List of Archived Posts

2009 Newsgroup Postings (02/08 - 02/26)

Audit II: Two more scary words: Sarbanes-Oxley
Audit II: Two more scary words: Sarbanes-Oxley
history of comments and source code annotations
How to defeat new telemarketing tactic
How to defeat new telemarketing tactic
history of comments and source code annotations
How to defeat new telemarketing tactic
Payments start-up Noca takes aim at interchange Achilles heel
How to defeat new telemarketing tactic
Assembler Question
How to defeat new telemarketing tactic
How to defeat new telemarketing tactic
Assembler Question
Four decades of a flying giant
Assembler Question
Bletchley Park fires up Big Green-Eyed Monster
How to defeat new telemarketing tactic
Bletchley Park fires up Big Green-Eyed Monster
How to defeat new telemarketing tactic
The Evolution of the Internet
Decision Making or Instinctive Steering?
IBM tried to kill VM?
Fresh start for lost file formats
Fresh start for lost file formats
IBM tried to kill VM?
Crypto Craft Knowledge
Tracing the third "when" in a "Select"
Is the Relational Database Doomed?
How to defeat new telemarketing tactic
How to defeat new telemarketing tactic
I need magic incantation for a power conditioner
H5: Security Begins at the Application and Ends at the Mind
How to defeat new telemarketing tactic
H5: Security Begins at the Application and Ends at the Mind
Is the Relational Database Doomed?
Why do IBMers think disks are 'Direct Access'?
How to defeat new telemarketing tactic
The 20th Century of Central Banking is over
People to Blame for the Financial Crisis
'WHO IS RESPONSIBLE FOR THE GLOBAL MELTDOWN'
Assembler Question
Why do IBMers think disks are 'Direct Access'?
How to defeat new telemarketing tactic
Business process re-engineering
How to defeat new telemarketing tactic
How to defeat new telemarketing tactic
How to defeat new telemarketing tactic
Using a PC as DASD
How to defeat new telemarketing tactic
How to defeat new telemarketing tactic
SSLstrip hacking tool bypasses SSL to trick users, steal passwords
How to defeat new telemarketing tactic
THE runs in DOS box?
How to defeat new telemarketing tactic
THE runs in DOS box?
Who will give Citigroup the KNOCKOUT blow?
Why use RFID in personal documents & cards at all?
Western Union history--data communications passed it by
Has anyone seen a lift from using an Extended Validation SSL Certificate?
Why do IBMers think disks are 'Direct Access'?
SSLstrip hacking tool bypasses SSL to trick users, steal passwords
Accounting for the "greed factor"
Western Union history--data communications passed it by
SSLstrip hacking tool bypasses SSL to trick users, steal passwords
Western Union history--data communications passed it by
is it possible that ALL banks will be nationalized?
Why do IBMers think disks are 'Direct Access'?
How to defeat new telemarketing tactic

Audit II: Two more scary words: Sarbanes-Oxley

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Audit II: Two more scary words: Sarbanes-Oxley
Date: Feb 8, 2009
Blog: Financial Cryptography
re:
https://financialcryptography.com/mt/archives/001140.html

at a european executive financial conference a few yrs ago, I commented that it would be relatively straight-forward to manipulate computer books to get by (SOX would catch mistakes but didn't seem like it would explicit fraud) ... and the only thing I saw in SOX was the section about whistle-blowers. a couple old posts with references:
http://www.garlic.com/~lynn/2008s.html#9
http://www.garlic.com/~lynn/2009.html#53

Enron & Worldcom was supposedly laid at the door of deregulation and Sarbanes-Oxley was the result ... pbs website with discussion of Enron, Worldcom, deregulation, repeal of Glass-Steagall:
http://www.pbs.org/wgbh/pages/frontline/shows/wallstreet/

then comes congressional hearings last week into Madoff ponzi scheme ... with the person that has been trying for a decade to get SEC to do something about it .. A few recent posts ... discussing in more detail:
http://www.garlic.com/~lynn/2009b.html#65
http://www.garlic.com/~lynn/2009b.html#73
http://www.garlic.com/~lynn/2009b.html#80

In his testimony, there was repeated theme that crooks & fraud thrive where there is lack of visibility and transparency ... and the major recommendation is to change the culture to provide transparency in all aspects of the operations. There is need for new legislation and regulations, but they will always lag behind the crooks. Much more important is creating institutional and infrastructure transparency.

A couple other tidbits:
could only think of one person at SEC (in some field office, gave their name) that had any understanding of financial transactions ... all the others at the SEC had no understanding (and were mostly lawyers).

only 4% of fraud is turned up by audits ... over 50% from tips; tips are 13 times more effective than audits. SEC has a 1-800 hotline for companies to complain about too vigorous investigation. there is no corresponding "tip" line.

The Madoff ponzi scheme isn't the only one, in the process of turning over detailed documentation to the authorities about a (different) "small" $1b ponzi scheme.

if it wasn't for the current financial crisis, the Madoff ponzi scheme easily could have continued to $100B

None of the clients he advised, had gotten involved with Madoff


... snip ...

Possibly, in part because SEC didn't seem to be doing anything, GAO started database:
http://www.gao.gov/special.pubs/gao-06-1079sp//index.html

from above:
The database consists of two files: (1) a file that lists 1,390 restatement announcements that we identified as having been made because of financial reporting fraud and/or accounting errors between July 1, 2002, and September 30, 2005, and (2) a file that lists 396 restatement announcements that we identified as having been made because of financial reporting fraud and/or accounting errors between October 1, 2005, and June 30, 2006.

... snip ...

Audit II: Two more scary words: Sarbanes-Oxley

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Audit II: Two more scary words: Sarbanes-Oxley
Date: Feb 8, 2009
Blog: Financial Cryptography
re:
http://www.garlic.com/~lynn/2009c.html#0 Audit II: Two more scary words: Sarbanes-Oxley

Sarbanes-Oxley supposedly also required SEC to do something about the rating agencies .. but there doesn't seem to be anything other than:

Report on the Role and Function of Credit Rating Agencies in the Operation of the Securities Markets; As Required by Section 702(b) of the Sarbanes-Oxley Act of 2002
http://www.sec.gov/news/studies/credratingreport0103.pdf

In the congressional hearings last fall on the rating agencies, there was repeated testimony that both the rating agencies and the toxic CDO issuers/sellers knew that the toxic CDOs weren't worth triple-A ratings, but the issuers/sellers were paying for the triple-A ratings. Futher testimony was that in the early 70s, the rating agencies business process became misaligned when they switched from the buyers paying for the ratings to the sellers paying for the ratings (significantly opening things up for conflict of interest).

Last month there was news item that IDC had been brought in to help price toxic assets the gov. was looking at buying. IDC had bought the "pricing services" division from one of the rating agencies in 1972 (in the period that testimony said the rating agencies' business process became misaligned) ... as an aside I interviewed with IDC in '69 ... some recent posts
http://www.garlic.com/~lynn/2009.html#21
http://www.garlic.com/~lynn/2009.html#31
http://www.garlic.com/~lynn/2009.html#32

Long-winded decade old post mentioning some of the current issues
http://www.garlic.com/~lynn/aepay3.htm#riskm

We had been called in to consult with a small client/server startup that wanted to do payment transactions on their server ... and they had invented this technology they wanted to use called SSL. there had to be a whole lot of work to turn technology into actual business processes to do financial transactions (frequently now called "electronic commerce"). then in the mid-90s, we were invited to participate in the x9a10 financial standards working group which had been given the requirement to preserve the integrity of the financial infrastructure for all retail payments ... which resulted in the x9.59 financial standard ... some references
http://www.garlic.com/~lynn/x959.html#x959

Somewhat as the result of "electronic commerce" & x9.59 work, we were asked to come in to NSCC (since combined with DTC and renamed DTCC) to see if we could do something similar for all the operations in the securities industry. After some amount of effort, it was eventually suspended because a side-effect of the increased integrity would have created significantly more transparency in all aspects of the industry. This ran into conflict with pervasive cultural for lots of obfuscation and lack of transparency ... recent post:
http://www.garlic.com/~lynn/2008s.html#63

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

history of comments and source code annotations

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: history of comments and source code annotations
Newsgroups: alt.folklore.computers
Date: Mon, 09 Feb 2009 00:43:42 -0500
Larry__Weiss <lfw@airmail.net> writes:
The most striking use of comments I recall was the efforts to embed diagrammatic constructions like data layouts into the source code. Several years ago we had a discussion here of the topic of using simple printable characters to create this sort of diagram.

IBM (asembler) macro library DSECTS (storage definitions)) normally always had storage layout diagrams (at least back thru 360 assembler days) ... one of the other posts in the thread mentions this reference:
http://publibz.boulder.ibm.com/cgi-bin/bookmgr/BOOKS/DSNAG0F5/1.2.3.1?SHELF=&DT=19990716185412

and some of my posts from that thread:
http://www.garlic.com/~lynn/2003k.html#42 text character based diagrams in technical documentation
http://www.garlic.com/~lynn/2003k.html#43 text character based diagrams in technical documentation
http://www.garlic.com/~lynn/2003k.html#44 text character based diagrams in technical documentation
http://www.garlic.com/~lynn/2003k.html#45 text character based diagrams in technical documentation

for instance, part of DSECT from (hercules) vm370 source ... mentioned in this recent post
http://www.garlic.com/~lynn/2008s.html#64 Computer History Museum

.MIH01   ANOP
MIHREC   DSECT
*
***      MISSING INTERRUPT HANDLER ERROR RECORD
*
•        +---------+----+----+----+----+---------+
•        | MIHKEYN | S1 | S2 | S3 | S4 | MIHSPE1 |
•        +---------+----+----+----+----+---------+
•        |      MIHDTEN      |      MIHTMEN      |
•        +-------------------+-------------------+
•        |                MIHCPID                |
•        +---------------------------------------+
•        |                MIHJOB                 |
•        +-------------+---------------+---------+
•        |   MIHCUA2   |    MIHCUA1    |   MIH - |
•        +-------------------+-------------------+
•        |         VOL       |      MIHDEVT      |
•        +-------------------+-------------------+
•        |                MIHINT                 |
•        +---------------------------------------+

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

How to defeat new telemarketing tactic

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: How to defeat new telemarketing tactic
Newsgroups: alt.folklore.computers
Date: Mon, 09 Feb 2009 12:45:00 -0500
jmfbahciv <jmfbahciv@aol> writes:
<snip> My brain still isn't working well so I'll read your post another day.

re:
http://www.garlic.com/~lynn/2009b.html#78 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009b.html#79 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009b.html#80 How to defeat new telemarketing tactic

somewhat simpler ... from yesterday in financial crypto blog ... just following the Sarbanes-Oxley & SEC part of the thread:
http://www.garlic.com/~lynn/2009c.html#0 Audit II: Two more scary words: Sarbanes-Oxley
http://www.garlic.com/~lynn/2009c.html#1 Audit II: Two more scary words: Sarbanes-Oxley

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

How to defeat new telemarketing tactic

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: How to defeat new telemarketing tactic
Newsgroups: alt.folklore.computers
Date: Mon, 09 Feb 2009 13:10:55 -0500
sidd <sidd@situ.com> writes:
You are far too kind to the financial sector. They know perfectly well how to value their assets and liabilities. Unfortunately, if they do so, they are revealed to be insolvent. So they will lie, hide, obfuscate, evade, do evrything possible to blur the true state of affairs. They are sucking up taxpayer money and using it to offset losses yet to be acknowledged. Making new loans is the last thing on their list.


http://www.garlic.com/~lynn/2009b.html#78 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009b.html#79 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009b.html#80 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#3 How to defeat new telemarketing tactic

just now, a couple hosts on tv business news show were aghast with the news that chairman of goldman-sachs came out in favor of mark-to-market, executive compensation limitations, doing their own valuations (not relying on the rating agencies), risk managers being able to overrule traders (and other business people), and some number of other tidbits.

One of the ways that the business people overruled the risk managers was to have the input to the models fiddled until it supported for what they wanted to do (garbage in, garbage out)

How Wall Street Lied to Its Computers
http://bits.blogs.nytimes.com/2008/09/18/how-wall-streets-quants-lied-to-their-computers//

misc. past posts mentioning the How Wall Street Lied to Its Computers
http://www.garlic.com/~lynn/2008n.html#49 VMware Chief Says the OS Is History
http://www.garlic.com/~lynn/2008n.html#52 Technology and the current crisis
http://www.garlic.com/~lynn/2008n.html#53 Your thoughts on the following comprehensive bailout plan please
http://www.garlic.com/~lynn/2008n.html#56 VMware Chief Says the OS Is History
http://www.garlic.com/~lynn/2008n.html#65 Whether, in our financial crisis, the prize for being the biggest liar is
http://www.garlic.com/~lynn/2008n.html#69 Another quiet week in finance
http://www.garlic.com/~lynn/2008n.html#72 Why was Sarbanes-Oxley not good enough to sent alarms to the regulators about the situation arising today?
http://www.garlic.com/~lynn/2008n.html#78 Isn't it the Federal Reserve role to oversee the banking system??
http://www.garlic.com/~lynn/2008n.html#80 Why did Sox not prevent this financal crises?
http://www.garlic.com/~lynn/2008n.html#82 Fraud in financial institution
http://www.garlic.com/~lynn/2008o.html#15 Financial Crisis - the result of uncontrolled Innovation?
http://www.garlic.com/~lynn/2008o.html#18 Once the dust settles, do you think Milton Friedman's economic theories will be laid to rest
http://www.garlic.com/~lynn/2008o.html#19 What's your view of current global financial / economical situation?
http://www.garlic.com/~lynn/2008o.html#26 SOX (Sarbanes-Oxley Act), is this really followed and worthful considering current Financial Crisis?
http://www.garlic.com/~lynn/2008o.html#28 Does anyone get the idea that those responsible for containing this finanical crisis are doing too much?
http://www.garlic.com/~lynn/2008o.html#34 The human plague
http://www.garlic.com/~lynn/2008o.html#75 In light of the recent financial crisis, did Sarbanes-Oxley fail to work?
http://www.garlic.com/~lynn/2008o.html#82 Greenspan testimony and securization
http://www.garlic.com/~lynn/2008o.html#83 Chip-and-pin card reader supply-chain subversion 'has netted millions from British shoppers'
http://www.garlic.com/~lynn/2008p.html#8 Global Melt Down
http://www.garlic.com/~lynn/2008p.html#70 Is there any technology that we are severely lacking in the Financial industry?
http://www.garlic.com/~lynn/2008q.html#49 Have not the following principles been practically disproven, once and for all, by the current global financial meltdown?
http://www.garlic.com/~lynn/2008q.html#50 Obama, ACORN, subprimes (Re: Spiders)
http://www.garlic.com/~lynn/2008r.html#58 Blinkenlights
http://www.garlic.com/~lynn/2008r.html#64 Is This a Different Kind of Financial Crisis?
http://www.garlic.com/~lynn/2008s.html#8 Top financial firms of US are eyeing on bailout. It implies to me that their "Risk Management Department's" assessment was way below expectations
http://www.garlic.com/~lynn/2008s.html#9 Blind-sided, again. Why?
http://www.garlic.com/~lynn/2008s.html#23 Garbage in, garbage out trampled by Moore's law
http://www.garlic.com/~lynn/2008s.html#29 Let IT run the company!
http://www.garlic.com/~lynn/2008s.html#35 Is American capitalism and greed to blame for our financial troubles in the US?
http://www.garlic.com/~lynn/2008s.html#55 Is this the story behind the crunchy credit stuff?
http://www.garlic.com/~lynn/2008s.html#62 Garbage in, garbage out trampled by Moore's law
http://www.garlic.com/~lynn/2009.html#14 What are the challenges in risk analytics post financial crisis?
http://www.garlic.com/~lynn/2009.html#63 CROOKS and NANNIES: what would Boyd do?
http://www.garlic.com/~lynn/2009.html#80 Are reckless risks a natural fallout of "excessive" executive compensation ?
http://www.garlic.com/~lynn/2009b.html#36 A great article was posted in another BI group: "To H*** with Business Intelligence: 40 Percent of Execs Trust Gut"
http://www.garlic.com/~lynn/2009b.html#53 Credit & Risk Management ... go Simple ?
http://www.garlic.com/~lynn/2009b.html#54 In your opinion, which facts caused the global crise situation?
http://www.garlic.com/~lynn/2009b.html#65 What can agencies such as the SEC do to insure us that something like Madoff's Ponzi scheme will never happen again?

