01 · · Score: 1

      Conscription.

    67. Re:Great by 140Mandak262Jamuna · · Score: 2
      The general idea is ok.
      • Make no distinctions between earned income, investment income, capital gains, dividends, gifts. Everything is incoming money, so it is income. That would simplify the tax code a lot.
      • To encourage investing instead of speculation, permit the cost basis for capital gains to be indexed to inflation. That way holding a security for a long time does not incur heavy penalty when you sell.
      • On the expense side, exempt 10% or 15% as deduction. Withdrawals from this pre-tax savings account would count as income. This would allow middle class also to tax-manage their income. Right now only the rich are able to tax-manage their income.
      • Remove all exemptions, mortgage interest, charitable donations, educational expenses blah blah, and give a blanket exemption of something like two or three time poverty line. Use the exemption to buy a home or live in rented home and spend it on clothes. Your choice. This would simplify tax code further.
      --
      sed -e 's/Chuck Norris/Rajnikant/g' joke > fact
    68. Re:Great by orphiuchus · · Score: 1

      I wish I had mod points, this is a great response.

    69. Re:Great by xelah · · Score: 1

      There's an interesting aspect to this, at least as far as the very very wealthy are concerned (not the top 1%, but maybe the top 0.001%). The share of both wealth and income that, say, Bill Gates has are unlikely to represent the share of economic output he actually consumes.

      If your Revolutionary Guard were to execute him and redistribute everything he owns, earns and consumes then mostly what your comrades would receive would be Microsoft stock and other such assets. They'd get some food, cars, energy, land, coach class air travel and so on which they could consume, but mostly what they'd get is control over corporations. They could sell that to someone else, thus further moving around consumption, but it wouldn't turn in to something to eat or drink.

      That transfer of control may, of course, fit very well with your objectives. But given that the very-very-rich often use their riches for nothing more than generating more riches whilst gaining control over stuff (mainly because there's only so much you can usefully consume anyway) you should be wary of thinking that taking the $x of wealth owned by the top y% of people means that everyone else can have $x/(pop. * 1-y) more....you might find that mostly what you get is higher prices, at least when more typical economic times return.

    70. Re:Great by Anonymous Coward · · Score: 0

      how's that not a tax?

    71. Re:Great by Anonymous Coward · · Score: 0

      Indeed. Banks have long-since considered everything that happens during simple credit card fraud, and covered their asses. That's their business.

      On the other hand, having my cc# stolen and used hurts me, and I'm pretty sure I'm not the intended target. Will I manage to cry foul and get the money back? Probably (or rather, hopefully). But depending on how much is stolen it could be a really painful experience for me where nobody else benefits.

      I don't need that. Especially during the holidays.

    72. Re:Great by krinderlin · · Score: 1

      It seems that the logical conclusion of your argument is as follows:

      They, being the rich or super-rich or whatever term describes "they", own everything. So no matter what you do to hurt them, they'll turn it around and make it cost the poor and middle-class even more. Hence, we probably live in a plutocracy, as a result of a plutonomy.

      My personal extension of this conclusion is: If they hold all the cards, the only option we have left is to give 'em a black eye and take the cards back.

    73. Re:Great by Grishnakh · · Score: 1

      Don't be stupid. Consumer protection laws prevent the big banks from taking this money out of the accounts of their customers; for fraudulent transactions, they either have to get the money back from the merchant (making the merchant eat the expenses), or else the bank has to eat the expense themselves. Anonymous's plan isn't to create fraudulent transactions with a bunch of small businesses. Of course, giving the money to a bunch of charities isn't smart either, because those charities will suffer by having to pay back the money plus a bunch of fees. The bank account holders won't suffer at all, except possibly from some inconvenience depending on how the banks handle it. If the banks handle it poorly (such as by not refunding their money for 2 weeks when they have to make mortgage payments with that money), hopefully these account holders will get smart and move their money to a credit union or small community bank, since those aren't targeted by groups like this (they only hate the big multinational banks like BofA, Chase, etc.).

      Personally, even though I love the idea of sticking it to the Big Banks even if it involves illegal means (and why should anyone care about the law anyway? Laws are bought by big corporations anyway rather than being made in the interest of society), I think the idea is bad, unless Anonymous can figure out some way of sending the money offshore to some destination where the banks won't be able to get them to send it back, forcing the banks to eat the loss.

    74. Re:Great by Grishnakh · · Score: 1

      The insurance companies pay. Guess where that extra money comes from? Yes, it comes from everyone. If the insurance premium goes up for banks. banks go and raise their fees, affecting everyone (especially the poor).

      Is this really true however? Will insurance companies raise their premiums for all banks, or just the big banks that are targeted for vigilante actions like this? If it only affects the big banks, then what's the problem? Consumers are free to move their money to small community banks or credit unions; this issue has been discussed at length in previous Slashdot stories over the past several months. If your bank raises its fees, but the competing credit unions near you don't, then you're an idiot for not moving your money and deserve to lose money in big fees. This is even more true these days, with all the public movements encouraging people to move their money, and even a new law being proposed to make it easier to move your money (it's not hard even now; you just have to show up in person and say "I want to close my account").

    75. Re:Great by Anonymous Coward · · Score: 0

      This a hundred times. I'd be considered middle class, but for the next few months, I can't even afford getting coffee from Tim Hortons. And I'm not talking 'daily' here... I'm talking 'for the next few months'.

      Middle class still == living paycheque to paycheque for many.

    76. Re:Great by JustSomeProgrammer · · Score: 1

      You're taking it further than the parent poster and making it harder for me to support your proposal because of the additional things you've tacked on like not exempting charitable donations or education expenses which are exemptions I have used even when my income was at or below poverty line. Education expenses are usually allowed beyond the standard deduction as long as your income is below a certain level.

    77. Re:Great by JustSomeProgrammer · · Score: 1

      I grew up in areas below poverty line and have lived in projects. Housing was never free; we always had rent and when I worked a part time job for some spending cash there was more than one time I had to help pay it. And I don't know anyone there that drove a Cadillac. Mostly we had shitty 5 - 10 year old cars and prayed nothing broke on them (like the tires).

      You have it hard not saying you don't. But seriously you have a car. I knew a lot of people who couldn't afford that. And college would have been impossible without financial aide.

    78. Re:Great by xelah · · Score: 1

      As I've argued in another comment (here), redistributing the wealth of the sort of CEO who receives a $100m severance package won't necessarily have the impact on the consumption of the poor as you might expect. Some, of course, but redistributing $100m of wealth won't necessarily translate to ~$350 of extra consumption for everyone else, especially when the economic climate is more normal.

      Secondly, you mention corporations. Corporations which own assets own them as proxies for their owners. Taxing corporations is equivalent to taxing the incomes of their owners. I'd argue it's better to target their owner's incomes (and employees) because then your tax rate will be appropriate to that person's income.....the non-wealthy retired granny living partly on the dividends from the stock she bought when she was younger doesn't then get hit by your tax. In short, I don't believe there to be a second big pot for you to go after for distribution.....not least because big chunks of those pots are also being counted in the wealth of the wealthy via the value of their stock holdings.

      Finally, whatever process your favoured economic system uses to distribute or redistribute output will have two effects. It'll have the obvious one, that of causing a different distribution of consumption, but it'll have a secondary one of changing the incentives economic actors face. Redistribution almost always imposes a cost in the form of poorer economic decisions (less output, wrong output, under/over-employment for some individuals, etc.) caused by distorted incentives. Maybe it's vanishingly tiny for those with $100m, maybe that CEO will retire and be replaced with a corporate clone, but it's probably more important for those being paid $500k per year. The cost may be worth it, depending on your views, but it's there.

      You haven't said how large you think the effect would be, but I think you may be naive about just how much redistributing the wealth of the wealthy can affect the lives of the poor without broadening your definition of 'wealthy' to include quite a lot of those you might think of as 'middle class'. I'd guess that a much bigger change would come from something else: there are millions who want to consume more, there are millions un/under-employed willing to produce more...join them up.

    79. Re:Great by KermodeBear · · Score: 1

      A federal government that does little more than provide for my safety, prosecutes federal crimes, acts as a unified entity to other countries, and keeps up interstate infrastructure sounds like a dream to me.

      Everything else can be done by the states.

      --
      Love sees no species.
    80. Re:Great by KermodeBear · · Score: 1

      For the people who very helpfully tagged my comment as 'troll', I'd like to remind you that the idea of a small, limited government is what this country was founded on.

      Asshats.

      --
      Love sees no species.
    81. Re:Great by drsmithy · · Score: 1

      A federal government that does little more than provide for my safety, prosecutes federal crimes, acts as a unified entity to other countries, and keeps up interstate infrastructure sounds like a dream to me.

      Which still requires taxation.

      Everything else can be done by the states.

      So how are you planning to fund your state government without taxation ?

    82. Re:Great by Osgeld · · Score: 1

      I have no choice but to own a car as our state chooses to have no public transportation (well outside of the freaking ghetto) but our city just got 3 new parks, its a 40 min drive to work, so what am I suposta do? walk on a interstate leaving at midnight? then walk home just to get back there at midnight?

    83. Re:Great by 140Mandak262Jamuna · · Score: 1
      You are assuming the standard deductions will stay at the current levels and only the charitable donation exception will be removed. Two problems with that.

      1. The standard deduction has to increase substantially, something like 3 or 4 times the poverty level. Between 18K to 24K per person. In reality the charitable donations are a great way for really rich people to do all their spending tax free. You typically are not rich enough to found a charitable foundation, with charters and accountants complying with all the laws. But if you do, you can nominate your own cronies as the directors and they can spend the money on anything you choose. Charitable foundations are one of the vilest tax shelters used by some of the richest people. You think of churches, soup kitchens, scholarship grants. They use it to pay tuition for their nieces and nephews, engage in political action and maintain vacation villas.

      2. Some people need education, some people might be caring for elderly parents or some might have a special need child. Give a generous base exemptions and let us get the government out of the business of choosing what level of charitable donations or child care or elder care or medical care should be tax exempt and what should not be.

      3. In fact there could be a quick acting tribunal administered IRS for people with exceptional circumstances to petition for additional exemptions. A quasi judicial procedure to allow that lone bubble boy to have higher deductible than the rest of more fortunate of us.

      --
      sed -e 's/Chuck Norris/Rajnikant/g' joke > fact
    84. Re:Great by atriusofbricia · · Score: 1

      Lump capital gains with income, eliminate corporate taxes, end exemptions above 2x median income, add tax brackets based on multiples of the median wage with say 99% above 10,000x median wage, eliminate death tax loopholes, recognize total compensation (e.g. use of jets, houses, cars) as income, institute similar rules on multi-nationals that would like to do business in the US

      Wholesale theft and armed robbery (but we'll call it taxes and execute it through the government so it'll be okay)?

        If you're one of those people who doesn't recognize a social contract .. we'll tax your departure. Or if your wealth is that important, renounce your citizenship, never return, and take all your money.

      I recognize a difference between legitimate taxes, those used entirely or primarily for the purposes of providing service to the nation at large, and those which I would to classify as theft, those primarily designed either merely to redistribute wealth or to benefit one segment of the nation at the intentional expense of another.

      That said, the problem with some of your suggestions, but not all of them, is that it seems that most of them are more designed to redistribute wealth than pay for the legitimate operation of the government. Additionally, I cannot fathom why anyone would want to give such a wasteful entity as the government even more money and power.

      --
      I was raised on the command line, bitch

      "Nemo me impune lacesset"

    85. Re:Great by atriusofbricia · · Score: 1

      I'll bite... and exactly what would you advocate to "fix the distribution of wealth in this country"? Wholesale theft and armed robbery (but we'll call it taxes and execute it through the government so it'll be okay)?

      So you're clearly someone who believes there should be no taxes at all.

      How are you planning to finance even a basic and useless Government that does nothing more than provide an army and court system ?

      I fail to see how this is even remotely Insightful as it is made up of primarily a huge assumption. I said nothing about all taxes being theft. If you read carefully you may realize that the taxes I was speaking of are those designed with the goal of "wealth redistribution" in mind. If you think that I believe taxes designed to take from one group and give to another at the preference and discretion of government is theft then you're right.

      The only legitimate justification of taxes are to pay for legitimate functions of a proper limited government. It should not be the role of government to see that you are fed, clothed and housed. Nor is it the proper role of government to decide, by way of wealth redistribution, that someone is too rich and we must take from them and give to someone else.

      --
      I was raised on the command line, bitch

      "Nemo me impune lacesset"

    86. Re:Great by farble1670 · · Score: 1

      Remove all exemptions, mortgage interest, charitable donations, educational expenses blah blah, and give a blanket exemption of something like two or three time poverty line. Use the exemption to buy a home or live in rented home and spend it on clothes. Your choice. This would simplify tax code further.

      taxes do not simply provide incoming for the govt ... they allow the govt to influence people's behavior. that's an important thing. education, charitable giving are benefits to society that should be encouraged. if you respond to this by saying that the govt shouldn't be able to influence your behavior ... well, you live in a society and that means sometimes doing what's best for the society in general. giving folks a break on taxes at least is only encouraging the behavior, not forcing it.

      as for mortgage interest ... i think the idea is that it distributes wealth. in stead of the property being owned by a few rich landlords, it's spread out across home owners. this is a true perk for the middle class. when it comes to owning a home, the most cost-effective thing to do is simply pay cash, and that is what the truly wealthy will do.

    87. Re:Great by drsmithy · · Score: 1

      I fail to see how this is even remotely Insightful as it is made up of primarily a huge assumption. I said nothing about all taxes being theft. If you read carefully you may realize that the taxes I was speaking of are those designed with the goal of "wealth redistribution" in mind.

      All taxation is essentially wealth redistribution of some kind.

      The only legitimate justification of taxes are to pay for legitimate functions of a proper limited government. It should not be the role of government to see that you are fed, clothed and housed.

      Many - probably most - would argue that providing for basic living conditions are absolutely a legitimate function of Government.

      Nor is it the proper role of government to decide, by way of wealth redistribution, that someone is too rich and we must take from them and give to someone else.

      So your ideal taxation structure would be one where everyone pays an identical, fixed amount each year, independent of their income or wealth ?

    88. Re:Great by EdIII · · Score: 1

      It is not an apology. It is not half assed. I *did* explain away the inconvenience.

      I am not an apologist for Anonymous.

      What I said was:

      1) It won't be as bad as people think to the "middle class"
      2) Charities won't prosper for this
      3) Anonymous is wrong for doing it
      4) Bankers suck.

      Was that easier for you to understand?

    89. Re:Great by EdIII · · Score: 1

      You're wrong.

      You should be checking more often of course, but I think federal law went into place that allows you to change the policy with the bank so that they cannot bring your account negative. Basically, you can remove their discretion to approve charges that you can't cover. That makes overdraft fees impossible.

      I know it is state law in my state because I did opt for the new policy. Overdraft fees are now impossible on my banking account, and that is without a savings account or an attached line of credit.

      Furthermore, I had not read the article (first time -- I swear), but Anonymous says they are specifically excluding debit cards. That means the worst that could happen is that the credit card charge gets denied.

      Also, for your own information, banks are required to return any fees charged to you that were a result of fraudulent activity. This usually occurs in the form of a provisional credit if it is abundantly clear it is fraud or you are in good standing. If it is a dispute and is ultimately resolved in your favor they will also refund any overdraft charges.

      That is from personal experience with Wells Fargo. It happened for a large amount and they refused to issue the provisional credit, but a little over 30 days later it was determined to be fraud and everything was returned to me. I promptly switched banks, but the point is I got my money back by law. Unfortunately, the law also gives them that much time to determine if it is fraud.