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

history of comments and source code annotations

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: history of comments and source code annotations
Newsgroups: alt.folklore.computers
Date: Tue, 10 Feb 2009 10:29:43 -0500
jmfbahciv <jmfbahciv@aol> writes:
ISTR keypunching a lot of cards that looked like that.

If you look at old, before-typeset, DEC documentation, you might notice that somebody drew lines over the +, -. Since we didn't have _ those ended up being an extra line of dashes. I also don't remember using the | character. That came later.


360/370 principles of operation went thru typeset (early on, w/solid lines) ... then when it had been converted to cms script ... with principles of operation a subset of the information in the "redbook" (for color of 3ring binder) architecture manual (cms script command line operation resulted in the whole manual being printed or the principles of operation subset) ... the boxes are drawn with +, -, | ... from characters on 1403 printer. Then when got direct cms script ouput to device that could draw boxes with solid lines ... it went back to looking like the earlier typeset.

cms script was done in the mid 60s ... part of (virtual machine) cp67/cms at the science center
http://www.garlic.com/~lynn/subtopic.html#545tech

... somewhat morph of the earlier ctss runoff command (ctss ran on 7094). then in 1969, gml was invented at the science center (by "G", "M", & "L") ... and gml tag processing was added to script command, in addition to runoff dot (".") processing. later in the 70s, gml was standardized as sgml ...
http://www.garlic.com/~lynn/submain.html#sgml

a decade after that, sgml morphed into html (at cern) ... recent discussion:
http://www.garlic.com/~lynn/2008p.html#67 Web Security hasn't moved since 1995

above has reference to the 1st web server outside europe/cern was on the slac (virtual machine) vm370 (morph of cp67)

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

How to defeat new telemarketing tactic

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: How to defeat new telemarketing tactic
Newsgroups: alt.folklore.computers
Date: Tue, 10 Feb 2009 10:55:42 -0500
re:
http://www.garlic.com/~lynn/2009b.html#78 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009b.html#79 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009b.html#80 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#3 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#4 How to defeat new telemarketing tactic

one of the tv business news show had blurb on program they are doing on what was behind the current economic crisis & housing bubble (thursday at 8pm) ... included is interview with greenspan ... where he comments that he was very slow to realize the degrading of lending standards ... side-effect of securitization which is at the root of most of what has happened.

however, CDO-like instruments had been used two decades ago during the S&L crisis w/o the pervasive current catastrophic effects. The major current factor, coupled with securitization ... was the rating agencies were giving triple-A ratings to the toxic CDOs (even when both the rating agencies and the issuers/sellers knew they weren't worth triple-A ratings). The triple-A ratings, enormously increased the institutions that would deal in toxic-CDOs and also enormously increased the amount of money available to loan orginators dependent on securitization as source of funds for lending (as opposed to regulated institutions that had been dependent on deposits as source of lending funds).

Then there are separate problems with many of the institutions buying these toxic CDOs. One of the interesting things is the enormous ugly spike (pimple/boil) in the home market corresponds with significant spike in wall street bonuses (nearly four hundred percent boost compared to home market pre-spike pimple/boil). Just looking at correlation between the two values (home market pimple/boil & wallstreet bonuses) ... one might assume some sort of associated transaction activity churn was going on with toxic CDOs solely for the purpose of inflating bonuses.

Past posts mentioning that lending institutions lost any motiviation to pay attention to loan quality with securitization (and the triple-A ratings resulted in an unlimited amount of funds).
http://www.garlic.com/~lynn/2008n.html#40 Success has many fathers, but failure has the US taxpayer
http://www.garlic.com/~lynn/2008n.html#78 Isn't it the Federal Reserve role to oversee the banking system??
http://www.garlic.com/~lynn/2008o.html#18 Once the dust settles, do you think Milton Friedman's economic theories will be laid to rest
http://www.garlic.com/~lynn/2008o.html#19 What's your view of current global financial / economical situation?
http://www.garlic.com/~lynn/2008o.html#26 SOX (Sarbanes-Oxley Act), is this really followed and worthful considering current Financial Crisis?
http://www.garlic.com/~lynn/2008o.html#28 Does anyone get the idea that those responsible for containing this finanical crisis are doing too much?
http://www.garlic.com/~lynn/2008o.html#43 The human plague
http://www.garlic.com/~lynn/2008o.html#52 Why is sub-prime crisis of America called the sub-prime crisis?
http://www.garlic.com/~lynn/2008o.html#80 Can we blame one person for the financial meltdown?
http://www.garlic.com/~lynn/2008p.html#8 Global Melt Down
http://www.garlic.com/~lynn/2008p.html#9 Do you believe a global financial regulation is possible?
http://www.garlic.com/~lynn/2008q.html#68 Obama, ACORN, subprimes (Re: Spiders)
http://www.garlic.com/~lynn/2008q.html#69 if you are an powerful financial regulator , how would you have stopped the credit crunch?
http://www.garlic.com/~lynn/2008r.html#36 Blinkenlights
http://www.garlic.com/~lynn/2008r.html#64 Is This a Different Kind of Financial Crisis?
http://www.garlic.com/~lynn/2008r.html#67 What is securitization and why are people wary of it ?
http://www.garlic.com/~lynn/2008s.html#9 Blind-sided, again. Why?
http://www.garlic.com/~lynn/2008s.html#18 What next? from where would the Banks be hit?
http://www.garlic.com/~lynn/2008s.html#20 Five great technological revolutions
http://www.garlic.com/~lynn/2008s.html#23 Garbage in, garbage out trampled by Moore's law
http://www.garlic.com/~lynn/2008s.html#35 Is American capitalism and greed to blame for our financial troubles in the US?
http://www.garlic.com/~lynn/2008s.html#55 Is this the story behind the crunchy credit stuff?
http://www.garlic.com/~lynn/2008s.html#59 Garbage in, garbage out trampled by Moore's law
http://www.garlic.com/~lynn/2009.html#14 What are the challenges in risk analytics post financial crisis?
http://www.garlic.com/~lynn/2009.html#42 Lets play Blame Game...?
http://www.garlic.com/~lynn/2009.html#52 The Credit Crunch: Why it happened?
http://www.garlic.com/~lynn/2009.html#73 CROOKS and NANNIES: what would Boyd do?
http://www.garlic.com/~lynn/2009b.html#1 Are Both The U.S. & UK on the brink of debt disaster?
http://www.garlic.com/~lynn/2009b.html#37 A great article was posted in another BI group: "To H*** with Business Intelligence: 40 Percent of Execs Trust Gut"
http://www.garlic.com/~lynn/2009b.html#52 What has the Global Financial Crisis taught the Nations, it's Governments and Decision Makers, and how should they apply that knowledge to manage risks differently in the future?
http://www.garlic.com/~lynn/2009b.html#53 Credit & Risk Management ... go Simple ?
http://www.garlic.com/~lynn/2009b.html#54 In your opinion, which facts caused the global crise situation?
http://www.garlic.com/~lynn/2009b.html#73 What can we learn from the meltdown?

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

Payments start-up Noca takes aim at interchange Achilles heel

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Payments start-up Noca takes aim at interchange Achilles heel
Date: Feb 10, 2009
Blog: Payment Systems Network
Payments start-up Noca takes aim at interchange Achilles heel
http://www.finextra.com/fullstory.asp?id=19621

from above:
Noca, a startup founded by former Visa executives to address the high costs associated with credit card processing, has launched the beta version of its payment system that virtually eliminates transaction fees for online merchants.

...
Noca charges only 0.25% on all transactions compared to the 2-3% plus $0.30 charge imposed by credit card companies on consumer purchases

... snip ...

One of the things that x9a10 financial standard working group looked at in the mid-90s (had been given the requirement to preserve the integrity of the financial infrastructure for all retail payments) for x9.59 financial transaction standard
http://www.garlic.com/~lynn/x959.html#x959

that it would be applicable to *ALL* payments; credit, debit, ach, stored-value, gift, POS, internet, face-to-case, unattended, etc ... i.e. *ALL*.

One of the things that the "electronic check" pilots went thru in the 90s ... was whether or not the transaction flowed thru the debit network (with same-day settlement) or the ACH network (with potentially day or two delay in settlement). The float from the delay in settlement was seen as partially offsetting the significant loss in interchange fees.

This is not a trivial amount. Two yrs ago, there was article that those fees represented nearly 40% of the bottom line for US institutions (although less than 10% for european institutions).

recent posts mentioning interchange fee issue ... and possible mis-aligned business process (i.e. the higher interchange fees are frequently associated with potential fraud ... eliminating such potential fraud, can also eliminate justification for some amount of the fees)
http://www.garlic.com/~lynn/2009.html#74 CROOKS and NANNIES: what would Boyd do?

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

How to defeat new telemarketing tactic

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: How to defeat new telemarketing tactic
Newsgroups: alt.folklore.computers
Date: Tue, 10 Feb 2009 13:33:52 -0500
Anne & Lynn Wheeler <lynn@garlic.com> writes:
Then there are separate problems with many of the institutions buying these toxic CDOs. One of the interesting things is the enormous ugly spike (pimple/boil) in the home market corresponds with significant spike in wall street bonuses (nearly four hundred percent boost compared to home market pre-spike pimple/boil). Just looking at correlation between the two values (home market pimple/boil & wallstreet bonuses) ... one might assume some sort of associated transaction activity churn was going on with toxic CDOs solely for the purpose of inflating bonuses.

i.e. you look at the home market spiking in the earlier part of this decade ... basically speculators using no-documentation, no-down, intro 1% interest only, ARMs (significantly lower carrying cost than market inflation in many areas of the country) to treat home market like the unregulated '20s stock market; aka the enormous flood of money for lenders that no longer cared about loan quality was enabled by the triple-A ratings on toxic CDOs. Do a graph of avg. home prices & ratio of avg. home prices to avg. salaries ... starting with the '70s ... showing enormous ugly inflation pimple/boil/bubble in the 2002-2007 period (which still hasn't completely deflated)

Then you look at similar (nearly 400%) spike in wallstreet bonuses during the same period. This is mostly related to those triple-A rated toxic CDOs ... but w/o even knowing what all the operations actually were, ... simple correlation would indicate that those activities led to something like $100B increase in wallstreet bonuses during the period (basically reward for their responsibilty for wallstreet & big bank part of the current crisis).

On one side of the triple-A rated toxic CDOs ... there is the treating the home market like the unregulated '20s stock market. One the other side there are some number of financial maneuvers that (at least) resulted in something like $100B spike in wallstreet bonuses.

Misc. last posts mentioning the spike in wallstreets bonuses:
http://www.garlic.com/~lynn/2008k.html#11 dollar coins
http://www.garlic.com/~lynn/2008m.html#26 Fraud due to stupid failure to test for negative
http://www.garlic.com/~lynn/2008m.html#83 Fraud due to stupid failure to test for negative
http://www.garlic.com/~lynn/2008n.html#52 Technology and the current crisis
http://www.garlic.com/~lynn/2008n.html#53 Your thoughts on the following comprehensive bailout plan please
http://www.garlic.com/~lynn/2008n.html#56 VMware Chief Says the OS Is History
http://www.garlic.com/~lynn/2008n.html#69 Another quiet week in finance
http://www.garlic.com/~lynn/2008n.html#74 Why can't we analyze the risks involved in mortgage-backed securities?
http://www.garlic.com/~lynn/2008o.html#18 Once the dust settles, do you think Milton Friedman's economic theories will be laid to rest
http://www.garlic.com/~lynn/2008o.html#26 SOX (Sarbanes-Oxley Act), is this really followed and worthful considering current Financial Crisis?
http://www.garlic.com/~lynn/2008o.html#28 Does anyone get the idea that those responsible for containing this finanical crisis are doing too much?
http://www.garlic.com/~lynn/2008o.html#31 The human plague
http://www.garlic.com/~lynn/2008o.html#32 How much is 700 Billion Dollars??
http://www.garlic.com/~lynn/2008p.html#8 Global Melt Down
http://www.garlic.com/~lynn/2008p.html#60 Did sub-prime cause the financial mess we are in?
http://www.garlic.com/~lynn/2008q.html#66 Blinkenlights
http://www.garlic.com/~lynn/2008r.html#61 The vanishing CEO bonus
http://www.garlic.com/~lynn/2008r.html#64 Is This a Different Kind of Financial Crisis?
http://www.garlic.com/~lynn/2008s.html#32 How Should The Government Spend The $700 Billion?
http://www.garlic.com/~lynn/2008s.html#33 Garbage in, garbage out trampled by Moore's law
http://www.garlic.com/~lynn/2008s.html#35 Is American capitalism and greed to blame for our financial troubles in the US?
http://www.garlic.com/~lynn/2008s.html#41 Executive pay: time for a trim?
http://www.garlic.com/~lynn/2008s.html#59 Garbage in, garbage out trampled by Moore's law
http://www.garlic.com/~lynn/2008s.html#70 Garbage in, garbage out trampled by Moore's law
http://www.garlic.com/~lynn/2009.html#73 CROOKS and NANNIES: what would Boyd do?
http://www.garlic.com/~lynn/2009.html#80 Are reckless risks a natural fallout of "excessive" executive compensation ?
http://www.garlic.com/~lynn/2009b.html#25 The recently revealed excesses of John Thain, the former CEO of Merrill Lynch, while the firm was receiving $25 Billion in TARP funds makes me sick
http://www.garlic.com/~lynn/2009b.html#41 The subject is authoritarian tendencies in corporate management, and how they are related to political culture
http://www.garlic.com/~lynn/2009b.html#49 US disaster, debts and bad financial management
http://www.garlic.com/~lynn/2009b.html#57 Credit & Risk Management ... go Simple ?
http://www.garlic.com/~lynn/2009b.html#59 As bonuses...why breed greed, when others are in dire need?

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

Assembler Question

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: Assembler Question
Newsgroups: bit.listserv.ibm-main,alt.folklore.computers
Date: Wed, 11 Feb 2009 11:32:52 -0500
eamacneil@YAHOO.CA (Ted MacNEIL) writes:
I believe they stopped after 3350-compatible drives. We were one of the last users in the Greater Toronto Area (Ontario Government) to migrate to 3380's.

And, CDC didn't even participate in the RFP. > It was just Amdahl, STK (as it was called back then), NAS & IBM.

there is the folklore about 200(?) or so disk engineers leaving San Jose disk division over a period of time ... lots of going to Memorox to do plug-compatible disk drives ... but some number of them going to other places like CDC.

in the late 70s I was over in bldg. 28 ... working on various things ... like original relational/sql implementation ... some past posts
http://www.garlic.com/~lynn/submain.html#systemr

but they would also let me play disk engineer over in bldg. 14&15.
http://www.garlic.com/~lynn/subtopic.html#disk

I was getting ask to participat in some number of high level discussions ... including conferences with channel engineers in POK. I aksed why and was told that those activities had previously been handled by various senior engineers ... but so many had left over the previous ten yrs.

plug-compatible controllers & devices has been given as major motivation for the Future System effort in the early 70s.
http://www.garlic.com/~lynn/submain.html#futuresys

couple old posts with various quotes/reference about FS motivation/activity:
http://www.garlic.com/~lynn/2001f.html#33
http://www.garlic.com/~lynn/2008s.html#17

I was somewhat involved in clone controllers as undergraduate in the 60s. I tried to get the 2702 communications controller to do something ... which it could almost, only (i.e. NOT) do. This was some of the motivation behind the university starting a clone controller project using an Interdata/3; reverse engineering the 360 channel interface, building channel interface board for the Interdata/3, and programming the Interdata/3 to emulate 2702 (and do some additional stuff). This was marketed by Interdata ... and then later when Perkin-Elmer bought Interdata, marketed under the Perkin-Elmer name.

One of the big issues for 3370s & 3380s were new kind of (thin-film) disk head (and possibly drop off in plug-compatible compitition ... although there was also pickup in disk market in other places ... like workstation and PCs).

Past posts mentioning "air-bearing" simulation as part of designing thin-film/floating heads:
http://www.garlic.com/~lynn/2001n.html#39 195 was: Computer Typesetting Was: Movies with source code
http://www.garlic.com/~lynn/2005o.html#44 Intel engineer discusses their dual-core design
http://www.garlic.com/~lynn/2006c.html#6 IBM 610 workstation computer
http://www.garlic.com/~lynn/2006d.html#0 IBM 610 workstation computer
http://www.garlic.com/~lynn/2006d.html#14 IBM 610 workstation computer
http://www.garlic.com/~lynn/2006t.html#41 The Future of CPUs: What's After Multi-Core?
http://www.garlic.com/~lynn/2006u.html#18 Why so little parallelism?
http://www.garlic.com/~lynn/2006x.html#27 The Future of CPUs: What's After Multi-Core?
http://www.garlic.com/~lynn/2006x.html#31 The Future of CPUs: What's After Multi-Core?
http://www.garlic.com/~lynn/2007e.html#43 FBA rant
http://www.garlic.com/~lynn/2007f.html#46 The Perfect Computer - 36 bits?
http://www.garlic.com/~lynn/2007j.html#64 Disc Drives
http://www.garlic.com/~lynn/2007l.html#52 Drums: Memory or Peripheral?
http://www.garlic.com/~lynn/2008k.html#77 Disk drive improvements
http://www.garlic.com/~lynn/2008l.html#60 recent mentions of 40+ yr old technology

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

How to defeat new telemarketing tactic

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: How to defeat new telemarketing tactic
Newsgroups: alt.folklore.computers
Date: Wed, 11 Feb 2009 12:02:24 -0500
Anne & Lynn Wheeler <lynn@garlic.com> writes:
just now, a couple hosts on tv business news show were aghast with the news that chairman of goldman-sachs came out in favor of mark-to-market, exeucutive compensation limitations, doing their own valuations (not relying on the rating agencies), risk managers being able to overrule traders (and other business people), and some number of other tidbits.

re:
http://www.garlic.com/~lynn/2009b.html#78 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009b.html#79 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009b.html#80 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#3 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#4 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#6 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#8 How to defeat new telemarketing tactic

ongoing congressional hearings with CEOs of major banks and investment houses (all? taking TARP). Several made mention that business got messed up when there was both unregulated and regulated parts in the same institution. One specially made reference to repeal of Glass-Steagall was the enabler that allowed both unregulated and regulated parts in the same institution.

PBS program looking at Enron, Worldcom, deregulation, & repeal of Glass-Steagall:
http://www.pbs.org/wgbh/pages/frontline/shows/wallstreet/

recent posts mentioning working with scans of Glass-Steagall hearings
http://www.garlic.com/~lynn/2009b.html#58 OCR scans of old documents
http://www.garlic.com/~lynn/2009b.html#59 As bonuses...why breed greed, when others are in dire need?
http://www.garlic.com/~lynn/2009b.html#60 OCR scans of old documents
http://www.garlic.com/~lynn/2009b.html#73 What can we learn from the meltdown?

older posts mentioning Glass-Steagall:
http://www.garlic.com/~lynn/2008b.html#12 Computer Science Education: Where Are the Software Engineers of Tomorrow?
http://www.garlic.com/~lynn/2008c.html#11 Toyota Sales for 2007 May Surpass GM
http://www.garlic.com/~lynn/2008c.html#87 Toyota Sales for 2007 May Surpass GM
http://www.garlic.com/~lynn/2008d.html#85 Toyota Sales for 2007 May Surpass GM
http://www.garlic.com/~lynn/2008e.html#42 Banks failing to manage IT risk - study
http://www.garlic.com/~lynn/2008e.html#59 independent appraisers
http://www.garlic.com/~lynn/2008f.html#1 independent appraisers
http://www.garlic.com/~lynn/2008f.html#13 independent appraisers
http://www.garlic.com/~lynn/2008f.html#17 independent appraisers
http://www.garlic.com/~lynn/2008f.html#43 independent appraisers
http://www.garlic.com/~lynn/2008f.html#46 independent appraisers
http://www.garlic.com/~lynn/2008f.html#53 independent appraisers
http://www.garlic.com/~lynn/2008f.html#71 Bush - place in history
http://www.garlic.com/~lynn/2008f.html#73 Bush - place in history
http://www.garlic.com/~lynn/2008f.html#75 Bush - place in history
http://www.garlic.com/~lynn/2008f.html#79 Bush - place in history
http://www.garlic.com/~lynn/2008f.html#94 Bush - place in history
http://www.garlic.com/~lynn/2008f.html#96 Bush - place in history
http://www.garlic.com/~lynn/2008f.html#97 Bush - place in history
http://www.garlic.com/~lynn/2008g.html#2 Bush - place in history
http://www.garlic.com/~lynn/2008g.html#4 CDOs subverting Boyd's OODA-loop
http://www.garlic.com/~lynn/2008g.html#16 independent appraisers
http://www.garlic.com/~lynn/2008g.html#44 Fixing finance
http://www.garlic.com/~lynn/2008g.html#51 IBM CEO's remuneration last year ?
http://www.garlic.com/~lynn/2008g.html#52 IBM CEO's remuneration last year ?
http://www.garlic.com/~lynn/2008g.html#57 Credit crisis could cost nearly $1 trillion, IMF predicts
http://www.garlic.com/~lynn/2008g.html#59 Credit crisis could cost nearly $1 trillion, IMF predicts
http://www.garlic.com/~lynn/2008g.html#66 independent appraisers
http://www.garlic.com/~lynn/2008g.html#67 independent appraisers
http://www.garlic.com/~lynn/2008h.html#1 subprime write-down sweepstakes
http://www.garlic.com/~lynn/2008h.html#28 subprime write-down sweepstakes
http://www.garlic.com/~lynn/2008h.html#32 subprime write-down sweepstakes
http://www.garlic.com/~lynn/2008h.html#89 Credit Crisis Timeline
http://www.garlic.com/~lynn/2008j.html#12 To: Graymouse -- Ireland and the EU, What in the H... is all this about?
http://www.garlic.com/~lynn/2008j.html#66 lack of information accuracy
http://www.garlic.com/~lynn/2008k.html#28 dollar coins
http://www.garlic.com/~lynn/2008k.html#36 dollar coins
http://www.garlic.com/~lynn/2008k.html#41 dollar coins
http://www.garlic.com/~lynn/2008l.html#42 dollar coins
http://www.garlic.com/~lynn/2008l.html#67 dollar coins
http://www.garlic.com/~lynn/2008l.html#70 dollar coins
http://www.garlic.com/~lynn/2008m.html#16 Fraud due to stupid failure to test for negative
http://www.garlic.com/~lynn/2008m.html#73 Blinkylights
http://www.garlic.com/~lynn/2008n.html#12 Blinkylights
http://www.garlic.com/~lynn/2008n.html#19 Blinkylights
http://www.garlic.com/~lynn/2008n.html#53 Your thoughts on the following comprehensive bailout plan please
http://www.garlic.com/~lynn/2008n.html#78 Isn't it the Federal Reserve role to oversee the banking system??
http://www.garlic.com/~lynn/2008n.html#99 Blinkylights
http://www.garlic.com/~lynn/2008o.html#12 The human plague
http://www.garlic.com/~lynn/2008o.html#18 Once the dust settles, do you think Milton Friedman's economic theories will be laid to rest
http://www.garlic.com/~lynn/2008o.html#19 What's your view of current global financial / economical situation?
http://www.garlic.com/~lynn/2008o.html#28 Does anyone get the idea that those responsible for containing this finanical crisis are doing too much?
http://www.garlic.com/~lynn/2008o.html#37 The human plague
http://www.garlic.com/~lynn/2008o.html#39 The human plague
http://www.garlic.com/~lynn/2008o.html#43 The human plague
http://www.garlic.com/~lynn/2008o.html#44 The human plague
http://www.garlic.com/~lynn/2008o.html#51 Why are some banks failing, and others aren't?
http://www.garlic.com/~lynn/2008o.html#78 Who murdered the financial system?
http://www.garlic.com/~lynn/2008o.html#80 Can we blame one person for the financial meltdown?
http://www.garlic.com/~lynn/2008o.html#83 Chip-and-pin card reader supply-chain subversion 'has netted millions from British shoppers'
http://www.garlic.com/~lynn/2008p.html#8 Global Melt Down
http://www.garlic.com/~lynn/2008p.html#9 Do you believe a global financial regulation is possible?
http://www.garlic.com/~lynn/2008q.html#26 Blinkenlights
http://www.garlic.com/~lynn/2008q.html#66 Blinkenlights
http://www.garlic.com/~lynn/2008r.html#64 Is This a Different Kind of Financial Crisis?
http://www.garlic.com/~lynn/2008s.html#9 Blind-sided, again. Why?
http://www.garlic.com/~lynn/2008s.html#20 Five great technological revolutions
http://www.garlic.com/~lynn/2008s.html#23 Garbage in, garbage out trampled by Moore's law
http://www.garlic.com/~lynn/2008s.html#35 Is American capitalism and greed to blame for our financial troubles in the US?
http://www.garlic.com/~lynn/2008s.html#55 Is this the story behind the crunchy credit stuff?

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

How to defeat new telemarketing tactic

Refed: **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **
From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: How to defeat new telemarketing tactic
Newsgroups: alt.folklore.computers
Date: Wed, 11 Feb 2009 14:24:02 -0500
Anne & Lynn Wheeler <lynn@garlic.com> writes:
ongoing congressional hearings with CEOs of major banks and investment houses (all? taking TARP). Several made mention that business got messed up when there was both unregulated and regulated parts in the same institution. One specially made reference to repeal of Glass-Steagall was the enabler that allowed both unregulated and regulated parts in the same institution.

re:
http://www.garlic.com/~lynn/2009c.html#4 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#8 How to defeat new telemarketing tactic

yesterday in the congressional hearings with some of the regulators ... it was touched on the TARP funds being "forced" on some number of institutions ... with implied references that some financial institutions had significantly more flagrant behavior than others (and therefor in most of the trouble). Supposedly, a large part of TARP became trying to restore confidence in the infrastructure ... and highlighting the imprudent behavior of the worst institutions would be undermining confidence. Forcing all the major institutions to take TARP ... then obfuscates which were the really bad institutions (sort of spreading the blame around and reducing the failure possibility for the worst offenders)

congressional hearings today ... a couple institutions highlighted the fact that they never indulged in the imprudent behavior and tried to refuse TARP funds. One of them went into some detail about the behavior they weren't involved in and also mentioned repeal of Glass-Steagall (by name) and allowing regulated and unregulated operations in the same instituations.

The other CEOs seemed to just be paying lip service to various practices being imprudent w/o actually admitting to having been heavily involved in several of the practices.

Supposedly somewhere in all this would be the business school article from last spring estimating 1000 executives are responsible for 80% of the current mess and it would go a long way to correcting the situation if the gov. could figure out how they would loose their job.
http://knowledge.wharton.upenn.edu/article.cfm?articleid=1933 (gone 404 and/or requires registration)

several past posts also mentioning the above:
http://www.garlic.com/~lynn/2008g.html#32 independent appraisers
http://www.garlic.com/~lynn/2008g.html#44 Fixing finance
http://www.garlic.com/~lynn/2008g.html#52 IBM CEO's remuneration last year ?
http://www.garlic.com/~lynn/2008g.html#66 independent appraisers
http://www.garlic.com/~lynn/2008h.html#89 Credit Crisis Timeline
http://www.garlic.com/~lynn/2008i.html#4 A Merit based system of reward -Does anybody (or any executive) really want to be judged on merit?
http://www.garlic.com/~lynn/2008i.html#67 Do you have other examples of how people evade taking resp. for risk
http://www.garlic.com/~lynn/2008n.html#37 Success has many fathers, but failure has the US taxpayer
http://www.garlic.com/~lynn/2008n.html#65 Whether, in our financial crisis, the prize for being the biggest liar is
http://www.garlic.com/~lynn/2008n.html#69 Another quiet week in finance
http://www.garlic.com/~lynn/2008n.html#74 Why can't we analyze the risks involved in mortgage-backed securities?
http://www.garlic.com/~lynn/2008n.html#95 Blinkylights
http://www.garlic.com/~lynn/2008o.html#15 Financial Crisis - the result of uncontrolled Innovation?
http://www.garlic.com/~lynn/2008o.html#26 SOX (Sarbanes-Oxley Act), is this really followed and worthful considering current Financial Crisis?
http://www.garlic.com/~lynn/2008o.html#28 Does anyone get the idea that those responsible for containing this finanical crisis are doing too much?
http://www.garlic.com/~lynn/2008o.html#35 The human plague
http://www.garlic.com/~lynn/2008o.html#80 Can we blame one person for the financial meltdown?
http://www.garlic.com/~lynn/2008p.html#8 Global Melt Down
http://www.garlic.com/~lynn/2008p.html#9 Do you believe a global financial regulation is possible?
http://www.garlic.com/~lynn/2008q.html#16 realtors (and GM, too!)
http://www.garlic.com/~lynn/2008q.html#18 A few months of legislative vacuum - is this a good thing?
http://www.garlic.com/~lynn/2008q.html#51 Obama, ACORN, subprimes (Re: Spiders)
http://www.garlic.com/~lynn/2008r.html#10 Blinkylights
http://www.garlic.com/~lynn/2009.html#42 Lets play Blame Game...?
http://www.garlic.com/~lynn/2009.html#50 Greed Is
http://www.garlic.com/~lynn/2009.html#73 CROOKS and NANNIES: what would Boyd do?
http://www.garlic.com/~lynn/2009.html#77 CROOKS and NANNIES: what would Boyd do?
http://www.garlic.com/~lynn/2009.html#79 The Credit Crunch: Why it happened?
http://www.garlic.com/~lynn/2009.html#85 Banks' Demise: Why have the Governments hired the foxes to mend the chicken runs?
http://www.garlic.com/~lynn/2009b.html#1 Are Both The U.S. & UK on the brink of debt disaster?
http://www.garlic.com/~lynn/2009b.html#11 Amid Economic Turbulence, Mainframes Counter IT Cost-Cutting Trend
http://www.garlic.com/~lynn/2009b.html#18 Barbless
http://www.garlic.com/~lynn/2009b.html#25 The recently revealed excesses of John Thain, the former CEO of Merrill Lynch, while the firm was receiving $25 Billion in TARP funds makes me sick
http://www.garlic.com/~lynn/2009b.html#36 A great article was posted in another BI group: "To H*** with Business Intelligence: 40 Percent of Execs Trust Gut"
http://www.garlic.com/~lynn/2009b.html#49 US disaster, debts and bad financial management
http://www.garlic.com/~lynn/2009b.html#53 Credit & Risk Management ... go Simple ?
http://www.garlic.com/~lynn/2009b.html#54 In your opinion, which facts caused the global crise situation?