      Look up your state laws and read your banking agreement. This is true for most banks that I know of, and I am comfortable that this applies to your bank too so they remain competitive.

      I really would not seriously worry about this affecting you personally.

    90. Re:Great by Ash+Vince · · Score: 1

      You're wrong.

      No, I am not for the reasons I shall outline below

      You should be checking more often of course, but I think federal law went into place that allows you to change the policy with the bank so that they cannot bring your account negative. Basically, you can remove their discretion to approve charges that you can't cover. That makes overdraft fees impossible.

      I live in the UK so any federal law will not apply to me.

      Look up your state laws and read your banking agreement.

      I had looked up my banking agreement recently as a result of the £125 charge they stung me with this month for going £40 over my agreed overdraft limit as a result of my credit card minimum payment coming out even though I had already paid a large chunk it off as a one off extra payment. I mistakenly assumed they would not take the minimum payment as I had already paid some money off this month. My banking agreement say this is perfectly acceptable so I have to swallow the charge (and then move to another bank who are slightly less evil if I can find one).

      --
      I dont read /. to RTFA, I read /. to offend people in ignorance.
    91. Re:Great by JustSomeProgrammer · · Score: 1

      Not saying that. But I am trying to point out the truly poor... they don't even have the option of having your job. Most people live better than they realize. I realize it because I have moved really far up the socio-economic ladder in my life. I see where I came from and where I am now. There's so much disparity in perception it amazes me.

    92. Re:Great by EdIII · · Score: 1

      Sorry, I made the mistake of assuming you were in the US. It seemed that Anonymous was attacking US financial institutions.

      Your banking laws and agreements suck. I guess we have better consumer protection at the card level and just let them screw us over at the higher levels... like home financing.

      In any case, this will not affect you. They are going after corporate level credit cards and explicitly ruled out debit cards.

  5. I suspect they're bluffing by Anonymous Coward · · Score: 1

    I seriously doubt they're going to do much damage stealing from banks. They will attract a lot more attention from people who have no problem locking them up without trial however.

  6. Sounds Great! by somebodee · · Score: 2

    Lets screw up the system that the US dollar is based off of! It's not like the dollar is the global standard for currency in international trading or this would have deep impact on the global economy or anything like that. I'm personally kinda tired of crap like this. Yes, its fine to have a mission or a goal, but at least consider the ramifications of what you're attempting to do. Seriously.

    1. Re:Sounds Great! by Anonymous Coward · · Score: 0

      I'll assume that comment was levelled at the central banks, federal reserve et al...

  7. Shit or get off the pot by Anonymous Coward · · Score: 1

    Making threats doesn't really mean anything. If they do do it, good for them. However making useless threats just means potential attack vectors will close up.

    1. Re:Shit or get off the pot by cyachallenge · · Score: 2

      Actually, threats like these may persuade tens of thousands to move to credit unions and causing measurable losses in already hurting big banks. Sometimes anticipation of an attack is more important than the follow-through.

    2. Re:Shit or get off the pot by swalve · · Score: 1

      OWS! OWS! Watch out, we might do something!

    3. Re:Shit or get off the pot by CanEHdian · · Score: 1

      Anonymous would have done better by releasing a couple of informational videos as to why to move to a credit union including a name-and-shame of Big Banks. They have a large audience. Hurting banks by hurting their "regular folk" customers is not going to work. Anonymous will be perceived as "the enemy" (with a little help from the Banking Clan and their friends). It appears they have forgotten the outrage that was caused by the PSN outage; whoever did that was not seen the David slaying the Evil Sony Goliath, but the a**holes who kept people's games and Netflix from working.

      --
      When the copyright term is "forever minus a day", live every day like it's the last.
    4. Re:Shit or get off the pot by mug+funky · · Score: 1

      ooh, i like that idea. intentionally cause multiple bank runs. it'd be like the great depression all over again.

      the threat is likely enough.

  8. Probably not that smart by Improv · · Score: 4, Informative

    I'm sure the big donation targets won't mind the hassle of dealing with angry people trying to get their money back... and likely police involvement. That's just what charities need.

    --
    For every problem, there is at least one solution that is simple, neat, and wrong.
    1. Re:Probably not that smart by Anonymous Coward · · Score: 0

      Obviously they need to start donating to the church of scientology and rep/dem candidates then

  9. Well by Anonymous Coward · · Score: 0

    From a consequentialist view, this would be useful if it incentivized big banks to finally get their act together in terms of security. This would only happen, though, if the people whose credit were used were influential enough to change the laws or have the banks change their policies (i.e. they would have to be the very high value clientele).

    From a moral standpoint, it strikes me as a little too equal-opportunity to be morally legitimate, even assuming that robbery is not a per se problem. To my mind, someone like Bill Gates or Warren Buffet, or others less rich who have donated heavily, have no business being pilfered by Robin Hood.

  10. The Real Crime by Anonymous Coward · · Score: 5, Funny

    is bringing up that terrible Robin Hood: Prince of Thieves movie. That's unforgivable.

    1. Re:The Real Crime by Darinbob · · Score: 4, Funny

      They should have used Men in Tights!

    2. Re:The Real Crime by Anonymous Coward · · Score: 0

      Yeah I was barracking for Alan Rickman in that one.

    3. Re:The Real Crime by mr100percent · · Score: 1

      Aw come on, that was a pretty good movie. Maybe one of the best roles Morgan Freeman had was playing a Good Guy Muslim.

    4. Re:The Real Crime by RazorSharp · · Score: 1

      Well, it was better than the Ridley Scott one with Russell Crowe. How that duo couldn't top the Kevin Costner disaster is beyond me.

      --
      "From the depths of my skeptical and rationalist soul, I ask the Lord to protect me from California touchie-feeliedom."
  11. I don't see a problem with it. by axlr8or · · Score: 1

    If you haven't been watching the market, all this stuff is pretty well practiced. With the super high highs and the low lows there is a lot of speculation going on and. By golly doesn't it seem as if its planned. I say let em. It's better than breaking into a bank and shooting people. Furthermore, no body gets to see inside the brothel until you either pay up, or burn the house down. I will say this, as someone who classifies himself as poor, I'm not really affected (yet) by all this grandstanding, so I'm not worried.

  12. Not the way to do this by Nidi62 · · Score: 5, Interesting

    So, they want to steal peoples' credit card info and use that to donate those peoples' money to charities. Then the banks have to reimburse the people whose info was stolen. There are a lot of things wrong with this. First off, for those people whose info gets stolen, they are out money until the banks go through the process of reimbursing them. With the numbers of people that would be affected by this, that could take a while. So, people will be short of cash at a time when they need it most: the holidays. This is not going to endear people to their cause. Also, what is going to happen to this data? I really doubt it's going to be deleted. Remember, Anonymous can be anyone. This information will end up for sale on black market sites. You should not be breaking the law and endangering innocent people/invading their privacy just because you don't like the bank. They are really showing themselves to be no better than the banks themselves; they are taking other peoples' money and doing whatever they want with it that servers their purpose, regardless of the consequences.

    --
    The only thing necessary for evil to triumph is for it to be pitted against a slightly greater evil
    1. Re:Not the way to do this by Shikaku · · Score: 2

      There are a lot of things wrong with this. First off, for those people whose info gets stolen, they are out money until the banks go through the process of reimbursing them. With the numbers of people that would be affected by this, that could take a while. So, people will be short of cash at a time when they need it most: the holidays.

      This is a brilliant plan if they can actually pull it off at a high enough scale. This forces people to NOT spend for the holidays. Big banks (Visa gets a cut everytime you use your credit card!) and retailers like Walmart take a hit.

    2. Re:Not the way to do this by Nidi62 · · Score: 2

      This is a brilliant plan if they can actually pull it off at a high enough scale. This forces people to NOT spend for the holidays. Big banks (Visa gets a cut everytime you use your credit card!) and retailers like Walmart take a hit.

      Yes, but people should be allowed to make that choice for themselves. People talk about "voting with your wallet" a lot on Slashdot (usually aimed at companies like Sony or music labels), but voting with your wallet only works when the election isn't rigged. If this happens and the banks don't get their cut, they aren't going to change their ways, because they know their depositors weren't the cause of this; they were forced into it. Essentially, this is like the opposition party posting armed thugs outside voting booths; they might win the election, but the incumbent party isn't going to recognize the results, and rightly so. The ends should never justify the means. If you have to rationalize your actions, they are probably wrong.

      --
      The only thing necessary for evil to triumph is for it to be pitted against a slightly greater evil
    3. Re:Not the way to do this by Darinbob · · Score: 1

      And the economy gets screwed up royally. People use credit cards at small retailers too, many of whom are in the red until the holidays. Yes it's sad that the economy depends on the holiday spurt in spending but shooting the horse doesn't cure its limp.

    4. Re:Not the way to do this by Anonymous Coward · · Score: 0

      Credit cards work on credit, not on bank accounts. They would be short on credit before being fixed, not any actual cash.

    5. Re:Not the way to do this by Sarten-X · · Score: 5, Insightful

      This is Anonymous we're talking about. The same group of pissed-off adolescent-minded individuals who think it's perfectly reasonable to kill the livelihood of thousands of online retailers because MasterCard and PayPal didn't want to risk dealing with WikiLeaks.

      The kind of people who participate in Anonymous's activities don't often care about silly things like "consequences". They care about making news, so they can feel like they're a part of something bigger than themselves. They want the good feeling of doing something to improve the world, without any of the hassle involved in actually contributing to improving society.

      Sometime over the past few decades, people have forgotten that major cultural changes were preceded by essays, speeches, and persuasive arguments, endorsed by displays of public support. Now, "protesting" has turned into an orgy of destruction and disruption, in the hopes of extorting change.

      --
      You do not have a moral or legal right to do absolutely anything you want.
    6. Re:Not the way to do this by Anonymous Coward · · Score: 0

      I honestly do not think they are interested in endearing people to their cause. That projection is the result of a politically charged society we're living in right now, where it's been decided (somehow) that it matters what people think of a certain action.

      To a group of self-righteous hackers, it's not about sending a message to gain political support from you or anyone. It's about actually helping charities (if it were to actually work, which it seems like it might not).

      Robin Hood wasn't running for President, in case you forgot the story.

    7. Re:Not the way to do this by ThorGod · · Score: 2

      Sometime over the past few decades, people have forgotten that major cultural changes were preceded by essays, speeches, and persuasive arguments, endorsed by displays of public support. Now, "protesting" has turned into an orgy of destruction and disruption, in the hopes of extorting change.

      Bingo! Somehow, I've noticed a distinct turn away from the written word. We don't have time for it. "Oh, I have to read something? Forget it, I'll go play Angry Birds."

      That might just be the people I know, though...this city has that affect upon people.

      --
      PS: I don't reply to ACs.
    8. Re:Not the way to do this by ThorGod · · Score: 2

      It's about actually helping charities (if it were to actually work, which it seems like it might not).

      Robin Hood wasn't running for President, in case you forgot the story.

      Do you honestly think any (honest) charities out there actually want stolen contributions?

      If you want to help someone, ask that *someone* what they need. I'd bet they'd appreciate honest, volunteer IT work more than dishonest funds (that they ultimately can't accept). If that sounds like trash, well, program up a two dollar app and donate the proceeds. There are ways to make an honest contribution to society with l33t hacker sk1LL

      --
      PS: I don't reply to ACs.
    9. Re:Not the way to do this by atriusofbricia · · Score: 1

      There are a lot of things wrong with this. First off, for those people whose info gets stolen, they are out money until the banks go through the process of reimbursing them. With the numbers of people that would be affected by this, that could take a while. So, people will be short of cash at a time when they need it most: the holidays.

      This is a brilliant plan if they can actually pull it off at a high enough scale. This forces people to NOT spend for the holidays. Big banks (Visa gets a cut everytime you use your credit card!) and retailers like Walmart take a hit.

      Yeah, screw those people working at walmart who get laid off when walmart takes a hit. Because they shouldn't have been working for the Evil WalMart anyway, right?

      --
      I was raised on the command line, bitch

      "Nemo me impune lacesset"

    10. Re:Not the way to do this by DerekLyons · · Score: 1

      This is a brilliant plan if they can actually pull it off at a high enough scale. This forces people to NOT spend for the holidays. Big banks (Visa gets a cut everytime you use your credit card!) and retailers like Walmart take a hit.

      So will the independent optical lab my best friend works at. So will the independent hardware store another friend works at. So will the independent motor sports dealer my wife works at.
       
      People don't just use their credit cards for holiday purchases or just at big box stores. If they pull this off at a 'high enough scale' to impact the big banks and retailers, a lot of little businesses and innocent people are going to get hurt too. Not to mention the workers at the charities who'll be spending hours dealing with irate people whose cards were falsely charged and in making chargebacks to give the money back.
       
      It's saddening that you fail to realize this.

    11. Re:Not the way to do this by RazorSharp · · Score: 1

      Sometime over the past few decades, people have forgotten that major cultural changes were preceded by essays, speeches, and persuasive arguments, endorsed by displays of public support. Now, "protesting" has turned into an orgy of destruction and disruption, in the hopes of extorting change.

      I think you've forgotten all the major cultural changes that occurred through riots and revolutions conducted by illiterate masses. I'm not saying that the written word hasn't brought about its fair share of cultural change throughout history, but you're kind of guilty of a 'good old days' fallacy. One of the greatest cultural changes in history was the hellenistic period, which was a result of Alexander the Great conquering every piece of land he ever saw through bloody warfare.

      Sure, Voltaire's writings preceded the French Revolution. But it was the unwashed masses who made the revolution happen by causing utter chaos and violently overthrowing the government. Voltaire's writings would have amounted to doodley squat without a famine to make the illiterate masses desperate (bread and circuses fail when you run out of bread).

      Another example: Josef Stalin, a career criminal, joined the Bolsheviks because he was a criminal; not because he had a special place in his heart for the writings of Karl Marx. We all know how that turned out.

      I could go on with many more examples, but the point is that none of what's going on with Anonymous is historically unprecedented. Cultural change is rarely, if ever, a civil and clean process. Maybe they are doing more harm than good, I dunno, I disagree with a lot of what they do. But I do know that social change won't occur by writing about it.

      http://www.youtube.com/watch?v=YawagQ6lLrA&feature=related

      http://en.wikipedia.org/wiki/Fallacy_of_the_single_cause

      http://en.wikipedia.org/wiki/Post_hoc_ergo_propter_hoc

      http://en.wikipedia.org/wiki/Wrong_direction

      http://en.wikipedia.org/wiki/Cherry_picking_(fallacy)

      --
      "From the depths of my skeptical and rationalist soul, I ask the Lord to protect me from California touchie-feeliedom."
    12. Re:Not the way to do this by Sarten-X · · Score: 1

      I'll be clearer:

      persuasive arguments, endorsed by displays of public support

      I do not discount the existence of successful uprisings in history without written essays, nor do I think that such cultural changes would have happened without the mass support of the public. I do, however, question whether rampant disruption aimed vaguely in the direction of some perceived evil target will be effective as a means of change.

      As you pointed out, the Hellenistic era was led by Alexander the Great, supported by his armies.

      During the early French Revolution, a man by the name of Abbé Sieyès proposed the idea of transforming the French people's government representation from a minor gesture of courtesy into a major power. Eventually, he went on to fill a role much as Thomas Jefferson did in the United States' founding, writing documents to frame the new government.

      The Russian Revolution was the closest example yet discussed to a leaderless revolution, but there were many voices actively promoting the major events. Of particular note is Alexander Guchkov, who promoted the idea of overthrowing the Tsar. Another major voice pushing for revolution was the Tsar himself, who was so blinded by arrogance that he made no effort to appease the population, but rather appeared to try to enrage them.

      The point is that major cultural changes are usually aimed at a specific goal, whether it be conquering a continent, gaining representation, or removing arrogance from power. Regardless of what that goal is, it must be defined, and the best way to do that is with a clear voice stating what the chaos is for, and how the plan will progress.

      --
      You do not have a moral or legal right to do absolutely anything you want.
    13. Re:Not the way to do this by Anonymous Coward · · Score: 0

      Part of the problem is that modern discourse no longer consists of persuasive argument, but rather base appeals to emotion. There is no longer any meaningful audience for real debate, and so those that feel the need for change are willing to use similarly irrational - though more destructive - tactics.

  13. Stolen credit cards? by artor3 · · Score: 4, Insightful

    So, given the demographic that most often uses credit, they're going to steal from the poor to give to the poor? Except they're not even going to give to the poor, but rather they'll give the stolen funds to people who normally help the poor, thus causing trouble for them. So really, they're going to steal from the poor to harass the people who help the poor. This seems poorly thought out.

    If they somehow manage to steal exclusively from millionaires, and if they don't keep a dime for themselves, and if they do it in such a way that it doesn't cause headaches for the charities involved, then fine. More power to them. But somehow I suspect that none of those three criteria will be met.

    1. Re:Stolen credit cards? by veldon · · Score: 1

      If they somehow manage to steal exclusively from millionaires, and if they don't keep a dime for themselves, and if they do it in such a way that it doesn't cause headaches for the charities involved, then fine. More power to them.

      So in your perfect world any person who has managed to accumulate 1 million dollars or more deserves to be stolen from. They have too much money in your view. If you had spent decades working, saving, taking risks so that you could retire I suspect your myopic view would be a little different.

      This is the problem with socialistic thinking. Where is the cutoff point? By whose judgement are we to determine what is enough wealth? Where is the incentive to be a productive member of society when too much success by someone's arbitrary measure warrants government fines? And don't give me any of Alfie Khan's academic "intrinsic motivation" BS. This is the real world and without tangible incentives to individuals society will cease to progress.

      I'll step down from my soapbox now.

    2. Re:Stolen credit cards? by artor3 · · Score: 2

      No, in my perfect world, they would give up their excess money voluntarily, so that the following generation can enjoy the same privileges that helped them reach their current heights.

      In my near perfect world, the government would collect taxes in a sane manner, so that wealthy bankers pay a higher percentage than their secretaries and multi-billion dollar corporations pay at least something.

      But in our current world, most of the rich choose to hoard their money, and they have purchased enough senators to ensure that their taxes are next to nothing. So non-violent theft becomes an acceptable option.

      It has been said that taxes are the price you pay to live in a civilized society. The robber barons and their bribed congressmen who have been driving down taxes for decades apparently need to learn that lesson first-hand. I'd rather they learn it through theft than through violence. And make no mistake, if we continue our march back to the Gilded Age, it will come to violence.

    3. Re:Stolen credit cards? by Anonymous Coward · · Score: 0

      "Where is the cutoff point?"

      I don't know, but by ANY reasonable measure, a million dollars is beyond it.

      Guess what? Some of us work 60 hour weeks to scrape by, and have an average end-of-month balance in our bank accounts of around $300. We work to get by, to eat. So yeah, the people with a million bucks, I'm not feeling too sorry for those 1%-er assholes.

      It's high time to tilt the playing field back towards the rest of us, and away from the rich who have tilted it to themselves for too long. And guess what? Anybody with a million dollars is RICH.

    4. Re:Stolen credit cards? by Anonymous Coward · · Score: 0

      Where is the cutoff point?

      When you have more money then you or your heirs can spend in multiple lifetimes?

    5. Re:Stolen credit cards? by Anonymous Coward · · Score: 0

      No one is stopping you from saving, from getting an education, from getting a better job, except you. If you are working 60 hours a week and you can't sock some money away, you may have a spending problem.

      I was poor. I worked 60 hours a week between three jobs. I started each job at minimum wage. I got raises. I took advantage of every overtime and holiday pay opportunity. I worked my ass off. I spent little. I saved a lot. I had a friend who routinely worked nearly every waking hour of his life for a few months so he could save up to get an education.

      Spend some of your time learning how to handle your money. There are a shitload of blogs out there to help you learn how to spend less, earn more, how and where to invest your money, coupons, deals, bonuses for adding accounts, fixing your credit, living off-the-grid. You name it.

    6. Re:Stolen credit cards? by Anonymous Coward · · Score: 0

      No, in my perfect world, they would give up their excess money voluntarily, so that the following generation can enjoy the same privileges that helped them reach their current heights.

      Let me get something straight.

      A person works for a median salary over 30-40 years. They wisely invest and save for retirement at the age of 65. At which point, they have likely secured a nest egg around a million or a million point five. This should be sufficient for them to live off for 15-20 years at or close to the standard of living which they enjoyed while working.

      Yet, what you're suggesting is that these people should forego retirement, continuing working until they die, and give all their retirement to the "following generation" so they can enjoy the "same privileges."

      That is some messed up thinking there, bro.

    7. Re:Stolen credit cards? by artor3 · · Score: 1

      I'm suggesting nothing of the sort. You need to learn what the word "excess" means. Maybe invest in a dictionary.

      What I'm suggesting is that if someone's making 10 million bucks a year, they could easily guarantee a luxurious life for themselves and everyone they love on a fraction of that. So they should give up, say, half of it. Give 5 million a year, of their ten, to help other people. After all, the only reason they're even able to make that much is because of the fantastic circumstances they chanced into. You think Steve Jobs would have been a success if he had grown up in Somalia? The rich owe it to society to provide future generations the same benefits they took advantage of.

    8. Re:Stolen credit cards? by Anonymous Coward · · Score: 1

      > If you are working 60 hours a week and you can't sock some money away, you may have a spending problem.

      Well, fuck you, buddy. Seriously, just fuck you. You have NO IDEA what my life is like. You don't know that I support my kid sis who is OUT OF A JOB because of this shitty economy and has been looking for the last 18 months for one. You have no idea that I have to pay my own student loans AND HERS. You have no idea I send as much as I can to support my parents, who aren't doing well either. You have no idea that I make EVERY ONE of my own meals from scratch to save money, mostly beans and rice and veggies, that I have no BLOODY CELL PHONE because I can't afford even the cheapest plans. You have no idea that I spend not a single godddamn dollar on anything I don't have to. You have no idea that I don't have a car, take shitty dangerous public transit everywhere I go. You have no idea how I live.

      Just fuck off, alright? Don't tell me I have "spending problem". Just fuck off. Come back when you have lived in my shoes for a while and THEN tell me what I'm spending money on that I don't HAVE TO.

    9. Re:Stolen credit cards? by artor3 · · Score: 1

      Millionaire is an old term. To stay with the true spirit of the word, and not it's numerical meaning, it is commonly used today to refer to a person who makes a million dollars a year. Perhaps I should have initially said "people with tens of millions", but sadly we don't have a good word for that. And regardless, if you're basing all your ranting on that one word from my initial post, then you clearly don't have much of an argument.

      But go ahead. Keep white knighting for your masters. Maybe if you lick enough boots, they'll toss a quarter your way ;-)

    10. Re:Stolen credit cards? by Anonymous Coward · · Score: 0

      What I'm suggesting is that if someone's making 10 million bucks a year, they could easily guarantee a luxurious life for themselves and everyone they love on a fraction of that. So they should give up, say, half of it. Give 5 million a year, of their ten, to help other people.

      Good idea. We could formalise it, and have a government department that assesses how much people are earning and take a fixed proportion of it, perhaps with higher proportions for those who earn more. They could then pass this money to a different government department that would have the responsibility for distributing the cash to those who need it the most. We could call these systems "income tax" and "welfare benefits".

      Oh, hold on...

      (In all seriousness: in the US the top bracket of federal income tax is 35%. Most states have somewhere between 5% and 10% income taxes on top of this. An increase to 45% with the extra income being spent on increased welfare, improved free-access medical care, and other similar programs to help the poor would, IMO, be a great idea, bringing US fiscal support for those in poverty from its current 1.4% of GDP into line with the European typical of about 3%.)

    11. Re:Stolen credit cards? by Anonymous Coward · · Score: 0

      "This is the problem with socialistic thinking. Where is the cutoff point?"

      And this is the problem with nerdy binary thinking. "Ooh, if I take this idea and make a strawman out of it then I get this divide by zero error so IT MUST BE FAIL!!!!"

      It doesn't matter exactly where the cutoff point is. But it's somewhere above "completely destroying all rational desire to go to work" and somewhere below "allowing the rich to fuck the poor in the ass".

    12. Re:Stolen credit cards? by shutdown+-p+now · · Score: 1

      His point is that you can reasonably accumulate $1m in savings from wages alone, by working for sufficiently long in a well-paid job (in fact, it can even be some "blue shirt" jobs) - nowhere even close to the income level enjoyed by 1% (that's about $2m/year). Furthermore, many people do just that to make their own retirement fund. So if you take money from everyone with $1m in their bank account, you're most likely taking money they have earned same as you earn yours. There's no meaningful ethical difference between taking a dollar from their pockets and yours - it's earned in the same way, by getting paid for creating added value.

    13. Re:Stolen credit cards? by farble1670 · · Score: 1

      So, given the demographic that most often uses credit, they're going to steal from the poor to give to the poor?

      i don't think credit card ownership is related to wealth ... credit cards are a convenience in most facets of life and required for life online.

      credit card limits and available credit are related to wealth. poor folks will have lower limits and hence less available credit to be stolen. rich folks will have higher limits and higher available credit, all the more to be stolen.

      just saying ...

  14. Oh, this'll be lovely: by Hartree · · Score: 5, Insightful

    Someone needs a lesson in credit card merchant agreements.

    Wait till the charities they give to start getting their transaction fees raised or processing frozen for astoundingly high chargeback and fraudulent transaction rates. I'm sure they'll really enjoy that.

    Big win.

    1. Re:Oh, this'll be lovely: by Valcrus · · Score: 0

      I was wondering if someone would point this out. All the banks will do is chargeback the money. Then the charities will get nothing but trouble and fees for the chargebacks.

    2. Re:Oh, this'll be lovely: by slashmydots · · Score: 2

      That's why they should donate to a political campaign or some hate-magnet charity like PETA. That'd be moderately funny but still pretty stupid actually. Hacking automated business skyscraper room lights to spell something idiotic at night is more their tone. That's why I think this is fake.

  15. What sucks about this idea... by Dr.+Spork · · Score: 5, Interesting

    If they send the money to honest charities like Oxfam, Unicef or Médecins Sans Frontières, they will probably just re-credit the transferred money back to the bank. And if they use some less scrupulous charity, well, that charity shouldn't be getting money in the first place. In any case, there's no real win here.

    What would be really cool, though, is if Visa (to demonstrate their unbreachable security) set out a Hack-for-Oxfam challenge, in which any money that hackers manage to route to Oxfam would be stay with them and be considered a charitable donation from Visa. It would be great free publicity if the hackers failed, and a very good deed would be done if the hackers succeeded - plus, they could patch the exploited security holes.

    1. Re:What sucks about this idea... by Anonymous Coward · · Score: 0

      I came to post this, but you took care of it from every angle.
      smart.

    2. Re:What sucks about this idea... by jmottram08 · · Score: 3, Interesting

      Except that all they need to do is buy credit cards online and use those numbers. Bad bank publicity even if they explain that they weren't technically hacked, the elephant in the room is that it exposes inherent security flaws in the credit card system. There is no way the banks could "win" that challenge.

    3. Re:What sucks about this idea... by gsslay · · Score: 1

      Dumb idea.

      The people always in the front line are the bank's customers. They are the ones that get all the inconvenience and hassle of their money disappearing. They are the ones robbed, no matter how quickly the banks rectify things. For the banks it's just another day in the banking business. It's not like it's their money.

      So how do you think the banks are going to explain to their pissed-off customers that, actually, they asked hackers to steal from them? Never mind, it's for charity?

    4. Re:What sucks about this idea... by Hentes · · Score: 1

      They don't need to hack a bank to get the rquired information. Visa can be perfectly secure, if its customers are not.

  16. Catastrophically stupid by mark-t · · Score: 1

    Robin stole from the rich and gave to the poor.

    Who, exactly, are they proposing to give anything to?

    Bear in mind that knowingly receiving stolen goods is a crime.

    And the fact that they've announced their intent preempts almost any excuse that a person who accepts something from them in the future didn't know it was stolen.... even at best, recipients who get funds electronically without knowing where it came from might just believe it to be a bank error, which account holders are fully responsible for anyways (that is, if a bank makes an error in your favor you cannot freely utilize any extra funds you might appear to have).

    This isn't stealing from the rich to give to the poor. It is ensnaring poor people who don't know any better into doing something that is just going to land them in deeper financial trouble than they are in right now.

    1. Re:Catastrophically stupid by RazorSharp · · Score: 1

      Actually Robin didn't steal from anyone, he was fictitious. The real men that the bard songs based Robin Hood off of stole from the rich and gave to themselves.

      --
      "From the depths of my skeptical and rationalist soul, I ask the Lord to protect me from California touchie-feeliedom."
    2. Re:Catastrophically stupid by Megane · · Score: 1

      Robin stole from the taxers and gave to the taxed.

      FTFY.

      --
      #naabhaprzrag, #sverubfr-000, #agi-fcbafberq, negvpyr[pynff*=' negvpyr-ary-'] { qvfcynl: abar !vzcbegnag; }
    3. Re:Catastrophically stupid by mark-t · · Score: 1

      Being fictitious does not alter the point I was making, above... as I was describing what it is most widely understood that Robin Hood made a practice of doing only as exposition to the real point that I was trying to make.

      And while it might have been more literally correct to have started with "Robin Hood is alleged to..." instead of simply saying that he did, it does not impact what I was ultimately driving at. So at best, you are nitpicking over a choice of words that is wholly irrelevant to my main point. At worst, deliberately misunderstanding to incite an argument so that what I was actually saying is completely obscured.

      But hey... this is slashdot. I probably should have known better than to submit a comment without first checking it against possible pedantry on literal correctness. So I'll take some of the blame too in that regard.

  17. Ready, Fire, Aim by girlintraining · · Score: 3, Interesting
    I've often wondered if a lot of these Anonymous posts are really Department of Homeland Security officials looking to justify their massive overspending for imaginary threats. These are the guys that coordinated sending in 1400 police to round up 50 protesters (and the media had little or nothing to say about the excessive display of force, instead focusing on how much it's costing taxpayers). Given the current climate of committing acts of excessive violence against its own citizens, using military weapons on a peaceful populace, and recent actions about entrapping average people and setting them up to be paper terrorists...

    I think there's ample evidence to conclude that this could very well be an attempt by the DHS or the FBI to create more paper terrorists. You can expect some arrests around the holidays. They're almost stalinist in their punctuality of the trials, whether public or secret.

    --
    #fuckbeta #iamslashdot #dicemustdie
  18. What about chargebacks? by bigonese · · Score: 5, Insightful

    All of the charities will end up paying out big bucks in chargeback fees. It is the merchants that are on the hook for credit card fraud. They'll be forced to return the money and pay a chargeback fee ($30 or more). They will end up doing more damage than any potential (and misguided) good.

    1. Re:What about chargebacks? by Memroid · · Score: 1

      So... they could in theory select a target, 'donate' money to them, and force them to pay chargeback fees. What if they donated money to a single bank? Would the banks start charging each other charge back fees?