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

Assembler Question

Refed: **, - **, - **
From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: Assembler Question
Newsgroups: bit.listserv.ibm-main,alt.folklore.computers
Date: Wed, 11 Feb 2009 14:54:32 -0500
Peter.Farley@BROADRIDGE.COM (Farley, Peter x23353) writes:
CDC certainly made processors. DOD used CDC 6600's extensively for "defense" planning in the late 60's and 70's, as they were the fastest numerical/mathematical machines of their era.

re:
http://www.garlic.com/~lynn/2009c.html#9 Assembler Question

there are some old references about cray (and thornton) doing cdc 66000 ... and then Cray left and formed Cray computer ... and Thornton left and formed Network Systems Corporation. NSC was eventually bought by STK ... which was subsequently acquired by SUN.

some past posts referencing my high-speed data transport (HSDT) project where we used some number of NSC HYPERChannel boxes:
http://www.garlic.com/~lynn/subnetwork.html#hsdt

some part of 6600 past thread in a.f.c (with some references):
http://www.garlic.com/~lynn/2007t.html#73 Remembering the CDC 6600

6600 wiki page
https://en.wikipedia.org/wiki/CDC_6600

"Parallel operation in the Control Data 6600" (by Thornton)
http://research.microsoft.com/en-us/um/people/gbell/Computer_Structures__Readings_and_Examples/00000509.htm

scan of Thornton's 6600 document on bitsavers.org:
http://bitsavers.org/pdf/cdc/cyber/books/DesignOfAComputer_CDC6600.pdf

some specific posts mentioning Thornton:
http://www.garlic.com/~lynn/2002i.html#13 CDC6600 - just how powerful a machine was it?
http://www.garlic.com/~lynn/2005k.html#15 3705
http://www.garlic.com/~lynn/2005m.html#49 IBM's mini computers--lack thereof
http://www.garlic.com/~lynn/2005r.html#14 Intel strikes back with a parallel x86 design
http://www.garlic.com/~lynn/2005u.html#22 Channel Distances
http://www.garlic.com/~lynn/2008s.html#37 Is SUN going to become x86'ed ??
http://www.garlic.com/~lynn/2008s.html#38 Welcome to Rain Matrix: The Cloud Computing Network

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

Four decades of a flying giant

Refed: **, - **, - **, - **
From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Four decades of a flying giant
Newsgroups: alt.folklore.computers
Date: Wed, 11 Feb 2009 15:24:44 -0500
Four decades of a flying giant
http://news.bbc.co.uk/2/hi/uk_news/magazine/7880808.stm

spring break '69, I was con'ed into give a 40hr/1 week class for the technical staff at BCS (boeing computer services) ... even tho the official boeing website says that BCS wasn't (official) formed until the following spring.

then they hired me full-time for the summer (of '69) ... basically setting up some amount of cp67 time-sharing system operation.

for the summer, I rented a basement apartment in the house of one of the (747) engineers working in everett (in des moines not far off the seatac runway, the building of the new plant site in everett made a much longer commute for him.

that summer, there was (sales) mockup of the 747 ... and serial #3 was flying the skys of seattle ... getting faa flight certification.

the tour of the mockup included statement that 747s would have a minimum of two jetways at airports ... and frequently four jetways ... because of the number of people onboard. When was the last time you saw four jetways servicing a wide-body??? ... and how frequently are they even using two???

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

Assembler Question

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: Assembler Question
Newsgroups: bit.listserv.ibm-main,alt.folklore.computers
Date: Wed, 11 Feb 2009 17:16:02 -0500
patrick.okeefe@WAMU.NET (Patrick O'Keefe) writes:
I don't know what the "C" was for, but CDC definitely made computers in the 1960s. There was a least a "6000 series". The University of Washington had a CDC 6400 in the late '60s as I recall.

re:
http://www.garlic.com/~lynn/2009c.html#9 Assembler Question
http://www.garlic.com/~lynn/2009c.html#12 Assembler Question

control data corporation ...

there is folklore in the late 60s, about the cdc 6600 at berkeley having a thermal problem a little after 10am tuesday mornings (???) and shutting down. After this happened some number of times ... they basically isolated it to low water pressure to the datacenter cooling system. Eventually identified: 1) tuesday(?) morning was when the grass was being watered and 2) 10am(?) was class break ... with lots of students heading to rest rooms & flushing. The combination was enough to drop water pressue to datacenter cooling.

recent posts in related thread about liqued cooling:
http://www.garlic.com/~lynn/2009b.html#46 Z11 - Water cooling?
http://www.garlic.com/~lynn/2009b.html#77 Z11 - Water cooling?

note ... one of the litigation settlements was SBC (service bureau corporation) going to CDC (there was also some number of employees that filed legal actions about their change employments) ... also mentioned in CDC wiki page
https://en.wikipedia.org/wiki/Control_Data_Corporation

from above:
In the meantime, IBM announced a new version of the famed System/360, the Model 92, which would be just as fast as CDC's 6600. This machine did not exist, but its nonexistence did not stop sales of the 6600 from drying up, while people waited for the release of the Model 92. Norris did not take this tactic, dubbed as fear, uncertainty and doubt (FUD), lying down, and in an antitrust suit against IBM a year later, he won over 600 million dollars. He also picked up IBM's subsidiary Service Bureau Corporation (SBC), which ran computer processing for other corporations on its own computers. SBC fit nicely into CDC's existing service bureau offerings.

... snip ...

during the morph from cp67 to vm370 ... there was first the transition where the cp67 group split off from the science center ... and took over the boston programming center on the 3rd flr of 545 tech sq
http://www.garlic.com/~lynn/subtopic.html#545tech

as the group outgrew the 3rd flr ... they moved out to the (vacant) SBC bldg. in burlington mall.

They were there until a little after future system project being killed
http://www.garlic.com/~lynn/submain.html#futuresys

during the Future System phase ... lots of 370 product activity was neglected (since FS was targeted as complelely replacing 370 ... in much the same way that 360 had obsoleted previous computer generations). With the death of FS ... there was a mad rush to get stuff back into the 370 product lines ... including a crash program for 370-xa. POK made the business case that in order to make the mvs/xa product schedule ... they needed all the people in the vm370 group ... shutdown burlington mall location, move all the people to POK (and kill off the vm370 product).

Endicott eventually made the case to pick up the vm370 product mission (but had to reconstitute a group from scratch).

for additional product drift ... the pre-occupation with Future System ... and neglecting 370 products ... contributed to clone processors in getting market foothold ... slightly interesting, since Future System was largely motivated as a countermeasure to clone controllers.

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

Bletchley Park fires up Big Green-Eyed Monster

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Bletchley Park fires up Big Green-Eyed Monster
Newsgroups: alt.folklore.computers
Date: Thu, 12 Feb 2009 11:43:26 -0500
Bletchley Park fires up Big Green-Eyed Monster
http://www.theregister.co.uk/2009/02/12/iris/

from above ...
The two radar displays are known as the Big Green-Eyed Monster (see pic, above) "because of their size and remarkable retro appearance". They can now be enjoyed "replaying historical recordings of flights in and out of London's Heathrow Airport"

.... snip ...

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

How to defeat new telemarketing tactic

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: How to defeat new telemarketing tactic
Newsgroups: alt.folklore.computers
Date: Thu, 12 Feb 2009 12:39:29 -0500
Anne & Lynn Wheeler <lynn@garlic.com> writes:
congressional hearings today ... a couple institutions highlighted the fact that they never indulged in the imprudent behavior and tried to refuse TARP funds. One of them went into some detail about the behavior they weren't involved in and also mentioned repeal of Glass-Steagall (by name) and allowing regulated and unregulated operations in the same instituations.

reference to working on index to Glass-Steagall hearings
http://www.garlic.com/~lynn/2009b.html#58 OCR scans of old documents
http://www.garlic.com/~lynn/2009b.html#60 OCR scans of old documents
http://www.garlic.com/~lynn/2009b.html#75 OCR scans of old documents

some entries from the index:
Reserve requirements of members banks should be changed so as to be based not solely upon volume of deposits but also upon rapidity of their turn-over, thus checking excessive speculation, say Eugene R. Black and Federal Reserve Board 7434-7435, 7436-7441, 7492-7493, 7495-7516

Brokers loans made by corporations aided to create speculative mania in years prior to 1929, testifies Otto H. Kahn 1010

"Uncontrolled" because even where made indirectly through banks, reserves against such loans were not required and because completely unregulated, said Charles H. E. Scheer 6313


... snip ...

There is some analogy to the current securitization and toxic CDOs, but applied to speculation in the unregulated home market, with the additional factor that the rating agencies were giving triple-A rating to the toxic CDOs and the triple-A rated toxic CDOs were then being gobbled up by all sort of institutions.

The triple-A ratings enormously increased funds for those 1% intro loans that were extremely attractive to speculators in the home market. The triple-A rated toxic CDOs then were involved in all kinds of transaction activity on wallstreet. At the height of the activity a couple yrs ago ... those transactions seemed to correlate with nearly 400% spike in wallstreet bonuses.

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

Bletchley Park fires up Big Green-Eyed Monster

Refed: **, - **, - **
From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: Bletchley Park fires up Big Green-Eyed Monster
Newsgroups: alt.folklore.computers
Date: Thu, 12 Feb 2009 15:33:24 -0500
Al Kossow <aek@spies.com> writes:
Um.. this is still what in-route systems look like today. This particular system was decommissioned LAST YEAR.

If you want some truly depressing reading, take a look at the GAO report on the IBM ATC RS6000 replacement system boondoggle.


re:
http://www.garlic.com/~lynn/2009c.html#15 Bletchley Park fires up Big Green-Eyed Monster

we had participated in review of it in '91 time-frame (before we left), in part because we were involved in a lot of failure-mode & high-availability issues with our (rs/6000) ha/cmp product
http://www.garlic.com/~lynn/subtopic.html#hacmp

part of the issue was many of the people involved seem to lack fundamental understanding about the myriad ways complex systems might fail.

then in the mid-90s (after we left) we were doing some work on financial infrastructure systems ... and we working with a software development company that had a few people that had been involved in the "60s" ATC effort.

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

How to defeat new telemarketing tactic

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: How to defeat new telemarketing tactic
Newsgroups: alt.folklore.computers
Date: Thu, 12 Feb 2009 15:50:46 -0500
Morten Reistad <first@last.name> writes:
I don't think we have to revise it that much. We just need to let the bookeeping match what is actually contractually in place.

re:
http://www.garlic.com/~lynn/2009c.html#16 How to defeat new telemarketing tactic

i.e. the quotes are from the (index to the) 1932-1934 Senate banking hearings (which in large part led to Glass-Steagall legislation ... which was then repealed a decade ago).

there are other items from the 32-34 index that make reference to front companies having been formed for various reasons ... to get-around existing regulations, hide profits &/or losses, and/or mask illegal activity.

one of the analogies in the current environment seemed to be the SIVs to carry stuff off-balance ... a lot of stuff that wouldn't otherwise be allowed

as an aside, there was some study that a lot of the S&L crisis from the 80s was because in the early 80s, the fed. gov. reduced the S&L reserve requirements from 8% to 4%. A lot of S&L executives were then put on the spot deciding where to park that freed-up 4% ... something they had little or no prior experience (and poorly equipped to decide). Wallstreet rose to the occasion with a huge amount of "junk bonds" that were capable of absorbing the suddenly freed up reserves.

misc. past posts with some reference to SIVs.
http://www.garlic.com/~lynn/2007v.html#25 Newsweek article--baby boomers and computers
http://www.garlic.com/~lynn/2008f.html#71 Bush - place in history
http://www.garlic.com/~lynn/2008o.html#51 Why are some banks failing, and others aren't?
http://www.garlic.com/~lynn/2008o.html#52 Why is sub-prime crisis of America called the sub-prime crisis?
http://www.garlic.com/~lynn/2008o.html#62 Would anyone like to draw a diagram of effects or similar for the current "credit crisis"?
http://www.garlic.com/~lynn/2008o.html#65 Can the financial meltdown be used to motivate sustainable development in order to achieve sustainable growth and desired sustainability?
http://www.garlic.com/~lynn/2008o.html#75 In light of the recent financial crisis, did Sarbanes-Oxley fail to work?
http://www.garlic.com/~lynn/2008p.html#8 Global Melt Down
http://www.garlic.com/~lynn/2008p.html#70 Is there any technology that we are severely lacking in the Financial industry?
http://www.garlic.com/~lynn/2008p.html#77 Tell me why the taxpayer should be saving GM and Chrysler (and Ford) managers & shareholders at this stage of the game?
http://www.garlic.com/~lynn/2008q.html#10 realtors (and GM, too!)
http://www.garlic.com/~lynn/2008q.html#19 Collateralized debt obligations (CDOs)
http://www.garlic.com/~lynn/2008q.html#26 Blinkenlights
http://www.garlic.com/~lynn/2008q.html#28 Blinkenlights
http://www.garlic.com/~lynn/2008q.html#57 Blinkenlights
http://www.garlic.com/~lynn/2008s.html#9 Blind-sided, again. Why?
http://www.garlic.com/~lynn/2008s.html#23 Garbage in, garbage out trampled by Moore's law
http://www.garlic.com/~lynn/2008s.html#35 Is American capitalism and greed to blame for our financial troubles in the US?
http://www.garlic.com/~lynn/2008s.html#55 Is this the story behind the crunchy credit stuff?
http://www.garlic.com/~lynn/2009.html#14 What are the challenges in risk analytics post financial crisis?
http://www.garlic.com/~lynn/2009.html#42 Lets play Blame Game...?
http://www.garlic.com/~lynn/2009.html#52 The Credit Crunch: Why it happened?
http://www.garlic.com/~lynn/2009.html#63 CROOKS and NANNIES: what would Boyd do?
http://www.garlic.com/~lynn/2009.html#80 Are reckless risks a natural fallout of "excessive" executive compensation ?
http://www.garlic.com/~lynn/2009.html#84 what was the idea behind Citigroup's splitting up into two different divisions? what does this do for citigroup?
http://www.garlic.com/~lynn/2009b.html#8 Do emperors from the banks have new clothes?
http://www.garlic.com/~lynn/2009b.html#23 BarCampBank - informal finance rantathon in London
http://www.garlic.com/~lynn/2009b.html#37 A great article was posted in another BI group: "To H*** with Business Intelligence: 40 Percent of Execs Trust Gut"
http://www.garlic.com/~lynn/2009b.html#52 What has the Global Financial Crisis taught the Nations, it's Governments and Decision Makers, and how should they apply that knowledge to manage risks differently in the future?
http://www.garlic.com/~lynn/2009b.html#53 Credit & Risk Management ... go Simple ?
http://www.garlic.com/~lynn/2009b.html#54 In your opinion, which facts caused the global crise situation?
http://www.garlic.com/~lynn/2009b.html#73 What can we learn from the meltdown?
http://www.garlic.com/~lynn/2009b.html#79 How to defeat new telemarketing tactic

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

The Evolution of the Internet

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: The Evolution of the Internet
Newsgroups: alt.folklore.computers
Date: Thu, 12 Feb 2009 20:32:50 -0500
The Evolution of the Internet
http://www.pcworld.com/article/159471/the_evolution_of_the_internet.html

from above ..
The origins of the Internet date back nearly 40 years, with the U.S. military's funding of a research network dubbed Arpanet in 1969. Since then, the Internet has undergone more than just a name change. The number of computers connected to the Internet has grown exponentially, while the number of users has risen from a handful of computer scientists to 1.5 billion consumers.