  19. I have seen this movie by warp_kez · · Score: 1

    It was called Sneakers.

    But in the end, this sort of activism proves pointless as some govts guarantee the initial investment of bank customers.

    All it would do in the end is destabilise the government and send some countries broke.

    Unless that is the eventual goal.

  20. dumbest. idea. ever by Anonymous Coward · · Score: 0

    So basically, steal money from the working class, give it to the "poor" or "charities", leave us without our savings through the winter season while we wait to get reimbursed from the CC company (those of us who actually read every transaction on our statements every month and catch it), get the feds involved, "poor" and "charities" forced to give the money back...nobody profits and everyone gets pissed.

    I have yet to see anything resembling a reasonable argument that "anonymous" is anything more than a bunch of douches and criminals, in it for nothing but lulz and personal gain (rationalized by appealing to the mass' sense of hope and idealism), attributing their exploits to a faceless collective so as to (hopefully) not to get caught.

    Nobody's blameless: CC companies, "anonymous" hackers, government, businesses, even your average person, but these people are no heroes.

    Perhaps I'm just assuming the worst of everyone, but remember, the cynics are right 9 times out of 10.

    1. Re:dumbest. idea. ever by cshark · · Score: 3, Insightful

      Maybe. If they ever did it. How many Anonymous operations have they announced that simply never happened over the last year? Look, I hate to be the one to say it, but Anonymous has nothing to do with hacking. It has everything to do with PR.

      --

      This signature has Super Cow Powers

  21. While they're at it by GodfatherofSoul · · Score: 3, Funny

    Send the home addresses of stay-at-home wives of bankers to sexual predators getting out of jail. Since obviously 2 wrongs make a right, might as well go all out.

    --
    I swear to God...I swear to God! That is NOT how you treat your human!
    1. Re:While they're at it by Anonymous Coward · · Score: 0

      Indeed, this is a pretty stupid idea. Then again,

      Anon was never about thinking.
      Anon is about aggregated rage actions.
      That's really all there is to it.

      Anon is that part of you that flips out and that beats the crap out of that asshole that fucked you over. He's a pretty cool guy (...eh kills fatcats and doesnt afraid of anything... ;), like Tyler Durden, when you need him. But you wouldn't want to be him all the time, and often you regret it in a way afterwards. But it still felt oh-so-good to truly let it out.

      Anyway, it's still better than sitting on your ass all day long, complaining but doing NOTHING AT ALL, like (very likely) you.

  22. This is why I don't like Occupy by TheSpoom · · Score: 5, Informative

    The point is to help the people at the bottom. You know, the ones who are homeless, living on scraps they fish out of the trash of idiots like you who don't give a damn about anybody but yourself.

    What the fuck are you on about? I pay my taxes and I donate to charity when I feel like it. I assure you I'm far from the 1% the Occupy people are always talking about (otherwise I wouldn't have a one and a half hour commute, both ways, every day).

    This operation is talking about taking money from stolen credit cards and donating it to charity. Let's disect that a bit.

    First, you're stealing people's livelihoods. Credit cards are often attached to bank accounts. You could be bankrupting people, or putting them in a state where they can't pay their bills. I have a problem with that from the get-go. But it gets worse.

    When the fraudulent transaction goes through, the banks will take an interchange fee averaging about 2% of the transaction value straight from the top before the charity even gets it. So the banks are already laughing their asses off at this plan, since what Occupy thinks is going to hurt them is going to GIVE THEM MONEY.

    So when the unfortunate person owning the credit card sees that they've had their money stolen, they're going to try a chargeback. Their bank may refuse this, but especially if it's a credit card, they'll likely get their money back. In the middle of this, the bank will likely take a chargeback fee from the charity since they'd have a hard time taking it from the person who's had their money stolen.

    Now, in this circumstance there are likely to be a large number of chargebacks against the charity, which may further increase their liability:

    Currently both Visa and Mastercard require all merchants to maintain no more than 1% of dollar volume processed to be chargebacks. If the percentage goes above, there are fines starting at $5000 – $25,000 to the merchant's processing bank and ultimately passed on to the merchant.

    All of that money goes to the banks and the credit card companies.

    So what's the final score here?

    Victim: Either has their money back after losing it for potentially several days, or if they're unfortunate, has simply lost their money entirely.
    Charity: Probably doesn't have much extra money after most people chargeback their fraudulent transactions.
    Banks: Got around 2% of every single transaction involved here, more in the cases of chargebacks. Stole money from both the target and the charity without being culpable for any of it.

    I'd say I was shocked that nobody thought of this, but it completely matches with everything else Occupy has done: sitting on their asses, breaking the law when convenient to them, proposing no actual solutions, and splitting their focus in a million different directions without putting any real effort into a single one.

    --
    It's better to vote for what you want and not get it than to vote for what you don't want and get it.
    - E. Debs
    1. Re:This is why I don't like Occupy by nwf · · Score: 2

      Well said. I was thinking the exact same thing. The banks will actually MAKE money of this stupid attempt at activism. I think this proves that smart people aren't smart in every area. This ranks right up there with PETA's recent activities, well, they are actually getting attention and this is so dumb on many levels it leads one to believe anonymous is a 12-year old script-kiddie.

      --
      I don't know, but it works for me.
    2. Re:This is why I don't like Occupy by Anonymous Coward · · Score: 0

      This is a good plan.

      Visa will likely eat the chargeback fees, otherwise as soon as the charity gets a huge chargeback fee and heads to the media a spotlight will be shined on the chargeback system and how Visa/Mastercard profit from it. They will also have the ease and extent of credit card fraud made front page news.

    3. Re:This is why I don't like Occupy by Anonymous Coward · · Score: 0

      The point is to help the people at the bottom. You know, the ones who are homeless, living on scraps they fish out of the trash of idiots like you who don't give a damn about anybody but yourself.

      What the fuck are you on about? I pay my taxes and I donate to charity when I feel like it. I assure you I'm far from the 1% the Occupy people are always talking about (otherwise I wouldn't have a one and a half hour commute, both ways, every day).

      This operation is talking about taking money from stolen credit cards and donating it to charity. Let's disect that a bit.

      First, you're stealing people's livelihoods. Credit cards are often attached to bank accounts. You could be bankrupting people, or putting them in a state where they can't pay their bills. I have a problem with that from the get-go. But it gets worse.

      When the fraudulent transaction goes through, the banks will take an interchange fee averaging about 2% of the transaction value straight from the top before the charity even gets it. So the banks are already laughing their asses off at this plan, since what Occupy thinks is going to hurt them is going to GIVE THEM MONEY.

      So when the unfortunate person owning the credit card sees that they've had their money stolen, they're going to try a chargeback. Their bank may refuse this, but especially if it's a credit card, they'll likely get their money back. In the middle of this, the bank will likely take a chargeback fee from the charity since they'd have a hard time taking it from the person who's had their money stolen.

      Now, in this circumstance there are likely to be a large number of chargebacks against the charity, which may further increase their liability:

      Currently both Visa and Mastercard require all merchants to maintain no more than 1% of dollar volume processed to be chargebacks. If the percentage goes above, there are fines starting at $5000 – $25,000 to the merchant's processing bank and ultimately passed on to the merchant.

      All of that money goes to the banks and the credit card companies.

      So what's the final score here?

      Victim: Either has their money back after losing it for potentially several days, or if they're unfortunate, has simply lost their money entirely.
      Charity: Probably doesn't have much extra money after most people chargeback their fraudulent transactions.
      Banks: Got around 2% of every single transaction involved here, more in the cases of chargebacks. Stole money from both the target and the charity without being culpable for any of it.

      I'd say I was shocked that nobody thought of this, but it completely matches with everything else Occupy has done: sitting on their asses, breaking the law when convenient to them, proposing no actual solutions, and splitting their focus in a million different directions without putting any real effort into a single one.

      FINALLY somebody with a f$*ing Brain!!

      Im sick of the retards posting nonsensical bullshit about "its all a big conspiracy, the rich are trying to kill us" and yet they cant point out who or how its being done, they just come up with grand completely general statements that its, the banks, the rich, the corporations fault.

    4. Re:This is why I don't like Occupy by ohnocitizen · · Score: 4, Insightful

      Your comment is insightful except for the fact this is anon, not occupy. Occupy does have one thing in common with anon: it is leaderless. That's it. So your little zinger at the end about Occupy isn't even on topic. Let's say it WAS on topic: Occupy is the voice of the people in a Plutocracy crying out for a Democracy. As far as what is being accomplished, let's see what they can do. Its a new movement, but so far it is already re-framing a number of key debates.

    5. Re:This is why I don't like Occupy by TheSpoom · · Score: 1

      Sorry, bad attribution. I think I got the idea from TFA (which I did actually read):

      "In regards to the recent demonstrations and protests across the globe, we are going to turn the tables on the banks," according to a YouTube video uploaded on Saturday, which formally announced #OpRobinHood.

      "Operation Robin Hood is going to return the money to those who have been cheated by our system and most importantly to those hurt by our banks," it said. "Operation Robin Hood will take credit cards and donate to the 99% as well as various charities around the globe. The banks will be forced to reimburse the people there (sic) money back."

      So they're (theoretically) by Anon in support of Occupy. In any case, I stand by what I said about them. I agree with many of their goals, I just wish they would actually propose solutions to achieve them.

      --
      It's better to vote for what you want and not get it than to vote for what you don't want and get it.
      - E. Debs
    6. Re:This is why I don't like Occupy by tsa · · Score: 1

      Brilliant. Thank you.

      --

      -- Cheers!

    7. Re:This is why I don't like Occupy by Anonymous Coward · · Score: 0

      While not an occupier myself, it is post like these that demonstrate how little you understand what protesting is for. Going out and waving a sign because you're upset about something isn't about somehow magically all agreeing on some big solution, presenting it to.. well who? and then having it implemented. It's to cause the kind of discussion that were are having *right now*.

      When a part of the population is left out in the cold, there's one thing that is worse than not having a solution for it, and that's not having people talk about it. *That's* what protest are meant to accomplish, it's a giant scream for attention. They get this attention by being obnoxious, confrontational, and so on. People that rant about these occupiers are just sitting on their asses not doing anything don't realize that by just talking about them, you are proving the opposite.

      I think in the history of people protesting about various issues, not a single actual protest itself presented a solution if it wasn't already obvious. It's the talking by other people and politicians after ward that comes up with one.

      To be fair though, I think the Occupy protest will ultimately fail because it has been effectively painted as 'a bunch of jobless, smelly, hippies' that don't actually represent a large part of the population and simply because it failed to snowball into something bigger. The only protests that really succeed in getting a solution in place are the ones that are truly massive, non-partisan, and that make politicians go "oh crap, we better do something about this", in fact with the Occupy protest being so partisan (perhaps not by their own choice, but hardly anyone on the right would probably want to associate themself with Occupiers) makes right-wing politicians do precisely the opposite - ignore and ridicule them, and gain more support from your voters

    8. Re:This is why I don't like Occupy by thejaq · · Score: 1

      Um. You must have missed the part where this isn't affiliated with the Occupy movement. Please continue your misdirected rage.

    9. Re:This is why I don't like Occupy by ohnocitizen · · Score: 1

      No worries. Anon is theoretically in support of a lot of things, though as the comments on this article have shown, they seem to sometimes hurt the causes they love. As far as Occupy, some solutions have been put forth: Investigate the credit/housing crisis and actually prosecute anyone found to have committed crimes, repeal citizens united and impose strict campaign finance laws, institute instant-run-off voting (or something more effective than our current system). That's just off the top of my head, but more good ideas are coming out of Occupy, it isn't entirely comprised of people camping out and engaging in civil disobedience.

    10. Re:This is why I don't like Occupy by Anonymous Coward · · Score: 0

      Occupy? When did they come into this? Your frothing, unthinking failure of thought is showing.

  23. I guess it's safer than tackling the Zetas eh? by frist · · Score: 0

    I guess stealing from regular people is easier than taking on the Zetas, eh Anonymoustards? Someone just needs to go to one of those conventions and just start mowing down any retard with a Fawkes mask on.

  24. The problem with being Anonymous by eagee · · Score: 1

    is that pretty much anyone can pretend to represent you...

    1. Re:The problem with being Anonymous by eagee · · Score: 1

      Specifically, what I'm saying is that it's very easy to discredit a group of people if they lose control of their own narrative. This is just one place where I don't agree with the approach anonymous is taking (if this is even "officially" them). I'm glad someone is standing up to the banks, but the banks have bullying and stealing down to a science already. Ghandi made a far far bigger difference than someone like Robin Hood could have. I mean, RH was a fictional character, no? So, if he stole money from the rich and gave it to the poor I don't see how on earth they would be able to spend it. I mean, this was a time when trial by water was considered a wholly accurate system of justice. I think OWS was pretty effective at changing the narrative of the entire nation, and all of the terrible things that have happened to the protesters is just making that narrative stronger (and the injustice more pronounced). However, whoever is doing this, just looks like they didn't do their homework - which doesn't strike me as legitimate.

  25. Use there credit cards by Anonymous Coward · · Score: 0

    Just switch the credit card numbers out for the numbers of there own personal cards . Then they can make there Christmas donations to the charity or there choosing.

  26. Robin Hood stole from the Government by schwit1 · · Score: 3, Insightful

    Let's see Anonymous try that one. Only politicians are legally permitted to do that.

  27. money talks by Gravis+Zero · · Score: 1

    unlike the former games they have been playing where they take down services which take potential money, they are taking real quantifiable money. when you take real money and assets are lost, law enforcement gets very serious. this is going to be a zillion counts of credit card fraud and damn some people are getting a shitton of years in jail.

    --
    Anons need not reply. Questions end with a question mark.
  28. Well, if they're worried about being caught... by ibsteve2u · · Score: 1

    It should be difficult enough for anybody in a Big Bank to separate out whatever pennies Anonymous diverts to someplace they weren't supposed to go from the real money the Big Banks are routinely found to be diverting - but if Anonymous is still concerned about being caught, just tell 'em to put "U.S. Congress" in the transaction comment block.

    --
    Orwell: "In a Time of Universal Deceit, telling the Truth is a Revolutionary Act"
  29. Incredibly Stupid by koan · · Score: 1

    What else can I say that hasn't already been said, Anon's self delusion has gone completely nuts (nu7z?) the banks will not get screwed they get the money back, charities get teased and the Internet squeeze gets tighter, politicians get more fuel to fuck us with.

    At least have the brains to wait until there is some sort of useful Internet Freedom legislation in place otherwise people like Senator Lieberman or MPAA/RIAA can go on and on about how hackers are the danger and we need more controls and laws and judges that pass laws without really knowing what they are doing (and admitting it).

    Christ it's wrong on so many levels...rip off the banks and hire a decent publicist FFS, you may be great hackers but you suck at strategy.

    This Has Been Another Pinot Noir Blather.

    --
    "If any question why we died, Tell them because our fathers lied."
  30. Rich People Dont Need Credit Cards by Osgeld · · Score: 0

    they have the money to buy shit dumb fucks.

    1. Re:Rich People Dont Need Credit Cards by causality · · Score: 4, Insightful

      they have the money to buy shit dumb fucks.

      If you're using a credit card as a way to get a loan ... you're doing it wrong. That's what the banks would love for you to do but you can also think for yourself and not play their game the way they would like you to (by being impulsive, undisciplined, not having a plan, and yielding easily to temptations of instant gratification).