... snip ...

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

Decision Making or Instinctive Steering?

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Decision Making or Instinctive Steering?
Date: Feb 13, 2009
Blog: Corporate Governance
Enron & Worldcom events had been laid at door of deregulation and/or at least not enforcing regulation. PBS website looking at Enron, Worldcom, deregulation, repeal of Glass-Steagall
http://www.pbs.org/wgbh/pages/frontline/shows/wallstreet/

Sarbanes-Oxley was the response to Enron and Worldcom events ... some recent posts in thread at Financial Cryptography blog
http://www.garlic.com/~lynn/2009c.html#0 Audit II: Two more scary words: Sarbanes-Oxley
http://www.garlic.com/~lynn/2009c.html#1 Audit II: Two more scary words: Sarbanes-Oxley

Then comes recent congressional hearings into Madoff ponzi scheme ... with the person that has been trying for a decade to get SEC to do something about it. Repeated theme in the testimony was that crooks and fraud thrive where there is lack of visibility and transparency ... and the major recommendation is to change th culture to provide transparency in all aspects of the operations. There is need for new legislation and regulation, but they will always lag behind the coorks. Much more important is creating institutional and infrastructure transparency.

A couple other tidbits:
could only think of one person at SEC (in some field office, gave their name) that had any understanding of financial transactions ... all the others at the SEC had no understanding (and were mostly lawyers).

only 4% of fraud is turned up by audits ... over 50% from tips; tips are 13 times more effective than audits. SEC has a 1-800 hotline for companies to complain about too vigorous investigation. there is no corresponding "tip" line.

The Madoff ponzi scheme isn't the only one, in the process of turning over detailed documentation to the authorities about a (different) "small" $1b ponzi scheme.

if it wasn't for the current financial crisis, the Madoff ponzi scheme easily could have continued to $100B

None of the clients he advised, had gotten involved with Madoff


... snip ...

Possibly because SEC didn't seem to be doing anything ... and percentage of financial reports with problems increasing (even since Sarbanes-Oxley), GAO started database of increasing public company financial reporting problems:
http://www.gao.gov/special.pubs/gao-06-1079sp//index.html

from above:
The database consists of two files: (1) a file that lists 1,390 restatement announcements that we identified as having been made because of financial reporting fraud and/or accounting errors between July 1, 2002, and September 30, 2005, and (2) a file that lists 396 restatement announcements that we identified as having been made because of financial reporting fraud and/or accounting errors between October 1, 2005, and June 30, 2006.

... snip ...

for other topic drift .. I got blamed for computer conferencing on the internal network in the late 70s & early 80s (internal network was larger than arpanet/internet from just about the beginning until late 85 or early 86). Somewhat as a result, in the mid-80s, a researcher was paid to sit in the back of my office for nine months and take notes on how I communicated ... they also got copies of my incoming and outgoing email ... and logs of all instant messages. This was basis for research report, a Stanford Phd thesis (joint between language and computer AI), and some number of papers ... one of the books was: "Knowledge machines: Language and information in a technological society".

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

IBM tried to kill VM?

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: IBM tried to kill VM?
Newsgroups: alt.folklore.computers
Date: Fri, 13 Feb 2009 15:34:38 -0500
Michael Wojcik <mwojcik@newsguy.com> writes:
The thing to do would be to run the OS/360 image under VM/360 running in Hercules under Windows in a VMWare virtual machine running under Linux on a laptop. Then you'd have a portable 407 emulator, and you could run your payroll from the local Starbuck's.

re:
http://www.garlic.com/~lynn/2009b.html#67 IBM tried to kill VM?
http://www.garlic.com/~lynn/2009b.html#71 IBM tried to kill VM?
http://www.garlic.com/~lynn/2009b.html#74 IBM tried to kill VM?
http://www.garlic.com/~lynn/2009b.html#76 IBM tried to kill VM?

a little x-over from this thread:
http://www.garlic.com/~lynn/2009c.html#15 Bletchley Park fires up Big Green-Eyed Monster
http://www.garlic.com/~lynn/2009c.html#17 Bletchley Park fires up Big Green-Eyed Monster

there was something a decade or so ago about some FAA installation in and/or around Denver that was running some old 360 code under Fundamental Software on sequent (intel) sytems.
http://www.funsoft.com/

on Sequent (intel architecture) systems.

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

Fresh start for lost file formats

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Fresh start for lost file formats
Newsgroups: alt.folklore.computers
Date: Sat, 14 Feb 2009 00:18:27 -0500
Fresh start for lost file formats
http://news.bbc.co.uk/2/hi/technology/7886754.stm

from above:
Britain's National Archive estimates that it holds enough information to fill about 580,000 encyclopaedias in formats that are no longer widely available.

Research by the British Library estimates that the delay caused by accessing and preserving old digital files costs European businesses about GBP2.7bn a year.


... snip ...

I have an acquaintance that is been researching some stuff in early 20th europe. he mentioned that index at (US) national archives is lucky to give him the microfilm reel number ... while his trips to the UK ... the indexes are much more complete ... giving down to the microfilm frame number.

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

Fresh start for lost file formats

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: Fresh start for lost file formats
Newsgroups: alt.folklore.computers
Date: Sat, 14 Feb 2009 11:42:52 -0500
jmfbahciv <jmfbahciv@aol> writes:
How is old census data kept these days?

re:
http://www.garlic.com/~lynn/2009c.html#23 Fresh start for lost file formats

in the mid-90s we did some consulting with Commerce getting ready for 2000 ... they needed to replace their 70s mainframes with newer technology. there was some time constraint ... the movers were already scheduled for april 1997 for the old stuff and the new replacement had to be settled on by that time (and scheduled to roll in)

census prepardness was audited by some number of other agencies ... and we were tasked to handle one of the audits.

part of getting called in was because of the work (early 90s) on ha/cmp
http://www.garlic.com/~lynn/subtopic.html#hacmp
and cluster scaleup
http://www.garlic.com/~lynn/lhwemail.html#medusa
slight topic drift
http://www.garlic.com/~lynn/95.html#13

you can order cdroms/dvds from commerce with with lots of information ... for instance:
http://www.census.gov/epcd/www/g97cdrom.htm

from above:
All of the data from the 1997 Economic Census have now been released on CD-ROM. Disc 1f supersedes discs 1a to 1e. Disc 2d supersedes discs 2a to 2c. Disc 3, ZIP Code Statistics, is a single volume. Data for 1992 and 1987 are available in separate CD-ROMs.

... snip ...

order site:
http://www.census.gov/mp/www/cat/

also lots of PDF for download (somewhat similar to the PDF files that I recently downloaded with the Senate banking hearings from the early 30s)
http://www.census.gov/prod/www/abs/decennial/1940.htm
http://www.census.gov/prod/www/abs/decennial/1920.htm
http://www.census.gov/prod/www/abs/decennial/1890.htm

wiki page for 1890 United States Census:

from above:
The 1890 census was the first to be compiled on a tabulating machine, developed by Herman Hollerith.[1] This introduction of technology reduced the time taken to tabulate the census from eight years for the 1880 census to one year for the 1890 census.[1] The total population of 62,947,714[2] was announced after only six weeks of processing.

... snip ...

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

IBM tried to kill VM?

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: IBM tried to kill VM?
Newsgroups: alt.folklore.computers
Date: Sat, 14 Feb 2009 12:03:09 -0500
Morten Reistad <first@last.name> writes:
Wasn't there a competition about running the largest number of emulations inside each other? You couldn't duplicate a host-client relationship, but you could otherwise run the same emulator twice.

I..e Linux -> Vmware -> windows -> wmware -> BSD is ok


well in the early 70s, science center
http://www.garlic.com/~lynn/subtopic.html#545tech
real 360/67 standard cp67 in virtural 360/67, modified cp67 providing virtual 370 architecutre in virtual 370, modified cp67 that ran on 370 architecture cms

having a standard cp67 and modified cp67 (with support for virtual 370) was a security issue. cambridge system had access by various non-employees/students from various educational institutions in the cambridge area. 370 virtual memory hadn't been announced and was a closely guarded corporate secret.

the above configuration was in regular use a year before the first engineering 370 with virtual memory hardware was operational. in fact, the modified cp67 for running on 370 hardware ... was regression test for that engineering 370. there is even folklore that when it was first ipled/booted, it failed. after some diagnostic ... it turned out that the engineers had (incorrectly) reversed the op-codes for some 370 instructions. as an expediate, the cp67 kernel was quickly modified to use the (incorrect) opcodes.

the other scenario was that in the early part of this decade there were efforts running linux in virtual machines. mainframe hardware had LPARs (dating back to the 80s, hypervisor, pr/sm) ... i.e. logical partitions. This is basically a subset of virtual machine supervisor migrated into the hardware/microcode of the machine ... which allows "partititoning" of the hardware into a small number (couple dozen) of "partitions".

One early test had a "small" LPAR (i.e. limited amount of real machine resources) running a copy of virtual machine supervisor. then in the virtual machine supervisor ... over 40,000 linux virtual machines were created. old post with extracts from vmesa-l touting peak linux virtual machines (41,400):
http://www.garlic.com/~lynn/2000b.html#62 VM (not VMS or Virtual Machine, the IBM sort)

old posts mentioning the work at the science center supporting 370 virtual machines in cp67:
http://www.garlic.com/~lynn/2004p.html#50 IBM 3614 and 3624 ATM's
http://www.garlic.com/~lynn/2005g.html#17 DOS/360: Forty years
http://www.garlic.com/~lynn/2005j.html#50 virtual 360/67 support in cp67
http://www.garlic.com/~lynn/2005p.html#27 What ever happened to Tandem and NonStop OS ?
http://www.garlic.com/~lynn/2006.html#38 Is VIO mandatory?
http://www.garlic.com/~lynn/2006f.html#5 3380-3390 Conversion - DISAPPOINTMENT
http://www.garlic.com/~lynn/2006l.html#21 Virtual Virtualizers
http://www.garlic.com/~lynn/2006m.html#26 Mainframe Limericks
http://www.garlic.com/~lynn/2006q.html#1 Materiel and graft
http://www.garlic.com/~lynn/2006q.html#49 Was FORTRAN buggy?
http://www.garlic.com/~lynn/2006w.html#3 IBM sues maker of Intel-based Mainframe clones
http://www.garlic.com/~lynn/2006x.html#19 The Future of CPUs: What's After Multi-Core?
http://www.garlic.com/~lynn/2007i.html#16 when was MMU virtualization first considered practical?
http://www.garlic.com/~lynn/2007m.html#11 John W. Backus, 82, Fortran developer, dies
http://www.garlic.com/~lynn/2007p.html#74 GETMAIN/FREEMAIN and virtual storage backing up
http://www.garlic.com/~lynn/2007q.html#23 GETMAIN/FREEMAIN and virtual storage backing up
http://www.garlic.com/~lynn/2007r.html#68 High order bit in 31/24 bit address

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

Crypto Craft Knowledge

Refed: **, - **, - **, - **
From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: Crypto Craft Knowledge
Date: Sat, 14 Feb 2009 15:01:10 -0500
Mailing List: cryptograpy
On 02/14/2009 07:18 AM, Ben Laurie wrote:
Actually, in my extensive experience of reviewing security-critical code, this particular error is extremely common. Why does Michael assume that they probably wouldn't? Because he is steeped in the craft knowledge around crypto. But most developers aren't. Most developers don't even have the right mindset for secure coding, let alone correct cryptographic coding. So, why on Earth do we expect them to follow our unwritten rules, many of which are far from obvious even if you understand the crypto?

Note that one of the things that FSTC did in e-check (and I did in x9.59) was specify the fields from existing transport infrastructures that were used for signing.

Part of this was that standard digital signature processes (along with digital certificates if necessary) could represent a one hundred times factor payload bloat ... some past comments about various efforts that tried to apply knee-jerk application of digital signatures to existing financial infrastructures ... resulting in two orders of magnitude payload bloat
http://www.garlic.com/~lynn/subpubkey.html#bloat

One of the side-effects of some of the extreme bloated approaches was that they actually avoided defining end-to-end protocol ... just defined a digitally signed operation for flow over the internet ... which was then stripped off and thrown away at the gateway to the "real" infrastructure.

In any case, as a result, the fields from standard existing financial transaction was specified for encoding ... that was signed ... and then just the digital signature was appended to existing formatted message.

At the receiving end, the fields were re-encoded and verified with the transmitted digital signature.

The issue for FSTC that prompted FSML ... was that at the time, the encoding standards weren't deterministic (i.e the sender and the recipient had to use the same encoding rules ... so the signed encoding and the verified encoding were the same). FSML was then contributed to W3C and incorporated into the XML digital signature standard.

in that sense, neither e-check nor X9.59 required a length field ... they just specified all the encoded transaction fields that were necessary for characterizing a transaction unambiguously.
http://www.garlic.com/~lynn/x959.html#x959

As an aside ... we didn't particularly come at it from the stand-point of crypto craft or even security-critical craft ... we came at it from standpoint of business-critical craft ... where things might fail in a multitude of ways (some possibly having nothing to do with security). slightly related recent post mentioning FAA ATC system:
http://www.garlic.com/~lynn/2009c.html#17 Bletchly Park fires up Big Green-Eyed Monster

Another example was we did "audits" of RAID disk arrays ... looking for design &/or implementation shortcomings that might result in loss of data.

In the "security" context ... we did some audits where we identified (nearly trivial) exploits in end-to-end operation ... and were told that wasn't part of the security protocol.

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

Tracing the third "when" in a "Select"

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: Tracing the third "when" in a "Select"
Newsgroups: comp.lang.rexx
Date: Sat, 14 Feb 2009 15:35:29 -0500
Swifty <steve.j.swift@gmail.com> writes:
I learned my rexx long before the workbench. I come from the era where you left a deck of cards with the operator and collected your output the following day. But of course, the workbench would help, if I ever learned what to do with it.

but that predated rex(x) by decade or so.

old computer history museum reference ...
http://web.archive.org/web/20020506063424/http://computinghistorymuseum.org/ieee/af_forum/read.cfm?forum=10&id=21&thread=7
website has been redone, and i've lost the current URL:
http://www.computerhistory.org/

as above, early rex inception folklore has lots of activity around the world over the internal network ... internal network was larger than the arpanet/internet from just about the beginning until possibly late '85 or early '86 ... misc. past posts mentioning internal network
http://www.garlic.com/~lynn/subnetwork.html#internalnet

i lucked out as undergraduate ... after my 1st intro computer course, the univ. let me have the machine room all to myself on weekends (8am sat until 8am mon) ... so, although i punched all my own cards ... I got to load them and run them myself ... of course i had to do some of the other operator tasks myself ... once a day ... dismantling the card reader and cleaning the brushes and other parts, etc.

I do have some archived old email from the early inception of rex (before it was renamed to rexx for release as product).

for an early exercise to demonstrate power of rex ... i set a task of reimplementation a large assembler application (used for kernel problem determination) ... with objective of spending 1/2 time over 3 months, being able to create a replacement (in rex, instead of assembler) that ran ten times faster and had ten times more function ... misc. past posts
http://www.garlic.com/~lynn/submain.html#dumprx

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

Is the Relational Database Doomed?