      As a form of payment credit cards are great -- that means you buy only what you know you can pay off that same month, and unlike cash you enjoy a paper trail and all sorts of fraud protections and the ability to audit and budget and conveniently purchase online. As a loan, credit cards are horrible -- they are designed to give you just enough rope to hang yourself with. That's why when you show responsibility and make all your payments on time, the banks respond by giving you more credit. They are hoping you will finally get in over your head. That's the way they play this game.

      That's why so many of the agreements give the bank the ability to increase your interest when you are late on making a payment, because people struggling to make their payments really need more debt right? It's designed to be a hole that becomes increasingly hard to dig yourself out of. The bank makes more profit that way. If you are so poor that you can barely make ends meet, using credit cards for a loan is only going to make your situation worse.

      Sure, emergencies (rare, unforeseeable events) do happen, but aside from that you need to live within your means. Nothing else is sustainable. The banks really love when you try to live beyond your means. Remember that debt is the only form of slavery that's still legal.

      --
      It is a miracle that curiosity survives formal education. - Einstein
    2. Re:Rich People Dont Need Credit Cards by sourcerror · · Score: 1

      As a form of payment credit cards are great -- that means you buy only what you know you can pay off that same month, and unlike cash you enjoy a paper trail and all sorts of fraud protections and the ability to audit and budget and conveniently purchase online.

      Debit cards can do the same.

    3. Re:Rich People Dont Need Credit Cards by causality · · Score: 1

      As a form of payment credit cards are great -- that means you buy only what you know you can pay off that same month, and unlike cash you enjoy a paper trail and all sorts of fraud protections and the ability to audit and budget and conveniently purchase online.

      Debit cards can do the same.

      Sure, though in the case of fraud it's _your_ money on the line and not the bank's, and there's no ability to quickly get extra money in an emergency when you really need it now, and the fact that it's charged against your checking account (money you actually have right now) means you have a computer system to implement your fiscal discipline for you...

      There's a reason the banks promoted debit cards like crazy. When the bank heavily promotes something, it's not because it serves your interests at their disadvantage. Responsibly used credit is better than debit. Debit is better only if you just can't control yourself and refuse to learn because it limits the damage you can do. It's a simpler game with fewer rules and that appeals to impulsive people who don't like to make budgets and plan ahead; but consequently, there are fewer ways you can take advantage of various rewards and bonuses without financially hanging yourself the way they want you to.

      --
      It is a miracle that curiosity survives formal education. - Einstein
    4. Re:Rich People Dont Need Credit Cards by sourcerror · · Score: 1

      I'm not sure whether the same distinction applies in Europe. I see no reason why debit should be exempt from fraud protection. In my country (Hungary) barely anyone uses credit cards.

  31. Crossing the line! by thatkid_2002 · · Score: 0

    As much as I like their intention, I think this is crossing the line.

    They're clever people - surely they can come up with a campaign that would be more respectful and probably more successful. I'd like to see the power of anonymous used in a clever/funny/positive way. Remember when 4chan thanked a 90 year old war veteran?
    Personally I'd be looking into doing something to communicate the message that "99% can effectively support the 99% by being open, considerate and sharing". Why should they steal from the 1% when they really don't have to?

    This campaign is also pointless on a practical level. They're not stealing gold which can only be in one place at a time they're stealing credit. The banks can just re-credit the rich bastards!

    1. Re:Crossing the line! by Aryden · · Score: 1

      Hack ABC/NBC/CBS/FOX and air 24 hours of people reading REAL NEWS. That would be far better.

  32. Well... by Anonymous Coward · · Score: 0

    So...they will be responsible for a ton of charge backs from illegal charges to thevcharities....thus not helping anyone....sounds like the tards at anon...

  33. Worse than that by Sycraft-fu · · Score: 1

    They'll be not getting the money and dealing with banks and payment processors. In some cases they may deal with angry individuals who don't watch what happens. However more than likely these things will get noticed fairly fast, since it is easy to see what your CC is doing online, and the banks will be informed, and they'll stop payment. So the charity will think they are getting money, then not get it.

    Then of course because of the level of fraudulent transactions, flags will go up on them as a merchant, so it'll get to the point where if someone makes a donation of any sizable amount, it'll generate a call immediately from the bank to verify. If that keeps up, the payment processors may get angry and shut down the account.

    This kind of shit will work not at all. Having had my CC information stolen a couple times I can say that while it is a little inconvenient, it is nothing more. Call the bank, they stop the charges, fill out a little form on things and that it that. A new card shows up in the mail in about 3 days.

    It's also not like you could give the charities all that much from a single source. Never mind CC limits, even if you find a really high limit CC, do too high a transaction to a place that doesn't usually get it and that'll have it stopped right there and then.

    This plan has so much fail written all over it.

  34. Hoax, not going to happen. by ron-l-j · · Score: 0

    The idea is absurd. It's to risky that innocent people will be hurt. ANON should just go to the banks and collect the donations for the poor. or maybe travel to some poor countries to help the needy.

  35. Pissing into an ocean of piss by mykos · · Score: 1

    First, there is the question of whether or not this is even real and not a "TERRISTS COMIN' TA STEAL YER FREEDOMS" event.

    Second, there are much better funded and staffed operations that steal credit card information en masse. Even if this group (assuming it actually exists) snags a couple, it will be a drop in the bucket compared to what organized crime pulls off every day. People who work in fraud prevention won't even feel a speed bump.

  36. Banks and Credit cards by mbkennel · · Score: 5, Insightful

    a) In the USA credit card issuers (issuing bank, not the interchange network) are liable for fraudulent transactions, losing 100% of the amount (as the customer will not pay, usually) is a loss to the bank even if they win 2-3% interchange.

    b) They will chargeback to charities many of the fraudulent transactions which occur card-not-present (i.e. internet payments), so the charities won't get much or any of it. I don't know if there are any additional fees which may actually hurt the charity.

    c) if a particular merchant, like a charity, seems to attract a significant amount of fraud, the issuing banks may start to notice it and block payments from all cardholders, hurting the charity's normal fundraising.

    d) if a particular merchant, like a charity, seems to attract a significant amount of fraud, then that charity's bank (acquirer) is likely to drop its credit-card processing agreement, disrupting the charity's normal fundraising. There may even be some penalties if they do not have a sufficiently up-to-date website and on-line fraud detection software/procedures.

    I work professionally in some aspect of credit card software (at a tech company and not a bank).

    In sum, this proposed action is likely to create some extra work for bank employees, though it will probably not cause financially significant losses as many online transactions (not processing with "Secured by Visa" or MC's similar procedure) can be charged back. Charities are unlikely to benefit. They may be harmed.

    1. Re:Banks and Credit cards by Jah-Wren+Ryel · · Score: 1

      Thanks dude. There has been a stunning amount of ignorance regarding the operation of credit card charges posted in response to this story. If you hadn't written that I would have tried to come up with my own version.

      I just wanted to point out one further item - if anon is stealing credit card information, that means a whole host of bad guys have probably already got their hands on it. If anon weren't exploiting that info, someone else would sooner or later anyway.

      --
      When information is power, privacy is freedom.
    2. Re:Banks and Credit cards by gl4ss · · Score: 1

      yep, the way for the charities to keep the money would be to turn it into real cash before donating. but that creates a risk equal to running a black hat criminal stealing operation, I doubt many anons would actually do that.

      oh and it's simple to turn stolen credit cards to receivable cash(either goods or money). even simpler if you live in russia and have identities or persons willing to sell their identities for that use.

      --
      world was created 5 seconds before this post as it is.
  37. Lame by Anonymous Coward · · Score: 0

    Anonymous go away. No one wants you around. If you are so eager to give to charity, set an example by doing it yourself. The disparity between how cool you think you are and how stupid you actually are is amazing. Oh, and think something through once in a while. Don't just imagine headlines and use that to decide what to do next.

  38. FDIC Insurance by ZeroSerenity · · Score: 1

    I have the feeling if this actually goes off the FDICI is going to be on the hook for most of it.

    --
    For those who seek perfection there can be no rest on this side of the grave.
  39. doesn't make sense by slashmydots · · Score: 0

    I'm fairly certain that eventually the entire transaction is reversed then, which just is an expensive headache for whatever charity got the false donation. If this was for real, they'd contribute to a political campaign for someone they don't like. Then again, they don't seem very wise.

  40. Well said, but... by msobkow · · Score: 2

    Isn't it Anonymous that came up with this ludicrous scheme? Anonymous does not control, own, rule, drive, steer, or otherwise control Occupy. The only thing they have in common is the use of the Guy Fawkes masks.

    --
    I do not fail; I succeed at finding out what does not work.
  41. why not good old vandalism? by Wandering+Voice · · Score: 1, Interesting

    I have to agree with the commenter who said this sounds more like a DHS propaganda effort than anything. If Anonymous really wants to hurt banks, why not just use simple acts of vandalism. I would think that vandalizing branch locations across the country would have a bit more of a financial impact against the banks. How much money would a bank lose if its branch offices were closed up for a day or three? If ATM machine screens were smashed so they are unusable. What if it happened to five branch locations across the city?

    1. Re:why not good old vandalism? by Anonymous Coward · · Score: 2, Funny

      That's no fun. I prefer the more subtle approach. There is a little sign at BOA here that points to "customer parking". I've been thinking of this: Measure the letters carefully, duplicate the font, pay a visit at night and change it to "victim parking".

    2. Re:why not good old vandalism? by Aryden · · Score: 2

      It would get them caught on camera and possibly lead to convictions. If they were to do this, the need to fuck with the banks that lend other banks money and don't deal with the general public.

  42. They would be better off... by Aryden · · Score: 0

    Just hacking in and deleting mortgage and other electronic assets. Modifying accounts balances, shifting money from corporate accounts to private accounts etc. Alas, in the end, all this will do is piss off the banks and lawmakers enough to pass some retarded bills that require us as individuals to make up the "loss" and then some.

  43. Occupy is going to get republicans elected ... by drnb · · Score: 5, Insightful

    Ever heard of the civil rights movement? They cause change without ousting politicians or using force. It's called civil disobedience, and it's proved effective time and time again.

    You have it exactly backwards. The civil rights movement succeeded when *voters* decided it would be an electoral issue. The viet nam war ended when *voters* decided it would be an electoral issue, and that decision was made when their lives were affected (increased casualties hitting the middle class) not because of radical anti-war protesters. The true currency of politics are votes not money, money is only useful when the voters are indifferent.

    By making ourselves heard (me included) Occupy is waking people up from their fantasy land where government and corporations aren't screwing us.

    All Occupy is on a path to do is create a perception of civil unrest and scare the swing voters into going republican, just like the radical anti-war protesters did during the viet nam war resulting in getting nixon elected. Occupy needs to realize that "camping" is going to backfire. Show up, protest, yell and shout, day or night, but when you tire go home or get a room ... repeat as necessary. The more the focus is on "camping" the more the middle will feel that Occupy does not represent them. Polls are showing that this is already happening. In the minds of many Occupy is looking more and more like the "professional protesters" that show up at G20, World Bank, and other meetings. Continue on this path if you wish to waste a great opportunity.

    1. Re:Occupy is going to get republicans elected ... by jimshatt · · Score: 3, Insightful

      The true currency of politics are votes not money, money is only useful when the voters are indifferent.

      But isn't that just the problem? Voters *are* indifferent, because the choices they have are _all_ bad. Or they are naive and ignorant and hoping the republican they vote for will make them less poor. Or democrat for that matter.

      You see, the problem is bigger than just politics. It's society itself that needs to change. Voting for 'the right' president or governor or what have you might help a bit, but it's not enough.

    2. Re:Occupy is going to get republicans elected ... by Viol8 · · Score: 2, Insightful

      If society doesn't want to change who are you to tell it it should? Society is people , not mindless robots.

    3. Re:Occupy is going to get republicans elected ... by HBI · · Score: 1

      Of course, Occupy doesn't represent the middle class at all. The fact that their interests seemed momentarily congruent with the mass of the electorate was the strange thing. That seems to be over at this point. People made decisions about them during the couple of months they were in the spotlight. The belief amongst the organizers that the protests can resurrect themselves and have similar impact is laughable. As in most things, you get one chance with people and then they tune you out.

      --
      HBI's Law: Frequency of calling others Nazis is directly correlated with the likelihood of the accuser being Communist.
    4. Re:Occupy is going to get republicans elected ... by boethius78 · · Score: 1

      The choices are not all bad. What people seem to get confused about is thinking that if they don't stand a chance of getting their favoured candidate elected, there's no point in voting. I only know about the UK, but there are more political parties than Conservative and Labour here; if other parties start getting an increased share of the vote, the big parties sit up and take notice and policies change in order to try to attract the disaffected back into the fold. If the headless entity that is Occupy wants to make a real difference, next election there ought to be Occupy candidates standing in every seat. Then we can find out whether they really represent the 99%.

    5. Re:Occupy is going to get republicans elected ... by Hatta · · Score: 2

      There is not a perception of civil unrest, there is actual civil unrest. So what if swing voters get scared? They weren't going to vote for change anyway. Voting Obama is no better for the 99% than voting Republican is.

      And yes, the occupy protesters look like the people who show up at G20, World Bank, etc meetings because they are the same people, and they've been right all along. The people on the streets on NYC, Seattle, Toronto are now, and have always been better people doing better things than the suits in the board rooms. That is the truly dangerous element.

      --
      Give me Classic Slashdot or give me death!
    6. Re:Occupy is going to get republicans elected ... by jimshatt · · Score: 1
      I wrote a really good reply and then accidentally closed my browser. grr..
      Anyway, I think you're right. And I wasn't really trying to say *we* should try to change society, just that trying to change it by using politics may be less useful than we think. Society just isn't very malleable in my opinion.

      But then, if I would be trying to change society:

      If society doesn't want to change who are you to tell it it should?

      well... part of society, so that's my prerogative, don't you think?

    7. Re:Occupy is going to get republicans elected ... by Glarimore · · Score: 2

      If society doesn't want to change who are you to tell it it should? Society is people , not mindless robots.

      You're suggesting that people shouldn't state their opinion.

      If everyone thought that their opinion should be kept to themselves because they are just one person and not the mass, nothing would ever change. Someone has to stand up and say, "I think this is wrong," or people would continue to think that they are alone in what they believe. Protesting has the goal of changing opinions and mobilizing bodies -- and it does both of these.

    8. Re:Occupy is going to get republicans elected ... by jimshatt · · Score: 1

      I don't think it's impossible to get your candidate of choice elected. I just think it's neigh impossible for any electorate to bring about the changes 'Occupy' wants. The political systems that are quite apt at changing stuff are not what we really want (despotism and the likes).

      I do agree, though, that in the UK and many European countries, the system is much better. When every political party at least stands a change of getting some seats in the government, that makes the bigger parties work harder on actual issues instead of just trying to raise more money.

    9. Re:Occupy is going to get republicans elected ... by shoehornjob · · Score: 1

      The Republican Party as it stands right now has a limited chance of defeating Obama next year. Romney and Gingrich will split the party vote even though only one will get the party nod. Both of them have enough money and support to continue on even if they don't get the nomination. Obama just needs to keep his foot out of his mouth and keep doing what he is doing.

      --
      "We are just a war away from Amerikastan. When god vs god the undoing of man." Dave Mustaine
    10. Re:Occupy is going to get republicans elected ... by Anonymous Coward · · Score: 1

      ...just like the radical anti-war protesters did during the viet nam war resulting in getting nixon elected.

      Not so much: In the 1968 Presidential campaign, Richard Nixon stated that "new leadership will end the war" in Vietnam.

      I love how people try to rewrite history to suit their own purposes.

    11. Re:Occupy is going to get republicans elected ... by mcgrew · · Score: 2

      Where do you get this bullshit from? Do you make it up yourself, or let Rush make it up for you? Occupy IS the middle class, as well as the former middle class who are now poor.