Refed: **, - **, - **
From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Is the Relational Database Doomed?
Newsgroups: alt.folklore.computers
Date: Sat, 14 Feb 2009 16:58:40 -0500
Is the Relational Database Doomed?
http://developers.slashdot.org/article.pl?sid=09/02/13/2026227
Is the Relational Database Doomed?
http://www.readwriteweb.com/archives/is_the_relational_database_doomed.php

from above:
Relational databases have been around for over 30 years. During this time, several so-called revolutions flared up briefly, all of which were supposed to spell the end of the relational database. All of those revolutions fizzled out, of course, and none even made a dent in the dominance of relational databases.

... snip ...

some past posts mentioning original relational/sql, System/R at SJR
http://www.garlic.com/~lynn/submain.html#systemr

in some niches ... IMS ... which have been around for over 40 years, continues to find significant market ... wiki ims page
https://en.wikipedia.org/wiki/Information_Management_System

from above:
Today IMS complements DB2, IBM's relational database system, introduced in 1982. In general, IMS performs faster than DB2 for a given task, but requires more programming effort to design and maintain.

... snip ...

above was one of the pro/con arguments between IMS & System/R in the 70s ... in addition to relational indexes "doubling" physical disk space and greatly increasing disk accesses (index processing). changes in the 80s shifted some of the argument, drastic disk price/bit costs in the 80s mitigated the physical disk space requirements ... and significant increases in system real storage size allowed caching a lot of indexes ... mitigated the number of disk accesses.

and old email mentioning that when Jim left SJR for Tandem ... he told them to use me for consultant:
http://www.garlic.com/~lynn/2007.html#email801016
in this post
http://www.garlic.com/~lynn/2007.html#1

one of the current genre is "in-storage" relational databases ... leveraging further increases in real storage sizes ... that claim ten times the performance of traditional relational/RDBMS, even where all the data is "fully" cached ... some recent references to use in telco and financial industry:
http://www.garlic.com/~lynn/2007m.html#47 Capacity and Relational Database
http://www.garlic.com/~lynn/2007n.html#36 How to flush data most efficiently from memory to disk when db checkpoint?
http://www.garlic.com/~lynn/2007p.html#0 The use of "script" for program
http://www.garlic.com/~lynn/2008q.html#71 What do you think is holding up the use of cellphone-initiated micro payments in the U.S.?
http://www.garlic.com/~lynn/2008r.html#20 TOPS-10

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

How to defeat new telemarketing tactic

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: How to defeat new telemarketing tactic
Newsgroups: alt.folklore.computers
Date: Sat, 14 Feb 2009 18:40:21 -0500
Anne & Lynn Wheeler <lynn@garlic.com> writes:
just now, a couple hosts on tv business news show were aghast with the news that chairman of goldman-sachs came out in favor of mark-to-market, exeucutive compensation limitations, doing their own valuations (not relying on the rating agencies), risk managers being able to overrule traders (and other business people), and some number of other tidbits.

re:
http://www.garlic.com/~lynn/2009c.html#4 How to defeat new telemarketing tactic

A year ago, some of the hosts on tv business news shows were agonizing over how were the wall street firms were going to continue to make the big profits and what were going to be the new schemes (that they would come up to keep the big profits <and bonuses> flowing).

this was when things were starting to go bust and losses were starting to be declared. The TV "hosts" seemed to think it was a good thing that various people (at wallstreet firms) had come up with mechanisms to bypass all the risk management provisions, in order to temporarily greatly increase revenue (and bonuses) at the cost of nearly taking down the financial infrastructure and destroying the contry's economy.

The current discussion about bonuses (which spiked nearly 400% during the height of the activities), by some of these (TV) hosts, is that apparently (for some), once having earned the really, really big bonuses for their part in nearly taking down the financial infrastructure and destroying the country's economy ... that they deserve these big bonuses for life.

There may be some corollary in the recent Washington Post series about CDSs at AIG ... and people raising alarms about the practice ... and being discounted since the people raising the alarms had lower compensation than the (enormous) compensation of the people activitly involved in the CDSs.

business school article from a year ago estimating that approx. 1000 executives are responsible for 80% of the current crisis ... and that it would go a long way to correcting the situation if the gov. could figure out how they could loose their jobs.
http://knowledge.wharton.upenn.edu/article.cfm?articleid=1933 (gone 404 and/or requires registration)

past article mentioning how some on wallstreat were able to bypass the risk management limitations:

How Wall Street Lied to Its Computers
http://bits.blogs.nytimes.com/2008/09/18/how-wall-streets-quants-lied-to-their-computers//

misc. past posts mentioning article listing annual wallstreet bonuses in the earlier part of this decade:
http://www.garlic.com/~lynn/2008f.html#76 Bush - place in history
http://www.garlic.com/~lynn/2008g.html#52 IBM CEO's remuneration last year ?
http://www.garlic.com/~lynn/2008g.html#66 independent appraisers
http://www.garlic.com/~lynn/2008h.html#42 The Return of Ada
http://www.garlic.com/~lynn/2008i.html#4 A Merit based system of reward -Does anybody (or any executive) really want to be judged on merit?
http://www.garlic.com/~lynn/2008k.html#11 dollar coins
http://www.garlic.com/~lynn/2008m.html#26 Fraud due to stupid failure to test for negative
http://www.garlic.com/~lynn/2008m.html#83 Fraud due to stupid failure to test for negative
http://www.garlic.com/~lynn/2008n.html#52 Technology and the current crisis
http://www.garlic.com/~lynn/2008n.html#53 Your thoughts on the following comprehensive bailout plan please
http://www.garlic.com/~lynn/2008n.html#56 VMware Chief Says the OS Is History
http://www.garlic.com/~lynn/2008n.html#69 Another quiet week in finance
http://www.garlic.com/~lynn/2008n.html#74 Why can't we analyze the risks involved in mortgage-backed securities?
http://www.garlic.com/~lynn/2008o.html#18 Once the dust settles, do you think Milton Friedman's economic theories will be laid to rest
http://www.garlic.com/~lynn/2008o.html#26 SOX (Sarbanes-Oxley Act), is this really followed and worthful considering current Financial Crisis?
http://www.garlic.com/~lynn/2008o.html#28 Does anyone get the idea that those responsible for containing this finanical crisis are doing too much?
http://www.garlic.com/~lynn/2008o.html#31 The human plague
http://www.garlic.com/~lynn/2008o.html#32 How much is 700 Billion Dollars??
http://www.garlic.com/~lynn/2008p.html#8 Global Melt Down
http://www.garlic.com/~lynn/2008p.html#60 Did sub-prime cause the financial mess we are in?
http://www.garlic.com/~lynn/2008q.html#66 Blinkenlights
http://www.garlic.com/~lynn/2008r.html#61 The vanishing CEO bonus
http://www.garlic.com/~lynn/2008r.html#64 Is This a Different Kind of Financial Crisis?
http://www.garlic.com/~lynn/2008s.html#32 How Should The Government Spend The $700 Billion?
http://www.garlic.com/~lynn/2008s.html#33 Garbage in, garbage out trampled by Moore's law
http://www.garlic.com/~lynn/2008s.html#35 Is American capitalism and greed to blame for our financial troubles in the US?
http://www.garlic.com/~lynn/2008s.html#41 Executive pay: time for a trim?
http://www.garlic.com/~lynn/2008s.html#59 Garbage in, garbage out trampled by Moore's law
http://www.garlic.com/~lynn/2008s.html#70 Garbage in, garbage out trampled by Moore's law
http://www.garlic.com/~lynn/2009.html#73 CROOKS and NANNIES: what would Boyd do?
http://www.garlic.com/~lynn/2009.html#80 Are reckless risks a natural fallout of "excessive" executive compensation ?
http://www.garlic.com/~lynn/2009b.html#25 The recently revealed excesses of John Thain, the former CEO of Merrill Lynch, while the firm was receiving $25 Billion in TARP funds makes me sick
http://www.garlic.com/~lynn/2009b.html#41 The subject is authoritarian tendencies in corporate management, and how they are related to political culture
http://www.garlic.com/~lynn/2009b.html#49 US disaster, debts and bad financial management
http://www.garlic.com/~lynn/2009b.html#57 Credit & Risk Management ... go Simple ?
http://www.garlic.com/~lynn/2009b.html#59 As bonuses...why breed greed, when others are in dire need?

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

How to defeat new telemarketing tactic

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: How to defeat new telemarketing tactic
Newsgroups: alt.folklore.computers
Date: Sun, 15 Feb 2009 11:20:04 -0500
jmfbahciv <jmfbahciv@aol> writes:
It's beginning to sound like having cognitive dissonance is Politically Correct. Fiscal responsibility is now fighting with National Security for the lowest priority.

re:
http://www.garlic.com/~lynn/2009c.html#4 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#28 How to defeat new telemarketing tactic

nearly taking down the financial infrastructure and destroying the country's economy is a national security issue. in the 90s there was presidential directive for infrastructure protection ... and meetings on the subject by different infrastructure areas ... a major area was financial infrastructure. Some of the gov. agencies that have been charged with traditional national security ... seemed to have tough time coming to grips with these other kinds of threats. There has been some recent news articles about statements from DNI about the subject (highlighting gov. agencies that have had long tradition of focusing on specific kinds of threats adapting to the changing landscape) ... for even more topic drift
http://www.garlic.com/~lynn/2009c.html#25 Crypto Craft Knowledge

some of the external threats have explicitly mentioned taking down the country's economy as a major objective ... but our own people seemed to have beat them to it (are we our own worst enemy?).

The Glass-Steagall hearings seemed to reinforce that a lot of this was a combination of deregulation and lack of enforcement of whatever regulation there was. Somewhat the PBS site about Enron, Worldcom, deregulation, repeal of Glass-Steagall
http://www.pbs.org/wgbh/pages/frontline/shows/wallstreet/

and these recent posts about Enron & Worldcom being result of deregulation ... which repeal of Glass-Steagall was just a part ... then the passing of Sarbanes-Oxley ... which appeared to have little or no affect:
http://www.garlic.com/~lynn/2009c.html#0 Audit II: Two more scary words: Sarbanes-Oxley
http://www.garlic.com/~lynn/2009c.html#1 Audit II: Two more scary words: Sarbanes-Oxley

... and with regard to the tv business news hosts agonizing over how were the wall street firms going to continue to make the big profits ... the person that tried for a decade to get the SEC to do something Madoff ... highlighted consistent, high returns as a major indicator of likely fraud.

Mark-to-market has a lot of cognitive dissonance. The forces that traditionally tout no regulation and "efficiency of the market" ... repeatedly state that the market is the best regulator of itself. Mark-to-market is valuating assets at whatever the market is willing to pay.

However, transparency, visibility, and regulation are needed to have confidence in the market and be willing to deal. When that starts to come crashing down ... when it is learned that major assets were never worth their triple-A ratings (and the people involved knew they weren't worth the triple-A ratings) ... there is huge loss of trust and confidence ... market starts to assume the worst. Efficient working of the market ... only operates within reasonable transparency, visibility, regulation, trust boundaries. When there is loss of transparency, visibility, regulation, trust, and confidence ... the mythical "efficiency of the market" breaks down.

This is what happened when the muni-bond market froze up ... with loss of trust & confidence in ratings ... it became difficult to value the bonds based on the traditional ratings ... and so nobody wanted to invest in something that they didn't know how to value.

this is discussion we had lost summer about Buffett stepping in to "insure" muni-bonds after market froze because loss of confidence and trust in (all) ratings (not just those for toxic CDOs):
http://www.garlic.com/~lynn/2008j.html#9 dollar coins
http://www.garlic.com/~lynn/2008j.html#20 dollar coins

The analogy is after the ugly home market pimple/boil/bubble burst, home prices start to decline. Numerous market forces can result in something of a snowball effect ... resulting in home prices deflating to less than where the bubble started.

The "efficiency of the market" theory is that the market is the best indicator of asset value ... and therefor "mark-to-market" is valuing all assets at whatever compareable assets sold for (this is also found contesting home property tax assessment ... or trying to set home selling price ... find the recent comparables).

When there is significant loss of confidence and trust ... "efficiency of the market" starts to break down, which can then snowball. Large amount of assets are known to not be worth their triple-A ratings ... but the issue is how much less?. Nobody really knows ... best guess is maybe 80 cents on the dollar ... but in the middle of the fear, uncertainty and doubt (FUD), there are only a few sales at 22 cents on the dollar. "mark-to-market" then means that everybody has to value all their compareable assets at 22 cents on the dollar. Public companies then have to make quarterly financial statements ... including their asset valuation ... in-spite of this GAO reference
http://www.gao.gov/special.pubs/gao-06-1079sp//index.html

where the percentage of public traded companies with financials that are restated had been around 3 percent ... but in this decade (after Sarbanes-Oxley) it grew to around 10 percent.
The database consists of two files: (1) a file that lists 1,390 restatement announcements that we identified as having been made because of financial reporting fraud and/or accounting errors between July 1, 2002, and September 30, 2005, and (2) a file that lists 396 restatement announcements that we identified as having been made because of financial reporting fraud and/or accounting errors between October 1, 2005, and June 30, 2006.

... snip ...

So all the advocates of no-regulation and "efficiency of the market" ... are for "mark-to-market" when things are going well ... but then it all falls apart ... then there is FUD and low-ball offers are made ... which results in more FUD (because of all the write-downs and losses being reported). The FUD and loss of trust/confidence snowballs.

Somewhat akin to Madoff congressional testimony about criminals and fraud thrives where there is lack of visibility and transparency ... a modified "mark-to-market" ... is companies transparently disclose all the factors & formulas that are used for valuing assets. Again there is some analogy when contesting home tax assessment.

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

I need magic incantation for a power conditioner

Refed: **, - **, - **, - **, - **, - **, - **
From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: I need magic incantation for a power conditioner
Newsgroups: alt.folklore.computers
Date: Sun, 15 Feb 2009 12:01:19 -0500
jmfbahciv <jmfbahciv@aol> writes:
How much do you want to bet? We went through 3 modems before I figured out that banning the vacuum from that room "fixed" the hardware problems.

I no longer remember the model of modem. It was whatever DEC gave us to use at home.


as the internal network and off-site dial-in (home use and "on-the-road") became more prevalent ... corporation instituted requirement that all transmission had to be encrypted.

in the mid-80s, there was claim that the internal network had over half of all the link encryptors in the world.

starting with PCs (big expansion in home terminal program and off-site dial-in), corporation developed its own 2400 baud encrypting modem (as well as dial-back programs for home-terminal ... i.e. you registered your home telephone number, dail-in, did some handshake ... hung-up and the system dialed you back at your registered number).

one of the (infamous) stories was a high-level executive (who many yrs earlier was EE graudate) was provide with one of the encrypting modem. It wasn't working ... so one of the tests was to use his tongue to test for any current. Unfortunately, the line happened to ring at that moment. There was subsequently a edict that all modems from the corporation (whether the purely internal encrypting modems) or anything sold to customer ... had to have "rj" contacts sufficiently recessed that people couldn't touch them with their tongue (which also makes it quite difficult to remove a cord once plugged in)

misc. past posts mentioning the incident
http://www.garlic.com/~lynn/2002d.html#11 Security Proportional to Risk (was: IBM Mainframe at home)
http://www.garlic.com/~lynn/2003e.html#68 The Pentium 4 - RIP?
http://www.garlic.com/~lynn/2004j.html#26 Losing colonies
http://www.garlic.com/~lynn/2004q.html#57 high speed network, cross-over from sci.crypt
http://www.garlic.com/~lynn/2005r.html#12 Intel strikes back with a parallel x86 design
http://www.garlic.com/~lynn/2006o.html#48 sorting

pictures posted in the past of series of terminals on my home desk in the late 70s thru mid-80s (miniterm, 3101, pc)
http://www.garlic.com/~lynn/2008m.html#38 Baudot code direct to computers?
http://www.garlic.com/~lynn/2008m.html#51 Baudot code direct to computers?
http://www.garlic.com/~lynn/2008n.html#51 Baudot code direct to computers?

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

H5: Security Begins at the Application and Ends at the Mind

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: H5: Security Begins at the Application and Ends at the Mind
Date: Feb 15, 2009
Blog: Financial Cryptography
re:
https://financialcryptography.com/mt/archives/001153.html

for the fun of it, something from yesterday in the cryptography mailing list
http://www.garlic.com/~lynn/2009c.html#25 Crypto Craft Knowledge

that mentions several "end-to-end" audit/issues ... including doing some reviews where trivial exploits were found ... and being told that wasn't part of the security protocol.

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

How to defeat new telemarketing tactic

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: How to defeat new telemarketing tactic
Newsgroups: alt.folklore.computers
Date: Sun, 15 Feb 2009 14:52:19 -0500
jmfbahciv <jmfbahciv@aol> writes:
It's beginning to sound like having cognitive dissonance is Politically Correct. Fiscal responsibility is now fighting with National Security for the lowest priority.

re:
http://www.garlic.com/~lynn/2009c.html#28 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#29 How to defeat new telemarketing tactic

the Glass-Steagall hearings put a big part of the blame for the "frenzy" in the unregulated '20s stock market and the crash of '29 on "broker loans".
http://www.garlic.com/~lynn/2009c.html#16 How to defeat new telemarketing tactic

the equivalent today is a combination of things ... with the lynchpin being the (nearly automatic, paid-for) triple-A ratings on the toxic CDOs.

lending was moving from regulated institutions using deposits to (many times unregulated) institutions using securitization as source of funds.

securitization had been used two decades ago in the S&L crisis ... but w/o the drastic downside effect of the current situation ... where the triple-A ratings significantly increased the institutions that would buy toxic CDOs and therefor the amount of money that the lenders had available for lending.

The (nearly) automatic triple-A ratings on the toxic CDOs also eliminated lender motivation to pay attention to loan quality ... enabling the huge speculation spike in the home market (basically treating home market like the 20s unregulated stock market).

basically there have been lots of different, individual hot spots of greed and corruption ... the (automatic) triple-A ratings on toxic CDOs was significant enabler allowing all the individual greed and corruption hot spots to combine together into economic firestorm (and creating a systemic risk of financial infrastructure meltdown)

there is the home market speculation that corresponds to the 20s unregulated stock market speculation. however, this is coupled to the triple-A rated toxic CDOs ... which then is coupled with all the institutions that dealt in the triple-A rated toxic CDOs.

There is the trust and confidence problems created by the rating agencies giving triple-A ratings to toxic CDOs ... creating investment FUD in all the instruments that have been traditionally based on such ratings.

Then there are all the institutions buying triple-A rated toxic CDOs playing long/short mismatch ... which has been known for centuries to take down institutions (independent of the issue of all the heavy leveraging activity and whether or not the toxic CDOs actually deserved triple-A ratings). long/short mismatch discussion from 2007
http://www.forbes.com/2007/11/13/citigroup-suntrust-siv-ent-fin-cx_bh_1113hamiltonmatch.html
decade old FED article
http://www.frbsf.org/economic-research/publications/economic-letter/2000/september/short-term-international-borrowing-and-financial-fragility/

so a lot of the triple-A rated toxic CDOs are being carried off-balance (claim was that citi still had $1.1trillion ... even after winning the write-down sweepsteaks). bringing them back on to the balance sheet ... and "mark-to-market" ... could mean valuing at 22 cents on the dollar (for citi, declaring an additional $800billion loss). this contributes to several claims that many of these institutions are insolvent ... recent references:
http://www.garlic.com/~lynn/2009b.html#1 Are Both The U.S. & UK on the brink of debt disaster?
http://www.garlic.com/~lynn/2009b.html#8 Do emperors from the banks have new clothes?
http://www.garlic.com/~lynn/2009b.html#18 Barbless
http://www.garlic.com/~lynn/2009b.html#20 what was the idea behind Citigroup's splitting up into two different divisions? what does this do for citigroup?

Part of the current angst is that lots of the assets have been carried off-balance ... and so valuing the assets weren't an issue ... being forced to bring back onto the balance sheet in the middle of a significant downturn ... where the magnitude of the losses would swamp the institution ... results in motivation to find alternatives.

misc. past posts mentioning long/short mismatch and/or SIV discussions:
http://www.garlic.com/~lynn/2008o.html#37 The human plague
http://www.garlic.com/~lynn/2008o.html#39 The human plague
http://www.garlic.com/~lynn/2008o.html#42 The human plague
http://www.garlic.com/~lynn/2008o.html#43 The human plague
http://www.garlic.com/~lynn/2008o.html#51 Why are some banks failing, and others aren't?
http://www.garlic.com/~lynn/2008o.html#52 Why is sub-prime crisis of America called the sub-prime crisis?
http://www.garlic.com/~lynn/2008o.html#62 Would anyone like to draw a diagram of effects or similar for the current "credit crisis"?
http://www.garlic.com/~lynn/2008o.html#65 Can the financial meltdown be used to motivate sustainable development in order to achieve sustainable growth and desired sustainability?
http://www.garlic.com/~lynn/2008o.html#75 In light of the recent financial crisis, did Sarbanes-Oxley fail to work?
http://www.garlic.com/~lynn/2008o.html#78 Who murdered the financial system?
http://www.garlic.com/~lynn/2008o.html#80 Can we blame one person for the financial meltdown?
http://www.garlic.com/~lynn/2008o.html#82 Greenspan testimony and securization
http://www.garlic.com/~lynn/2008p.html#8 Global Melt Down
http://www.garlic.com/~lynn/2008p.html#47 In Modeling Risk, the Human Factor Was Left Out
http://www.garlic.com/~lynn/2008p.html#60 Did sub-prime cause the financial mess we are in?
http://www.garlic.com/~lynn/2008p.html#70 Is there any technology that we are severely lacking in the Financial industry?
http://www.garlic.com/~lynn/2008p.html#77 Tell me why the taxpayer should be saving GM and Chrysler (and Ford) managers & shareholders at this stage of the game?
http://www.garlic.com/~lynn/2008q.html#10 realtors (and GM, too!)
http://www.garlic.com/~lynn/2008q.html#19 Collateralized debt obligations (CDOs)
http://www.garlic.com/~lynn/2008q.html#20 How is Subprime crisis impacting other Industries?
http://www.garlic.com/~lynn/2008q.html#26 Blinkenlights
http://www.garlic.com/~lynn/2008s.html#9 Blind-sided, again. Why?
http://www.garlic.com/~lynn/2008s.html#23 Garbage in, garbage out trampled by Moore's law
http://www.garlic.com/~lynn/2008s.html#35 Is American capitalism and greed to blame for our financial troubles in the US?
http://www.garlic.com/~lynn/2008s.html#55 Is this the story behind the crunchy credit stuff?
http://www.garlic.com/~lynn/2008s.html#59 Garbage in, garbage out trampled by Moore's law
http://www.garlic.com/~lynn/2008s.html#70 Garbage in, garbage out trampled by Moore's law
http://www.garlic.com/~lynn/2009.html#14 What are the challenges in risk analytics post financial crisis?
http://www.garlic.com/~lynn/2009.html#42 Lets play Blame Game...?
http://www.garlic.com/~lynn/2009.html#52 The Credit Crunch: Why it happened?
http://www.garlic.com/~lynn/2009.html#63 CROOKS and NANNIES: what would Boyd do?
http://www.garlic.com/~lynn/2009.html#80 Are reckless risks a natural fallout of "excessive" executive compensation ?
http://www.garlic.com/~lynn/2009.html#84 what was the idea behind Citigroup's splitting up into two different divisions? what does this do for citigroup?
http://www.garlic.com/~lynn/2009b.html#8 Do emperors from the banks have new clothes?
http://www.garlic.com/~lynn/2009b.html#23 BarCampBank - informal finance rantathon in London
http://www.garlic.com/~lynn/2009b.html#37 A great article was posted in another BI group: "To H*** with Business Intelligence: 40 Percent of Execs Trust Gut"
http://www.garlic.com/~lynn/2009b.html#52 What has the Global Financial Crisis taught the Nations, it's Governments and Decision Makers, and how should they apply that knowledge to manage risks differently in the future?
http://www.garlic.com/~lynn/2009b.html#53 Credit & Risk Management ... go Simple ?
http://www.garlic.com/~lynn/2009b.html#54 In your opinion, which facts caused the global crise situation?
http://www.garlic.com/~lynn/2009b.html#73 What can we learn from the meltdown?

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

H5: Security Begins at the Application and Ends at the Mind

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: H5: Security Begins at the Application and Ends at the Mind
Date: Feb 15, 2009
Blog: Financial Cryptography
re:
http://www.garlic.com/~lynn/2009c.html#31 H5: Security Begins at the Application and Ends at the Mind

Having been involved in business critical dataprocessing for a couple decades ... clients typically cared whether there was any kind of fault/failure ... and only secondarily (if at all) cared about how/what.

Only focusing on some moderately trivial portion of end-to-end problems ... seemed frequently to be part of "hype" promoting some specific (possibly security) solution or market.

The start of the crypto craft thread was somewhat about limited breadth of knowledge to recognize all possible ways things might fail (but still limited to crypto or security specific issues).

In business critical dataprocessing ... an issue was ALL possible kinds of faults or failures. ALL somewhat translates into "end-to-end" when approaching the subject from a communication or networking perspective.

I've mentioned several times in the past ... we had been asked to consult with small client/server startup that wanted to do payments on their server and they had this technology they had invented called SSL they wanted to use.

As part of that effort, we had to go around and look at several of these new things calling themselves Certification Authorities. One of the insights was that many of the principles in these early efforts had come from mathematical or technical background. Most admitted that they were surprised to learn that only about 5% of a CA is technical ... 95% of a CA is bookkeeping, administration, filing, ... traditional business operation.

Mathematical provable is a really small part of the overall operation and ... raising that issue may even sometimes be misdirection.

For a slightly different perspective on Financial dataprocessing
http://www.garlic.com/~lynn/2008p.html#27 Father of Financial Dataprocessing

old email regarding when he was leaving SJR for Tandem and turning over a lot of his responsibilities to me:
http://www.garlic.com/~lynn/2007.html#email801016
in this post
http://www.garlic.com/~lynn/2007.html#1

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

Is the Relational Database Doomed?

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: Is the Relational Database Doomed?
Newsgroups: alt.folklore.computers
Date: Mon, 16 Feb 2009 00:56:23 -0500
Chris Barts <chbarts+usenet@gmail.com> writes:
Object-oriented databases (that is, navigational databases with deep language support) aren't going away, though, especially since XML and other structured file formats support them extremely well. You can dump a navigational database directly to an XML file and send it to anything else in your enterprise because everything speaks XML now. Relational databases don't have anything comparable: Each RDBMS has its own file format that cannot be used by anything else, even other RDBMSes.

The big advantage of RDBMSes now is that they have ACID semantics (the notion of atomic transactions plus some other guff) which XML-based navigational databases don't currently have to my knowledge. This is contingent, however, and the more useful of those semantics could be added to XML databases at any time.

There is also rumbling among some theorists that SQL isn't relational because it has NULLs and is therefore a three-value logic system, as opposed to a two-value logic system. (Look up "closed-world assumption" and the concept of the excluded middle.) I doubt they'll ever make anything worth having, though.

The anti-SQL rantings are found on DBDebunk.com <http://www.dbdebunk.com/> and are just as vitrolic as they ought to be from people ranting against an 'industry standard' (vide the 36-bit partisans vs. the VAX, the VM partisans against MVS, the *nix partisans against Windows, and so on). A particularly good list of SQL's failings can be found here:
http://www.dbdebunk.com/page/page/970398.htm


re:
http://www.garlic.com/~lynn/2009c.html#27 Is the Relational Database Doomed?

besides refs on working on original relational/sql System/R and email relating to Jim departing SJR for tandem ... there is this reference to celebrating Jim last May (which included things like ACID semantics):
http://www.garlic.com/~lynn/2008p.html#27 Father of Financial Dataprocessing

About the same time I was doing work on System/R ... I was also doing some work on possibly considered more navigational.

As sort of implied in the past pro/con discussions between IMS and System/R in the 70s ... relational basically abstracted away the direct record pointers in IMS with keys. This increase the overhead in various ways ... but simplified administration and changes.

The navigational work was attempted to do something similar but preserve the ability to have arbitrary relationships between things (any-to-any) that is available in IMS with direct pointers (but creating a relationship paradigm that eliminated the IMS-like direct pointers).

While RDBMS index doubled the physical disk storage requirements (for a lot of things that would be represented by simple tables in RDBMS) ... this other abstraction resulting in indexes sometimes increasing the disk storage by 5-10 times. I've done several versions starting from scratch over the years. It is what I use for managing the rfc index
http://www.garlic.com/~lynn/rfcietff.htm

and the merged taxonomy & glossaries
http://www.garlic.com/~lynn/index.html#glosnote

as to the MVS v. VM ... all the System/R work was done on vm370 and then there was technology transfer eventually from SJR to Endicott for SQL/DS. In this post referencing a meeting with several people in 1992
http://www.garlic.com/~lynn/95.html#13

one of the people mentioned, claimed to have handled much of the technology transfer from Endicott to STL for DB2 (on MVS).

and as in the previous post ... misc. past posts mentioning work on original relational/sql implementation, System/R
http://www.garlic.com/~lynn/submain.html#systemr

GML
http://www.garlic.com/~lynn/submain.html#sgml

was invented at the science center in 1969
http://www.garlic.com/~lynn/subtopic.html#545tech

and this recent post traces some of the GML evoluation thru sgml, html, xml, etc.
http://www.garlic.com/~lynn/2008p.html#67 Web Security hans't moved since 1995

and of course, the science center was also responsible for original virtual machine system, cp67 ... which then morphed into vm370 (used for all the relational/sql system/r work).

For other topic drift, this is past post with reference to nulls & 3-value articles ... references a Date article from 1992 that basically illustrates that SQL's 3-value logic creates a problem because results aren't what most people would normally expect.
http://www.garlic.com/~lynn/2003g.html#40 How to cope with missing values - NULLS?

It also shows an alternative 3-value logic used for this other implementation ... with the claim that it results in much more intuitive obvious results (eliminating most of the problem that crops up with NULLs in SQL).

misc other posts mentioning 3-value logic:
http://www.garlic.com/~lynn/2004l.html#75 NULL
http://www.garlic.com/~lynn/2005.html#15 Amusing acronym
http://www.garlic.com/~lynn/2005i.html#35 The Worth of Verisign's Brand
http://www.garlic.com/~lynn/2005m.html#19 Implementation of boolean types
http://www.garlic.com/~lynn/2005t.html#23 So what's null then if it's not nothing?
http://www.garlic.com/~lynn/2005t.html#33 What ever happened to Tandem and NonStop OS ?
http://www.garlic.com/~lynn/2006e.html#34 CJ Date on Missing Information
http://www.garlic.com/~lynn/2006q.html#22 3 value logic. Why is SQL so special?
http://www.garlic.com/~lynn/2006s.html#27 Why these original FORTRAN quirks?
http://www.garlic.com/~lynn/2006x.html#21 "The Elements of Programming Style"
http://www.garlic.com/~lynn/2006x.html#30 "The Elements of Programming Style"
http://www.garlic.com/~lynn/2006y.html#1 "The Elements of Programming Style"

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

Why do IBMers think disks are 'Direct Access'?