      That seems to be over at this point.

      WTF? Yesterday 300 protesters were arrested in Los Angeles. Right now Occupy is hiking from Wall Street to the King Memorial in Washington DC to Georgia, following the Civil Rights Movement march. They're somewhere between DC and Georgia now. Both items were on the TV news this morning. To quote Twain, "reports of my death are greatly exagerated."

      You might want to read an actual newspaper once in a while and stop listening to some damned AM radio drug junkie. Speqaking of which, you might want to lay off the cocaine, Mister Banker.

    12. Re:Occupy is going to get republicans elected ... by gtall · · Score: 1

      Okay, I give up, what is Obama doing? Anything? Even ObamaCare (I actually do not like that term) was really just a Christmas tree for Congress's Democrats to decorate as they saw fit. Obama had a perfectly valid debt reduction plan handed to him in Simpson-Bowles. Hell, he even created the commission. And what did he do with the plan? He ignored it, submitted a budget that made no fiscal sense, and is now wandering the country side like some lost Jacob Marley jangling his chains in search of the Ghost of 2008.

    13. Re:Occupy is going to get republicans elected ... by gtall · · Score: 1

      Wow, 300 you say! Boy, that will get them noticed. You mean they are lost somewhere between DC and Georgia. They never spoke for the 99%, that was simply propaganda so people like you can feel all warm and fuzzy about them.

    14. Re:Occupy is going to get republicans elected ... by FrozenFOXX · · Score: 1

      If society doesn't want to change who are you to tell it it should? Society is people , not mindless robots.

      Not to sound like a tool but there's a difference? People en masse seem to gravitate towards a "hive mind" that most easily resonates with their pre-existing beliefs. They only break from it for a significant period of time if what they're being told VASTLY and JARRINGLY goes against what they already believe.

      We build entire networks of systems this way using configuration management tools and they behave the exact same way. All the dumb machines spin up an agent (like puppet or CFengine), ask the master what they're supposed to be doing, the master tells them, and they pull themselves back into alignment with the master plan.

      At least from where I'm standing society *is* a bunch of mindless robots that already have a configuration management agent installed called, "the media." The only way to steer the configuration of it is to be an administrator, and in this case the only administrators are the lobby groups with shedloads of cash, able to tell society what it's supposed to be doing.


      But I don't know, I could be wrong.

      --
      "Just a fox, a whisper."
    15. Re:Occupy is going to get republicans elected ... by ksd1337 · · Score: 1

      Society is people , not mindless robots.

      And if it was mindfull robots, that means the machines have won and we wouldn't be discussing this right now.

    16. Re:Occupy is going to get republicans elected ... by Shotgun · · Score: 1

      When your opinion is that "We are trying to come to a consensus on that" after two months of protests, with nothing to show for it except a protocol composed of wiggling fingers? Yeah, you should probably keep them to yourself.

      --
      Aah, change is good. -- Rafiki
      Yeah, but it ain't easy. -- Simba
    17. Re:Occupy is going to get republicans elected ... by sjames · · Score: 1

      I don't know about the OP, but *I* am a member of that society with a right to one voice in that society. That's who I am to tell society it must change. If enough others come to agree with me, it changes.

    18. Re:Occupy is going to get republicans elected ... by drnb · · Score: 1

      ...just like the radical anti-war protesters did during the viet nam war resulting in getting nixon elected.

      Not so much: In the 1968 Presidential campaign, Richard Nixon stated that "new leadership will end the war" in Vietnam.

      I love how people try to rewrite history to suit their own purposes.

      What are you talking about? No one's discussing campaign promises.

      What is being discussed is that the anti-war protests put Nixon into office by undermining the democrats. Civil unrest scared the middle class / swing voters to go with the "law and order" candidate.
      "However, the tragedy of the antiwar riots crippled Humphrey's campaign from the start, and it never fully recovered."
      "Nixon ran on a campaign that promised to restore law and order to the nation's cities, torn by riots and crime. The election of 1968 was a realigning election that permanently disrupted the New Deal Coalition that had dominated presidential politics for 36 years."
      http://en.wikipedia.org/wiki/United_States_presidential_election,_1968

  44. This will only hurt the charities... by blanks · · Score: 3, Interesting

    I've stood behind many of the things Anonymous has done in the past but this just seems stupid.

    The only thing this will do is cost charities millions in audits, time, etc and make many lose services they use to collect donations. You know what will happen if a charity receives illicit funds through paypal? Their bank account gets frozen and paypal will in most cases never allow them to use their service again.

    If they want to be dicks they should use these attacks through online services that the music/movie industries run / make money from, or big evil online retails like walmart and bestbuy or make payments to other banks customers mortgages / dept.

  45. Charity will lose due to higher processing fees by drnb · · Score: 4, Insightful

    The owners of the card won't be liable for the charges dumbass.

    While the owner of the card may not be liable, the charity may still have to pay the fee for payment processing on the fraudulent charges. At a minimum the charity will be put on a higher fee schedule due to an elevated number of fraudulent credit card charges, so they will lose on all legitimate donations in the future.

  46. Kevin Costner? by Mike610544 · · Score: 2

    They should have used Errol Flynn, or even Russell Crowe. Hell, Cary Elwes was a better Robin Hood than Costner.

    Prince of Thieves has to be the only Robin Hood story where you're kind of rooting for the sheriff of Notingham.

    --
    ... also, I can kill you with my brain.
  47. In the US? by SmallFurryCreature · · Score: 0

    You are talking about the army with worsed human rights record in history. Or does the eradication of the native Americans, also known as Indians, not count? What about the millions of civilians slaughtered by the US armed forces during the Vietnam conflict? Mass bombing of civilian targets and use of chemical weapons?

    The US army unwilling to kill civilians? Pull the other one, it got bells on.

    --

    MMO Quests are like orgasms:

    You may solo them, I prefer them in a group.

    1. Re:In the US? by HopefulIntern · · Score: 1

      Don't forget Hiroshima and Nagasaki. Arguably the worst war crime in history. And nobody was held accountable.

    2. Re:In the US? by Anonymous Coward · · Score: 0

      Don't forget Hiroshima and Nagasaki. Arguably the worst war crime in history. And nobody was held accountable.

      Idiocy. Go learn some history.

      The estimated casualties for the proposed Operation Downfall--the Allied invasion of the Japanese home islands--were over a million for the Allies and at least twice that for the Japanese, with one estimate putting the Japanese number in the 5-10 million range. It was going to be infantry street fighting from one end of the home islands to the other against a "fanatically hostile population," probably going on for years. The technology of the day didn't allow for bombers, battleships, and artillery to discriminate between military and civilian targets with any real precision like we can now. And the only realistic alternative was a massive blockade that would have created a humanitarian crisis, leaving millions of Japanese civilians starving to death.

      http://en.wikipedia.org/wiki/Operation_Downfall#Estimated_casualties

      So dropping atomic bombs Hiroshima and Nagasaki weren't war crimes--they were the most merciful option for ending World War 2. Truman's decision probably saved more people than were killed by the bombs by at least an order of magnitude. Facing those casualty estimates, the technology of the day, the prospect of several more years of war, and the fact that WW2 had already gone on for four years and killed millions of people, any rational leader would have made the same decision. I hope Truman slept like a baby after he made the call.

    3. Re:In the US? by vijayiyer · · Score: 1

      Hiroshima and Nagasaki saved more lives than any other event in the history of war.

    4. Re:In the US? by CrimsonAvenger · · Score: 1

      Don't forget Hiroshima and Nagasaki. Arguably the worst war crime in history. And nobody was held accountable.

      Only by ignorant people.

      Educated people consider Dresden and Tokyo to be much worse than Hiroshima & Nagasaki. Especially given that the firebombings of Tokyo killed more people than Hiroshima and Nagasaki combined.

      Then there's the whole Concentration Camps thing, that killed about 20 times as many people as Hiroshima and Nagasaki combined.

      The Great Leap Forward, similar death toll to the Camps.

      The Ukraine Famine that Stalin engineered, similar death toll to the Camps.

      Face it, considering the atom-bombings to be the worst war crimes in history merely shows your lack of knowledge of history....

      --

      "I do not agree with what you say, but I will defend to the death your right to say it"
    5. Re:In the US? by mcgrew · · Score: 1

      Worse than the Germans bombing Britain? I think not. And it ended the war, saving far more people than died in those two cities. Worse than mustard gas in WWI? Hardly.

    6. Re:In the US? by cavreader · · Score: 1

      Please work on your reading comprehension. Native Americans? It is 2011 not 1620 which is when the first Europeans got to the US and immediately started fighting and scamming the natives. The real fighting targeting the natives was committed by Europeans such as England, Spain, and France. The Spanish wiped out entire cultures in South America during their colonization period. I am not saying the US did not kill any natives but trying to use those attacks in today's world is ridiculous. If you want to start hop scotching back thru time there is not a single country or tribe who does not have blood on their hands. Every country or territory border on the planet was drawn and re-drawn in blood.
      "civilians slaughtered by the US armed forces during the Vietnam conflict" My post was about the military killing it's OWN civilians to maintain control. And sure the US has killed civilians during combat but that tends to happen when you are fighting people who launch their attacks hiding behind their woman and children. It happens when they use schools, hospitals, and religious locations to store their munitions and artillery launch sites. And why is it that intelligent people such as yourself never complain about anyone except the US when civilians are killed in combat? Turkey makes weekly air raids into northern Iraq to pound the PKK and Kurds and the breakdown of military versus civilian casualties is never mentioned. Does Turkey have a civilian avoiding smart bomb? People blame millions of deaths in IRAQ on the US but never mention that it was Saddam Hussein who confiscated the international aid after the first Iraq war which caused their citizens to suffer? Why do you never hear anyone decrying the brutality of the Taliban and the other self declared terrorists organizations that do not even make the slightest pretense of targeting only military targets? Why do people never acknowledge that in Iraq and Afghanistan that their own militarises and "freedom fighters" have killed more civilians than the US by a wide margin? Well none of this matters since my post was about domestic conflicts not international conflicts.

    7. Re:In the US? by cavreader · · Score: 1

      Also everyone fixates on Germany's atrocities and death camps but they were pikers compared to the USSR. The USSR didn't even try to target any specific ethnic or religious group. They were equal opportunity killers. Stalin ended up having to scour his gulags to free all the scientists he put there before they started fighting the Germans. One of the most well known prisoners was the architect of Russia's main line battle tank. The USSR took about 2.5 million German POWs and only around 10% of them ever returned after the war and it took many years after the war ended for even these people to return. No wonder the surrendering Germans couldn't run fast enough towards the western allies to surrender.

    8. Re:In the US? by HopefulIntern · · Score: 1

      Yes worse than Germans bombing Britain. Ignoring for a moment the immediate death toll of both, the long term result of nuclear bombing is far more grim and cruel than normal HE. Nobody suffered radiation sickness, cancer etc. from bombing Britain. Instead of just death toll, consider the actual suffering of all those affected.

      As far as the mustard gas, OK that was also highly cruel, but it was in the trenches, soldiers on soldiers. Not nuking the fuck out of unsuspecting civilians.

    9. Re:In the US? by HopefulIntern · · Score: 1

      Fair enough, but what you list are atrocities committed under regimes that no longer exist, so even if the right people were not prosecuted for their crimes, at least they are not still in power, parading around, unlike the US of A, which is exempt of any crime at all.

  48. This will harm everyone but the banks by Anonymous Coward · · Score: 0

    This is stupid.

    This is what happens when you create a fraudulent transaction:
    1. You buy/pay for X with Y card
    2. Y card is canceled and the transactions rolled back
    3. Whoever you bought X from is now out both X and has to pay a fee to the bank for accepting fraudulent charges, what's known as a chargeback.

    So if you do this a few hundred times to a charity, you're just going to make the charity refuse credit card payments, which hurts them.

    The banks don't get harmed in the least. This does nothing.

    Anonymous morons.

  49. No debt no money by triclipse · · Score: 1
    "That is what our money system is. If there were no debts in our money system, there wouldn't be any money."

    Marriner S. Eccles, Chairman and Governor of the Federal Reserve Board

    http://en.wikipedia.org/wiki/Marriner_Stoddard_Eccles

    http://minneapolisfed.org/pubs/region/99-06/martin.cfm

    --
    No Inflation Taxation without Representation
  50. nothing robin hood about that by SuperDre · · Score: 0

    This has nothing to do with Robin Hood at all, they're using stolen credit card data so it also affects CC companies and the owners of the CC. Also this will hit the common people too, as banks loose money and need to compensate for it, which means lowering intrest, raising prices. If it's known the donation was done using a stolen CC the charity has to give the money back anyway, so there is no win situation as that'll costs a lot time too.. Anonymous aren't the smartest people, yes they seem to know a lot about how to hack stuff, but when it comes to anything else they seem to be as dumb as a pig's ass..

  51. Yes it's real by Anonymous Coward · · Score: 0

    This Operation is real: it's been in progress for months now. Writer of this article needs to do a little research and /. needs to really examine what they put on frontpage. Get with it, /.

    1. Re:Yes it's real by Ash-Fox · · Score: 1

      /. needs to really examine what they put on frontpage

      You must be new here.

      --
      Change is certain; progress is not obligatory.
  52. Good? Bad? Unavoidable. by Bob9113 · · Score: 1

    There's lots of arguing going on about whether this is good or bad. All very interesting, I'm sure.

    Here's the thing though; whether we think it is good or bad is irrelevant. Completely irrelevant. This is inevitable.

    We are approaching a state of effective global government, through synchronicity of corrupting forces. All the major governments are toppling to corruption in roughly the same way; fear of dissidents, desire to quash "harmful" speech, global lobbying entities, fear of the Internet, using fear of child porn to manipulate public opinion, megacorps abusing fear of economic instability, etc. They are all falling over the same way, and they're all reading each others play books and imitating each others steps, incapable of recognizing the downward treadmill they are all running on.

    As with every sudden spurt in the growth of top-down authority, there is a concomitant concentration of power (wealth, influence, information, etc). Those who are winning at the concentration game are those who are most willing to sacrifice everything for a little more power. Their fundamental nature is that they will continue to sacrifice everything for a little more. And they will continue to gain more. It is becoming self catalyzing. Once that iterative selection mechanism gets rolling, it does not stop quietly.

    Look back through world history and ask yourself this question: What happens when power concentration becomes self-catalyzing? What happens every single time that happens? What happened in Rome? The United States? France? Russia? China? Egypt? Yemen? Tunisia? Libya? Those are just off the top of my head. What has happened every single time power concentration has become self-catalyzing?

    This particular incident may be real, or not. It may be part of what brings about change, or not. In the long run it may be net positive, or not. What is not in question is this: This sort of thing is going to happen. It cannot be avoided, unless we find a way to stop the cycle without the upheaval.

    And do you think that is going to happen? Do you think the machines in power can be smoothly depowered, or will choose to relinquish their self-fueling avarice? Do you have any doubt that they are rapidly becoming self-fueling organisms? Have you ever tried to talk to a cancerous polyp, and explain that it should not consume everything it can?

    The question is not whether bands of renegades will commit acts of poorly aimed hostility against poorly selected targets. The question is how we can best navigate our society through this period where we are incubating that sort of dangerous antigen to combat these cancerous concentration machines. How we can get back to a place where the cancer of anti-social avarice is no longer doing more harm than the chemotherapy of civil unrest.

    1. Re:Good? Bad? Unavoidable. by DaveV1.0 · · Score: 1

      Unavoidable? I am sure that if Anonymous steals from the wrong people, said people will infiltrate Anonymous and start killing them off one by one.

      --
      There is no "-1 offended" or "-1 you don't agree with me" mod options for a reason.
  53. Never taking loans is impractical by sociocapitalist · · Score: 1

    I agree with you for the most part but at least for most people it is not practical to save up the money to buy a house for cash.

    Even if you can do so it doesn't mean that it makes the best financial sense to do so:
    1) The money that you're paying in rent is enriching the landlord and not going towards your own capital investment
    2) You're losing the capital gains of buying your own property (temporary financial crisis excepted real property goes up in value over time)
    3) The money that you're keeping in the bank or under the mattress doing nothing is losing value over time due to inflation

    --
    blindly antisocialist = antisocial
    1. Re:Never taking loans is impractical by ZeroSumHappiness · · Score: 1

      1. Houses aren't actually that much of a money-maker if you actually consider all of the additional taxes, upkeep costs and market volatility. Their main benefit is freedom to modify and protection from eviction. 2. He said unsecured. Houses are not unsecured. 3. The debt you're accruing interest on accrues faster than inflation stacks up, gaining more negative value.

    2. Re:Never taking loans is impractical by sociocapitalist · · Score: 1

      1. Houses aren't actually that much of a money-maker if you actually consider all of the additional taxes, upkeep costs and market volatility. Their main benefit is freedom to modify and protection from eviction.
      2. He said unsecured. Houses are not unsecured.
      3. The debt you're accruing interest on accrues faster than inflation stacks up, gaining more negative value.

      1) I'll accept what you're saying if you give me some concrete examples to work with and not just opinions. My experience has been that buying is better than renting.

      Here is a good tool for evaluating a buy vs. rent situation: http://www.nytimes.com/interactive/business/buy-rent-calculator.html

      2) The post that I was replying to didn't say unsecured. You're referring to a different post earlier in this branch of posts.

      3) You're looking only at interest vs. inflation and you have to look at the entire equation.

      At the end of the day what it comes down to is that if you are paying rent you don't have anything to show for it over time whereas the money that I am paying for debt+interest is decreasing the debt+interest over time which, when coupled with property values increasing over time (again as I said in my post with the exceptions of temporary downturns due to market fluctuations), gives me an increased net worth over time.

      --
      blindly antisocialist = antisocial
    3. Re:Never taking loans is impractical by Aryden · · Score: 1

      Your point is valid, but only to the extent that you assume property values are always increasing with only slight short downturns in the market. Right now, that's just not a truth. Many people I personally know, are completely upside down on their homes. My mother has lost $70,000 of the value of her house since 2009. A friend of mine has lost nearly $100,000 on his house. This is a huge problem here in Atlanta and people are walking away from their mortgages and going off to rent apartments and rental houses because in the long run, it's going to be better off for them. Especially with so many apartment rental companies offering equity accrued monthly as a base % of your lease.

    4. Re:Never taking loans is impractical by JimFive · · Score: 1
      Just a quibble. This statement:

      (temporary financial crisis excepted real property goes up in value over time)

      isn't quite true. Real property only goes up in value if the population(demand) is growing. In the ideal situation property price would match inflation because the real value of an acre of land doesn't change. Other property, e.g. housing, should depreciate slowly but this is covered by ongoing maintenance costs keeping the house basically at a constant real value. Property that obsolesces such as a car will depreciate faster and cannot really keep its value until it hits the bottom of the depreciation curve.
      --
      JimFive

      --
      Please stop using the word theory when you mean hypothesis.
    5. Re:Never taking loans is impractical by sociocapitalist · · Score: 1

      Hi JimFive - I agree with you for the most part but I believe there is still somewhat of a relative gain over time even when adjusting for inflation:

      http://www.jparsons.net/housingbubble/

      Agreed that it's linked to demand and then it gets highly geographical. Overall though the population is increasing...

      --
      blindly antisocialist = antisocial
    6. Re:Never taking loans is impractical by sociocapitalist · · Score: 1

      The key words in your statement are "right now"

      If you look at values over time you have an increase over time even taking the bubble into account:
      http://www.jparsons.net/housingbubble/

      Did your mother and your friend buy during the bubble or did they buy before the bubble and thus haven't actually lost value vs. the original purchase?

      I don't blame anyone who bought and lost regardless. I blame the politicians who killed the Glass-Steagall Act and the banks that made and then sold loans that should never have happened, inflating and then crashing the entire market.

      The equity accrual might be interesting - no idea how that would compare against a loan from a bank. The developers appear to take the risk or property values decreasing instead of the renters taking the risk but what happens to the accrued equity if the developer goes out of business?

      --
      blindly antisocialist = antisocial
    7. Re:Never taking loans is impractical by Aryden · · Score: 1

      They both purchased before the bubble, and the amount lost is based on the original purchase price of the house, so yes it is really a loss.

      The property management company is basically giving you equity towards the purchase of a house from them and only them. When the bubble popped, they still offered the equity but the amount of houses decreased and the approval process became very stringent

  54. They are all talk by DarkOx · · Score: 1

    Three letter agancies grabbed all the capable folks 6 months ago. What is left is script kiddies. Remember how they vowed to destroy Facebook? Someone should remind them the 5th of November was weeks ago.

    --
    Repeal the 17th Amendment TODAY! Also Please Read http://www.gnu.org/philosophy/right-to-read.html
  55. Dream on by Viol8 · · Score: 1

    People arn't going to close down their accounts because of a bunch of deluded self righteous script kiddies on a power trip.

  56. Interest is rent, and rent is theft by Pfhorrest · · Score: 1

    This, precisely, is why a home loan is the only kind of debt (excluding a credit card paid off in full every month to build a credit rating) I ever intend to take out.

    The problem to be avoided is not so much debt per se, but the interest that inevitably comes with it. And not even just interest, but more what interest is a special case of: rent. Interest is rent on money. So if your options are to pay rent on a home for a period of time while you save up to buy a home, or to pay rent on money with which to buy a home now and then pay back the money over that same period of time, the question is simply which has the higher rent, the home or the money. And even in this lousy market, interest on a home loan is lower than the insane raw profits extracted by landlords renting out property.

    Rent is where you pay someone a permanent fee for the temporary use of something and so, when the transaction is over, they have what they rented you back again and you are out that money. This is how wealth accumulates in the hands of the already-wealthy! They have what we need (homes, cash, whatever), and they can hang on to it and "let" us use it for a fee, which then gives them further assets to rent out and further their illegitimate income. If they did not have this option, if rental contracts were not upheld by the law, then those assets beyond which they could personally use would become worthless to them except as things to sell; and they'll only be able to sell them if they offered terms which other people, people who don't already have such things and are in the market for them, could afford.

    Simply invalidating rent (having the government refrain from doing something) would "force", by free market forces alone, a voluntary redistribution of excess (unused) wealth from the 'haves' to the 'have-nots' on reasonable terms, by making such sales the option which is most in the 'haves' self-interest (either that or let their useless assets rot), after eliminating the illegitimate option of charging for something and then getting to keep it afterwards. This is the kind of solution people need to be looking for, addressing the systematic problems which cause wealth disparities to grow, not looking to patch the system and simply cover up the symptoms of it!

    --
    -Forrest Cameranesi, Geek of all Trades
    "I am Sam. Sam I am. I do not like trolls, flames, or spam."
    1. Re:Interest is rent, and rent is theft by thejaq · · Score: 1

      I like this idea, but I don't see a mechanism for the redistribution of cash or intangible assets (e.g. brand equity). How financing can work without some kind of rent seeking and/or compensated middleman. I also find it difficult to imagine how a lot of the service industry might work.

    2. Re:Interest is rent, and rent is theft by Anonymous Coward · · Score: 0

      With rent, what you're actually paying for is resource-time. Webhosting is rent (server time & resources).

      There are plenty of legitimate reasons to rent something to someone. Some of the cost is for the maintenance, warehousing, servicing, and business overhead. (Some renters routinely damage buildings.)

      I, for example, obviously cannot afford to keep a car at every airport. Neither can you.

    3. Re:Interest is rent, and rent is theft by GameboyRMH · · Score: 1

      Rent is where you pay someone a permanent fee for the temporary use of something and so, when the transaction is over, they have what they rented you back again and you are out that money. This is how wealth accumulates in the hands of the already-wealthy!

      Shit, that really puts in in perspective...

      --
      "When information is power, privacy is freedom" - Jah-Wren Ryel
    4. Re:Interest is rent, and rent is theft by tompaulco · · Score: 1

      I guess I don't understand what you are saying about landlords. Are you saying that after the lease contract is up, then the landlord should give the house to the renter? If that is the case, i am sure the landlord would be happy to oblige. unfortunately, you won't be able to afford the monthly payments required to make that happen.
      Or perhaps you are saying that after the rental period is done, the landlord should give all the money back. That is pretty stupid. Obviously the landlord has costs as well. If you are just going to make being a landlord illegal, then a large percentage of the population of the world will become homeless. Most renters cannot afford to buy a house, or their credit is not good enough to do so, so they will just have to live on the street until such time as you see fit to make renting legal.
      Being a landlord is not as hugely profitable as you imagine it to be. If it was, then everybody would be a landlord. Unfortunately, as a landlord you have to float the costs of vacancy, damage caused by tenants, insurance which is higher than owner occupied due to the fact that tenants allow more water and fire damage than owners do, higher taxes due to the fact that most states allow an exemption for owner occupied, costs of maintaining an office, phone service, website, costs of advertising, costs of fixing stuff that tenants break, costs of fixing stuff that the state requires to be working for tenants that you know darn good and well that the tenants wouldn't have fixed if it was their house, and the list goes on.
      In higher priced areas of the country, many landlords went out of business. They were LOSING money on a month-to-month basis on rents and hoping to make it up by the appreciation of the house. But the real estate market crashed. In many higher priced areas of the country, the rent is STILL cheaper than a mortgage payment would be. The only reason that the landlord's can do this is because they bought the place 20 years ago and they paid a lot less for the house. If you went to buy that house now, you would have to pay more month to month for the mortgage than you are paying for rent.

      --
      If you are not allowed to question your government then the government has answered your question.
    5. Re:Interest is rent, and rent is theft by Pfhorrest · · Score: 1

      I'm not sure I completely understand you, but it sounds like you're asking about how venture capital would be handled? I.e. how would small businesses get the money needed to get rolling?

      I would say the best method under my rent-free market system would be shareholding. The entrepreneur creates a business, but needs to put money into it to make it go. The venture capitalist buys a big chunk of that business, on the bet that it will be worth more in the future and thus make him money. As the business takes off and begins bringing in money, the entrepreneur takes his share of the profits and, instead of using them to pay back the loan he would get under the current system, he uses it to buy back his business - for more than the initial price he got for it, as the business is now worth more than when it started, which is what made the investment worthwhile to the venture capitalist. The catch, where it differs from a lending-at-interest model, is that if the business is a failure and never brings in any money, the entrepreneur isn't left still on the hook to the venture capitalist: he loses his value in the company still, but the venture capitalist took a share of the risk along with a share of the potential gain when he bought into the company, so he loses his share of the value as well.

      --
      -Forrest Cameranesi, Geek of all Trades
      "I am Sam. Sam I am. I do not like trolls, flames, or spam."
    6. Re:Interest is rent, and rent is theft by Pfhorrest · · Score: 1

      The system I advocate in place of rental is buy-and-sell-back. That is, take for example "renting" a DVD (not that anybody does that anymore): I would go down to Blockbuster a buy a DVD from them, keep it for as long as I want, and then when I'm done with it I would take it back to them and sell it back. Then they would resell it to the next customer and so on. Blockbuster's business model, like all used-goods dealers, would be in selling for more than they buy back. I could of course try to find someone else who would want to buy it back for more than Blockbuster would, but that would be the competitive force keeping Blockbuster's prices down, and they would be banking on their advantage of being a known, convenient place to buy and sell used DVDs at reasonable prices to bring me straight to them instead of me spending time searching all over for the best deal.

      With this sort of model, how to handle things like maintenance and servicing is obvious: if I "rent" something from you and then "return" it in a damaged condition, you "charge me" to cover that damage; which is to say, if I buy it from you and then try to sell it back in a damaged condition, you offer less for the buy-back to cover that damage, because damaged goods are obviously worth less to you then undamaged ones.

      Big-ticket items like cars which cannot be purchased outright on the spot and then sold back when you're done have an added complication about how to pay off things over time, which I'm about to address in response to a sibling post of yours...

      --
      -Forrest Cameranesi, Geek of all Trades
      "I am Sam. Sam I am. I do not like trolls, flames, or spam."
    7. Re:Interest is rent, and rent is theft by Pfhorrest · · Score: 1

      Well, as I am saying that leasing (just another word for renting) should not be happening to begin with, then with regards to housing I'm saying it should work like people who move from house to house before paying one off works now. You move into the house and start making payments on it; when you leave, you find someone else who wants to live where you are now, you get your equity in the first house back from them, and use it to start making payments on the new house. You may move from place to place, but the money you spend on housing doesn't vanish down a hole: it builds assets for you, and eventually you end up owning a whole house and don't have to keep paying for a place to live.

      "Landlords" might choose to function in a fashion similar to my hypothetical Blockbuster video "rental" model I just detailed in this post: being a convenient local place to buy and sell from, and making money (leveraging that convenience to draw in customers) by buying back at a lower price than they sell for. They would basically become real estate agencies. That post also details how to cover the expense of upkeep and maintenance in a fairly simple fashion.

      There is a complication here in that currently the existing homeowner is paid outright for the house he's selling out of a loan that the new buyer got, and uses that money to pay off the loan he used to buy the house to begin with, keeping the difference to use as a down payment on his new house. As in a rent-free market, large cash loans are unlikely to be given to individuals (lenders would have no interest in doing so - literally), things would have to work a little differently. The most straightforward method is payment terms other than "on delivery" (with prices offered varying by the terms). You would buy the house from its existing owner over time in monthly installments; basically, your "rent" in the house would build equity in the house for you. Then when you move, whoever you sell it to begins paying you off in the same fashion; you take that source of income and use it to finish paying off the old house, and then use your own existing income to start paying off the new one. Since you'd already been paying off the old one, you will pay that off before the person who bought it off you finishes paying you off, and eventually you will have a source of income from your equity in the old house which you can use to finish paying off the new one.

      Of course, this leads to some complicated chains of who-owes-who, and this is somewhere that banks could step in and provide a service: you want to sell your old house and just sever all ties and not deal with paying it off while collecting from the new owners, so the bank can offer to buy your house from you right now (so you can pay off the old owner and take your equity straight to the new house) and then slowly collect from the new owner. They could turn a profit for this service by buying it from you for less than the intended new owner would; whether their lower price is worth the convenience of severing all ties like that is up to you. Banks could further involve themselves like this in the first place: you want to buy a house, but nobody wants to offer you terms on it other than due-upon-receipt, so you ask a bank to buy the house and then sell it to you with better terms - albiet, for a higher price. This would make the banks' investment similar to the venture capitalists' under my model as detailed in this reply to another sibling post.

      You write:

      i am sure the landlord would be happy to [sell the house]. unfortunately, you won't be able to afford the monthly payments required to make that happen.

      and:

      If you are just going to make being a landlord illegal, then a large percentage of the population of the world will become homeless. Most renters cannot afford to buy a house, or their cre

      --
      -Forrest Cameranesi, Geek of all Trades
      "I am Sam. Sam I am. I do not like trolls, flames, or spam."
    8. Re:Interest is rent, and rent is theft by thejaq · · Score: 1

      I meant far more practically, if we can't rent money how do we negotiate to buy expensive things? How do I buy a house? How does a farmer buy a tractor? How does a business manage delays in accounts payable/receivable?

    9. Re:Interest is rent, and rent is theft by DurendalMac · · Score: 1

      Right, because people who can only afford to rent can DEFINITELY afford to buy, right? I mean, I'm sure they all have good enough credit that a bank could give them a loan. And it would be so cheap to outright sell an apartment unit, I'm sure. Getting a six moth to one year lease because you're not sure if you're going to stay in the area? NO! You don't get to do that! You have to buy it outright, and then risk getting stuck under it if you need to move out of the area! Hoping to find a better place once your lease is up, perhaps a bit cheaper or in a better neighborhood? Well, you can't just pick up and move out, you have to get it sold! Are you a student? Buy that apartment! That's completely feasible! And apartment owners (who really aren't loaded to the gills. I mean, really, you're going to hold them up as a huge example of the wealthy? Are you kidding me?) will just have to eat it and sell off everything they have, putting them out of a job and a livelihood. On the business side, yeah, that's a brilliant idea. With so many small businesses going bankrupt and going under, what's going to happen when they all have to buy every lot and fold before it gets anywhere close to paid off? Banks eat shit as a result, and not the big guys (who can absorb it), but the smaller regional banks will suffer tremendously. As a result, good luck ever opening a business without some MAJOR investment to put down on that property, because most banks will have immensely high hurdles to buy a business property in the current climate. And business property is so cheap to purchase, especially in a big city. Want to open a seasonal store for a few months in an existing building? Better get ready to buy it and then sell it again!

      And yes, it's such a wealth collector because renters owners are just LOADED, aren't they? A few big dogs are, but a lot of this stuff is handled through small-time outfits, especially outside of big cities. This is one of the dumbest damned things I've ever seen on Slashdot, and that's really saying something. You are all ideals and no idea. Rent exists partially because people DO NOT WANT OWNERSHIP. They want a place to live with someone else handling maintenance and they want to be able to move out at some point without being stuck with housing that they have to get sold. That's not applicable to everyone in a rental unit, but it's a good chunk. Try actually thinking about the impact of these things before posting this laughable drivel.

    10. Re:Interest is rent, and rent is theft by Pfhorrest · · Score: 1

      Right, because people who can only afford to rent can DEFINITELY afford to buy, right?

      You seem to have missed the main point that eliminating the rental option forces the purchase option to be on more reasonable terms, because property owners aren't just going to sit on their unused property and let it rot when they could sell it for a profit (just not the same profit they could rent it for). The entire aim of this is to make it so that more people can buy.

      I've addressed most of your points extensively in replies to other posts in this thread so I won't cover them again here. But:

      And apartment owners [...] will just have to eat it and sell off everything they have, putting them out of a job and a livelihood

      Owning something and collecting fees for other people using it is not a job, it's parasitism. The inability to do so is literally what defines "working class". Abolishing rent would force the owners to get jobs and work for a living. They could, for example, buy and sell homes (solving the liquidity problem you're so concerned about, a useful service they could perform at a profit), and/or sell home maintenance services (another useful service people would probably pay for).

      And yes, it's such a wealth collector because renters owners are just LOADED, aren't they?

      You yourself are the one pointing out how few people can afford to buy houses, so if someone not only owns their own house that they live in but also owns others that they can charge other people to live in, then yeah, I'd call that pretty loaded. There are certainly wide degrees of "loaded", but if you own a house you are definitely not poor by any means, and if you own more houses than you can use (i.e. at least two) then I'd say that puts you into the "loaded" category. It puts you into the category of people who can profit just from owning certain assets, at least, which is the definitional distinction between "working class" and "capitalist".

      --
      -Forrest Cameranesi, Geek of all Trades
      "I am Sam. Sam I am. I do not like trolls, flames, or spam."
    11. Re:Interest is rent, and rent is theft by Pfhorrest · · Score: 1

      We already have a concept of payment terms which are not tied to interest. E.g. you receive an item with an invoice due in 30 days, or 60 days, or due upon receipt (the default for point-of-sale purchases). If you do not pay on the agreed-upon terms, you have stolen that item. So if I'm buying a $500 item, maybe $100 is due upon receipt, $100 is due in 30 days, $100 is due in 60 days, $100 is due in 90 days, and $100 is due in 120 days. Lots of "As Seen On TV" items are already sold this way ("buy now for just five easy payments of $39.95...") The agreed-upon price may be dependent upon the agreed-upon terms: the store may advertise that I can buy this for $500 in five $100 installations, or buy it for $400 now.

      The difference between this and interest is that if I fail to pay, I don't just sink into a deeper hole of debt by accumulating interest: I've stolen the item. I took something on the agreement that I would pay a certain price for it on certain terms, and then failed to do so. So the police can come and take it (or an equivalent value if it's gone) back from me, and return it to the rightful owner; but, I am also due back the payments I have already made. If I walk into a convenience store, buy a $5 item, plop down $2 and try to walk out the door but he stops me, I've got two options: either I give him another $3, in which case I've bought the item and am free to go, or I give back the item, in which case he gives me back me $2. If I walk out with the item without paying full price, I'm stealing from him; but if he keeps the item and the partial payment, then he's stealing from me.

      If every seller doesn't want to deal with negotiating terms, banks can perform a service similar to the venture capitalists I described before: the bank buys the thing, and then they sell it to you on delayed terms.

      --
      -Forrest Cameranesi, Geek of all Trades
      "I am Sam. Sam I am. I do not like trolls, flames, or spam."
  57. OpFacebook was not a hoax by Anonymous Coward · · Score: 0

    The problem with OpFacebook was that most of those who call themselves Anonymous have already drunk the Koolaid. They didn't want to see their cherished timekiller threatened, so they turned on Facebook critics and even exposed one person's private data for proposing to attack Facebook. You aren't allowed to be anonymous in Anonymous if you don't agree with the sheeple.

  58. Except they're not stealing any money by Anonymous Coward · · Score: 0

    They're changing some numbers.

    The banks will reverse the charges, won't be able to cost either party for it, therefore the money comes out of the profits, and the CEO's windfall is reduced whilst the workers on the front-line get overtime pay.

    There's nothing civil about stealing money? Tell that to the banks.

  59. yes you can. by unity100 · · Score: 1

    actually, the way the lending institutions do it is that. you lend nonexistent cash,showing your assets as collateral. in america you can lend up to 10 times the value of your assets. for every 1 unit of asset you can lend 10units of cash. it is nonexistent cash. its not an asset in cash. it is cash lent over asset as collateral. now imagine what happens when someone inflates that 1 units of asset to 60 times its value through hedge fund trickery and then lends 10 times the cash. now the safe lending ratio (10 was still too much in fact) has been circumvented to the rate of lending SIX HUNDRED times cash for 1 unit of REAL asset.

  60. 5 reasons you are really really messed up by Anonymous Coward · · Score: 0

    1. you are advocating the rape of innocent people

    2. you are advocating rape to achieve a political goal

    3. if you were a commander in a war and did this, you would be guilty of war crimes

    4. some 'moderators' modded you up. violating the root of the word 'moderator' (to moderate the extremes)

    5. all of you should have a long, long talk with a psychologist

    1. Re:5 reasons you are really really messed up by Anonymous Coward · · Score: 0

      3. if you were a commander in a war and did this, you would be guilty of war crimes if you lost the war

      I fixed your post. Don't worry about the fix fee, btw you should raise your credit card limit.

  61. Since the problem is caused by the banks by Anonymous Coward · · Score: 0

    Since the problem is caused by the banks (they lost the information), they will not be able to charge the charities. If they try, a quick visit to the courts and any jury will defend the charity against being charged for a problem not their own.

  62. Oliver Twist by TimeOut42 · · Score: 1

    Anon is just a bunch of sheep being led around by their noses by either nation-states or organized crime. They are going to take it to the next step and turn all their 'followers' into Oliver Twist-like characters. Wake up children, you're being had.

  63. I just want to say... by multimediavt · · Score: 1

    Anonymous, I am poor. My bank routing number is ...

  64. Hijacked? by Anonymous Coward · · Score: 0

    Methinks that Anonymous' do-good originals may have been hijacked by evil-doing imposters. The tactics haven't changed, it's always been borderline "terroristic" (as a style, not a moral judgment), but has shifted from safe/clean attacks to ones that are going to have a lot of collateral damage.

  65. Simplest Solution: Kill the rich. by Anonymous Coward · · Score: 0

    When it gets SOO bad that you literally cannot survive, find yourself a rich person (Two SUVs and a jetski will seem rich to you at that point, no need to target Buffet) ..and kill them.

    You will have your basic needs met via the prison system (or you'll die... wikipedia Thich Quang Duc, there are people that actually believe in the shit they spew)... one less rich person, a message similar to the one sent out during the times of public executions will go out.. something to the effect of "extreme greed will not be tolerated by society" and the problem will come into balance.

    REALITY is

    No one will make this statement. No one gets this desperate. "The system", imperfect as it is.. works well enough to keep the wolves at bay.

    Reality is that the higher ideals of compassion, empathy, concern for fellow man, fuck.. common fucking sense! The tools that would allow systems like government, education and healthcare to be more than barely functional cash machines for "the 1%" do not yet apply to this society, and may never. Oh well. Maybe Applied Cryogenics and a 1000 year nap, but I don't have much faith..

    Want a small step? Be an engineer or accountant or humanitarian and go into politics. ...yeah, that old adage about "too smart to go into politics"

    Your best bet is bank local and be an evangelist for common sense... futile as that may be.

  66. Protesting, then and now by Anonymous Coward · · Score: 0

    Then: "Let's march to protest bad laws".

    Now: "Let's protest bad laws by committing petty crimes, providing convenient excuses to bring about more bad laws, but that's OK 'cos those laws were going to happen anyway, everything is futile and the world sucks, time to slit wrists, now which way were you supposed to do that, gotta check the internet..."

    1. Re:Protesting, then and now by tompaulco · · Score: 1

      I think that people are just using the "bad laws" excuse as an attempt to present an altruistic motive to their otherwise disgusting desire to steal and cause general mischief and mayhem.

      --
      If you are not allowed to question your government then the government has answered your question.
  67. Go for the gold(en ones) by Will.Woodhull · · Score: 1

    How hard would it be for Anonymous to filter the identity theft data and use only credit cards that belong to the 1%? Or to select corporations? I do not think that would be so hard. I doubt that the 99% have any reason to fear that Anonymous in that respect.

    As to potential recipients of Robin Hood booty, these fall into two categories. One consists of "charities" like the RIAA, Church of Scientology, and white supremacist groups who are deserving of a multitude of $5 dollar donations that are sure to trigger "recipient pays expenses of reversal" rules. The other group contains charities like Doctors Without Borders, the EFF, child welfare support, and so on who would benefit from large contributions that fit the normal financial patterns of the "contributors" selected by Anonymous.

    Com'on slashdotters, use yer noggins fer somepin more than hat racks. Anonymous has demonstrated that it has the skills to sort sheep from goats and to tailor their activities appropriately. More than likely, they have not made this public announcement without having first spent a few months in real world testing.

    --
    Will
    1. Re:Go for the gold(en ones) by Jibekn · · Score: 1

      You say that as if anon isnt a bunch of teenagers with moderate sql injection skills.

      This whole 'OP' proves it, because any adult knows that the only result of using fake credit card data to give money to charities, will only hurt the charities, this will cost the banks $0, the BEST case scenario is that the banks insurance companies pay out the money because the 'charities' where really fronts and they're long gone with the cash. The worst case and most likely, is a bunch of legitimate charities are going to go bankrupt because of these idiots.

    2. Re:Go for the gold(en ones) by Will.Woodhull · · Score: 1

      You say that as if anon isnt a bunch of teenagers with moderate sql injection skills.

      Parent post assumes way too much. The level of sophistication in a cybernetic attack should never be greater than the minimum amount needed to make the attack successful. Do not show off how big your biggest gun is until you need to use it.

      Not sure how Original Post proves parent post's point; the logic is unfathomable.

      --
      Will
  68. dumb by Anonymous Coward · · Score: 0

    This is dumb. You may be hurting the banks, but if my credit card data is going to be used, I am NOT looking forward to go wasting my time to deal with the bank. What do you guys think, I can start keeping my money under the pillow? Stick to hurting banks, not ordinary citizens, ffs.

  69. Hum... by JustAnotherIdiot · · Score: 1

    If anyone honestly thinks this is going to hurt the rich in any shape, form or fashion, they've got more than a few screws loose.

    --
    What do I know, I'm just an idiot, right?
  70. Anonymous if you're listening . . . by orgenegro · · Score: 1

    Don't donate stolen funds directly to the charity, use the credit cards to buy from someone you also despise (Walmart?) and have the product shipped to the charity? I'm not sure if this would work, but I think if Anon put a little thought into the matter they might find ways that eliminate at least some of the problems posted in here. I mean, none of this is ever going to happen, but if it did, it could be done better.

  71. Bring it down =D by Zlyph · · Score: 1

    While delving into the details of how it will play out is interesting... I dont think any of that really matters to them. I dont want to call what they are doing misdirection or overt lieing but the intent here is to throw fuel on an ever growing fire, how the flames lash out really doesnt matter (to them) all that much.

  72. what? by Anonymous Coward · · Score: 0

    wahh the evil banks, oh boo hoo. Do what all the 60's radicals did, go into places of leadership and destroy from within instead of hurting innocent people. Wah whose afraid of the big bad banks, the big bad banks. When will you commie idiots ever learn you back water hill billies. Men bigger than you fought in ww11 to stop this stuff.

  73. Have been charging to charity for years by esuoh · · Score: 1

    this could be true but, stolen credit cards are always charged to charity first to check to see if the card is working. if the card works, then they can buy whatever. This is not Anonymous. This practice has been done for a long time.

  74. Really, really bad timing Anon by wdef · · Score: 1

    This one is dumb. A number of banks are already threatened in Europe and are posting losses. Banks have ordinary people's money in there.

    Please go back to targeting evil Facebook - now that is doing a real social service.

  75. Re:mod Do3n by wdef · · Score: 1

    Your pumpkin is showing.

  76. Creation of cash. by Dozy+Lizard · · Score: 1

    It's like virtual particles. Particle (cash) and anti particle (debt) pairs can spontaneously pop into existence. So all we need is a black hole to swallow the debt and cash is the equivalent of Hawking radiation apparently emitted by a black hole. I surmise that the worlds current financial problems are due to the black hole(s) finally evaporating.

    1. Re:Creation of cash. by Sarten-X · · Score: 1

      That's actually one of the examples I like to use, usually when talking with physicists.

      A major part of the current financial crisis was caused by large-scale annihilation. Banks foreclosed loans that weren't being paid back, taking a huge amount of debt and money out of the economy. The public at large saw the loss of money (but not the loss of debt), and panicked about disappearing wealth, so the public stopped spending (thereby moving) money.

      The economy now needs to get moving again, and that means having more debt and money. Banks don't want to make anywhere near as many loans, though, so the equivalent money can't be introduced. That's one of the main reasons why the Federal Reserve Bank interest rate is now lower than the inflation rate: to encourage banks to make loans, and introduce money into the economy. With a low interest rate from the Fed, it's more likely that a loan would be profitable for a bank.

      --
      You do not have a moral or legal right to do absolutely anything you want.
  77. Anonymous, please go away. by Anonymous Coward · · Score: 0

    Robin Hood didn't "steal from the rich to give to the poor". He stole from an oppressive government which taxed its subjects literally into the poorhouse, and gave some relief back to those overtaxed subjects.

    Anonymous, please just go away and leave us productive citizens alone.