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: Why do IBMers think disks are 'Direct Access'?
Newsgroups: alt.folklore.computers
Date: Mon, 16 Feb 2009 11:00:20 -0500
Chris Barts <chbarts+usenet@gmail.com> writes:
As I understand, the standard IBM jargon for disks (hard disks and, presumably, floppies as well) is DASD, meaning 'Direct Access Storage Device'. This squares with the IBM tradition of referring to all devices for retaining data as 'storage' (vide the expansion of MVS to 'Multiple Virtual Storage', where 'Virtual Storage' refers to what the rest of the computing world calls 'virtual memory') which is, in many ways, more logical than calling some kinds of storage 'memory' and other kinds 'disk', especially as the industry trends to DRAM backed up with NVRAM instead of spinning platters. (A more useful distinction, therefore, is between volatile and non-volatile storage. A second cut distinction between relational and hierarchical might be worthwhile.)

So, given IBM's somewhat more logical slant on jargon, why do they call disks 'Direct Access'? They aren't, any more than tapes or card decks are, they're just faster at seeking than tapes tend to be. NVRAM (Flash now, core in the Heroic Age) is direct access and displays markedly different properties than disks or tape especially as CPUs enter the BIPS (Billions of Instructions Per Second) range and increasingly have to wait on external hardware. Disk seek times simply can't compete with bus speed, making Flash-based computers relatively snappy compared to their HDD-based siblings.


DASD was for generic class of devices ... originated at a time when disks weren't the dominant form (and before floppies were invented), drums were even used in early systems for processor stored programs.
http://www-03.ibm.com/ibm/history/exhibits/650/650_ch1.html

from above:
Some of the early design of components and the development of the concepts which led to the IBM 650 Magnetic Drum Data Processing Machine began in the late-1940s

December 8, 1954

The first 650 delivered to a customer is installed in the controllers department of the John Hancock Mutual Life Insurance Company in Boston. (The company also becomes the first customer to acquire two 650s, when a second system is installed in April 1955.)

September 14, 1956

650 RAMAC (which combines the IBM 650 Magnetic Drum Data Processing Machine and a series of IBM 355 disk memory units) and the 305 RAMAC are announced. The 650 is demonstrated at IBM's Glendale Laboratory in Endicott.


... snip ...

... and then there was the 2321 data cell ... some datacell detail:
http://members.optushome.com.au/intaretro/2321DCD.htm
http://www.columbia.edu/cu/computinghistory/datacell.html

floppies were invented as mechanism for loading microcode load into the 3830 DASD controller ... it was also used for loading microcode in several 370s.
http://www.cnn.com/TECH/computing/9907/08/1971.idg/

virtual memory was available as standard for 360/67 ... which was leveraged by the cp67 virtual machine system. prior to availability of 360/67, the science center had done virtual memory hardare modifications for 360/40 and created cp40. various past posts mentioning science center
http://www.garlic.com/~lynn/subtopic.html#545tech

some in depth discussion of this period in Melinda's history paper:
http://www.leeandmelindavarian.com/Melinda/
http://www.leeandmelindavarian.com/Melinda/

when virtual memory was going to be announced for 370 ... my fading memory was that there was some kind of worry about patent/copyright issue related to "virtual memory" ... which prompted the use of the label "virtual storage".

lots of past posts related to dasd
http://www.garlic.com/~lynn/submain.html#dasd

also past posts mentioning allowing to play disk engineer in blds. 14&15
http://www.garlic.com/~lynn/subtopic.html#disk

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

How to defeat new telemarketing tactic

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: How to defeat new telemarketing tactic
Newsgroups: alt.folklore.computers
Date: Mon, 16 Feb 2009 12:02:51 -0500
Anne & Lynn Wheeler <lynn@garlic.com> writes:
The Glass-Steagall hearings seemed to reinforce that a lot of this was a combination of deregulation and lack of enforcement of whatever regulation there was. Somewhat the PBS site about Enron, Worldcom, deregulation, repeal of Glass-Steagall
http://www.pbs.org/wgbh/pages/frontline/shows/wallstreet/


re:
http://www.garlic.com/~lynn/2009c.html#29 How to defeat new telemarketing tactic

I've essentially finished cleaning the OCR'ed scan of Glass-Steagall hearing index and have a HTML version (haven't recreated all the indented hierarchical structure which was lost with OCR ... but have the 3000+ first level headings, HTML file is over 3mbytes). I also have the page number references identified.

The page numbers are references to 26 volumes/files ... that in aggregate are nearly 1gbyte (PDF).

I've got a shell script that maps the page number range in each file ... so for a given page number ... it invokes a PDF reader for the specific file. In addition, it is possible to pass the page number (on command line) to the "evince" PDF reader ... and it brings up that specific page (evince page number support is matching the original document page number in the PDF).

Still missing is being able to click on a specific page number (in the HTML index file) and display that specific PDF page (from the appropriate file).

re:
http://www.garlic.com/~lynn/2009b.html#58 OCR scans of old documents
http://www.garlic.com/~lynn/2009b.html#60 OCR scans of old documents
http://www.garlic.com/~lynn/2009b.html#75 OCR scans of old documents

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

The 20th Century of Central Banking is over

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: The 20th Century of Central Banking is over
Date: Feb 16, 2009
Blog: Financial Cryptography
re:
https://financialcryptography.com/mt/archives/001150.html

In the mid and late 90s ... there was some expectation that telcos would take over the payment industry.

The scenario was that telcos had highly efficient technology developed for call record processing. They were supposedly going to leverage this high performance technology to take-over the micropayment arena and then leverage those volumes to take-over the rest of the payment business.

Some number of telcos made forays into this arena ... basically payment charges showing up as line-items in phone bill. It then seemed to fall apart and the telcos participation seem to disappear.

Afterwards the explanation was that telcos hadn't the infrastructure to handle the financial risk (and defaults). Telcos had a fairly high default rate on bills ... but were able to absorb a lot of it ... since it was for services ... but didn't actually represent "real money". The (defaulted) payments actually represented money that telcos provided to merchants.

Its been a decade and some number of proposed cellphone payment activities seemed to have lost that institutional experience (this is analogous to lost institutional memory about difficulty in supporting PC serial port devices ... between the time home banking moved from dedicated dialup to the internet ... and the attempt to introduce PC serial port smartcard readers in the consumer market).

In last couple yrs ... there have been announcements by some of the payment processing infrastructures about installing some of the higher-efficient database technologies (that had evolved for telco call-records). This presumably should help further drive down processing overhead costs and possibly help enable new generation move into micropayments.

In parallel with this is the significant fees that are part of the current infrastructure. A couple yrs ago there was an article that the payment transaction fees represented nearly 40% of the bottom line for US institutions (although less than 10% of the bottom line for EU institutions). For some operations like C-stores ... payment transaction fees are claimed to be their largest expense. The existing fee structure is motivation behind some amount of search for alternatives.

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

People to Blame for the Financial Crisis

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: People to Blame for the Financial Crisis
Newsgroups: alt.folklore.computers
Date: Mon, 16 Feb 2009 15:04:35 -0500
re:
http://www.garlic.com/~lynn/2009c.html#29 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#32 How to defeat new telemarketing tactic

#1 ...

People to Blame for the Financial Crisis; Angelo Mozilo
http://www.time.com/time/specials/packages/article/0,28804,1877351_1877350,00.html

from above:
Countrywide wasn't the first to offer exotic mortgages to borrowers with a questionable ability to repay them. In its all-out embrace of such sales, however, it did legitimize the notion that practically any adult could handle a big fat mortgage.

... snip ...

and these mortgages were then packaged up as toxic CDOs, got triple-A ratings and sold off (providing them with the funds to repeat the process). The lenders no longer had to care about quality of the loan. A no-documentation, no-down, introductory 1% interest-only payment ARM became extremely attractive to speculators (planning on flipping before the rate reset) ... since the 1% carrying cost was much less than home inflation in many parts of the country.

& #2 ...

25 People to Blame for the Financial Crisis; Phil Gramm
http://content.time.com/time/specials/packages/article/0,28804,1877351_1877350_1877330,00.html

from above:
He played a leading role in writing and pushing through Congress the 1999 repeal of the Depression-era Glass-Steagall Act, which separated commercial banks from Wall Street. He also inserted a key provision into the 2000 Commodity Futures Modernization Act that exempted over-the-counter derivatives like credit-default swaps from regulation by the Commodity Futures Trading Commission. Credit-default swaps took down AIG, which has cost the U.S. $150 billion thus far.

... snip ...

there have been other articles about the president signed these bills, but i've also seen references to the bills in congress having sufficient backing that they were "veto-proof" (which would have made any veto a hollow gesture)

PBS program looking at wall street influence, enron & worldcom (also laid at the door of deregulation), as well as repeal of Glass-Steagall
http://www.pbs.org/wgbh/pages/frontline/shows/wallstreet/

...

#3 has Alan Greespan citing his super low (FED) interest rates in the early 2000s ... implication that they were involved in the mortgage crisis. However, the FED interest rates affected mortgage rates when lenders were banks and used deposits as source of funds. Securitization and triple-A rated toxic CDOs changed all that ... loans (even by institutions that weren't traditional regulated) could be made totally decoupled from FED interest rates.

business school article from a year ago that estimated 1000 executives are responsible for 80% of the current mess and it would go a long way to fixing the problem if the gov could figure out how they could loose their jobs:
http://knowledge.wharton.upenn.edu/article.cfm?articleid=1933 (gone 404 and/or requires registration)

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

'WHO IS RESPONSIBLE FOR THE GLOBAL MELTDOWN'

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: 'WHO IS RESPONSIBLE FOR THE GLOBAL MELTDOWN'
Date: Feb 16, 2009
Blog: Business Analytics
time article:

People to Blame for the Financial Crisis
http://www.time.com/time/specials/packages/article/0,28804,1877351_1877350,00.htm

some of my comments on the article:
http://www.garlic.com/~lynn/2009c.html#38
related recent comments
http://www.garlic.com/~lynn/2009c.html#29
http://www.garlic.com/~lynn/2009c.html#32

article from a year ago that estimated 1000 executives are responsible for 80% of the current mess and it would go a long way towards fixing the problem if the gov. could figure out how they could loose their job
http://knowledge.wharton.upenn.edu/article.cfm?articleid=1933 (gone 404 and/or requires registration)

The business school article points to securitization ... another article on the same theme:

The Man Who Beat The Shorts
http://www.forbes.com/forbes/2008/1117/114.html

from above:
Watsa's only sin was in being a little too early with his prediction that the era of credit expansion would end badly. This is what he said in Fairfax's 2003 annual report: "It seems to us that securitization eliminates the incentive for the originator of [a] loan to be credit sensitive. Prior to securitization, the dealer would be very concerned about who was given credit to buy an automobile. With securitization, the dealer (almost) does not care."

... snip ...

This is also somewhat the theme for the #1 on the time list; basically lender being able to almost immediately unload whatever loan w/o regard to quality. No-documentation, no-down payment, 1% interest only payment ARMs became quite attractive to speculators (1% carrying cost much lower than home inflation in many parts of the country) ... basically being able to treat home market like the 20s unregulated stock market. The analogy is the "broker loans" as cause of speculative mania in the 20s stock market (from Glass-Steagall hearings in the early 30s ... the testimony was scanned at boston public library last fall and are available online).

Note that the above references to securitization are before the congressional hearings late last fall on rating agencies and the ratings on the mortgage/loan backed securities (toxic CDOs). These instruments had been used two decades ago during the S&L crisis w/o the current disastrous effects.

The recent testimony in congressional hearings said that both the toxic CDO issuers/sellers and the rating agencies knew that the toxic CDOs weren't worth the triple-A ratings ... but that the rating agencies were being paid to give them triple-A ratings. The claim was that the seeds for this happened in the early 70s when the rating agencies changed from the buyers paying for the ratings to the sellers paying for the ratings (mis-aligning the business process and creating opening for conflict of interest). The triple-A ratings on the toxic CDOs, dramatically increased the institutions that would buy the instruments ... and also dramatically increased the money for lenders (using securitization as source of funds).

Many of the institutions buying the toxic CDOs were playing long/short mismatch ... which has been known for centuries to take down institutions. Risk management comments that Lehman and Bear-Stearns had marginally chance of surviving playing long/short mismatch (independent of the heavy leveraging and whether or not the toxic CDOs were worth the triple-A ratings).
http://www.forbes.com/2007/11/13/citigroup-suntrust-siv-ent-fin-cx_bh_1113hamiltonmatch.html
and fed article from decade ago
http://www.frbsf.org/economic-research/publications/economic-letter/2000/september/short-term-international-borrowing-and-financial-fragility/

another article from last yr

The crash of 2008: A mathematician's view
http://www.eurekalert.org/pub_releases/2008-12/w-tco120808.php

from above:
Markets need regulation to stay stable. We have had thirty years of financial deregulation. Now we are seeing chickens coming home to roost. This is the key argument of Professor Nick Bingham, a mathematician at Imperial College London, in an article published today in Significance, the magazine of the Royal Statistical Society.

... snip ...

Traditionally, loans and mortages were by highly regulated financial institutions using deposits as source of funds (with quite a bit of safety and soundness).

Securitization provided a source of funds for other kinds of institutions to get heavily into the lending business (and side-effect eliminated motivation of the loan originating institution to pay any attention to loan quality). Being able to get triple-A rating on the toxic CDO (securitized instruments) enormously increased the availability of funds via this mechanism.

There had have been lots of greed & corruption hospots ... but combination of deregulation and lax/lack of regulation enforcement allowed the hotspots to combine together into an economic firestorm.

Lots of institutions were buying these triple-A rated toxic CDOs. Repeal of Glass-Steagall ... eliminated separating the safety and soundness of regulated financial institutions from the extremely risky unregulated investment banking institutions (which have been heavily involved in buying these triple-A rated toxic CDOs).

related comments about SEC regulation activity ... including the Madoff case as well as with respect to rating agencies:
http://www.garlic.com/~lynn/2009c.html#0 Audit II: Two more scary words: Sarbanes-Oxley
http://www.garlic.com/~lynn/2009c.html#1 Audit II: Two more scary words: Sarbanes-Oxley

in addition to #2 on the times list as part of repeal of Glass-Steagall and the commodity futures modernization act ... open unregulated trading of CDS ... it also enabled ENRON

Gramm and the 'Enron Loophole'
http://www.nytimes.com/2008/11/17/business/17grammside.html

from above:
Enron was a major contributor to Mr. Gramm's political campaigns, and Mr. Gramm's wife, Wendy, served on the Enron board, which she joined after stepping down as chairwoman of the Commodity Futures Trading Commission.

... snip ...

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

Assembler Question

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: Assembler Question
Newsgroups: bit.listserv.ibm-main,alt.folklore.computers
Date: Mon, 16 Feb 2009 17:52:02 -0500
BillF@MAINSTAR.COM (Bill Fairchild) writes:
I should have checked Wiki_knows_all first.


https://en.wikipedia.org/wiki/BUNCH

But there was a connection between BUNCH and the French Bull. From that wiki article: "In 1991 Honeywell's computer division was sold to the French computer company Groupe Bull."


re:
http://www.garlic.com/~lynn/2009c.html#9 Assembler Question
http://www.garlic.com/~lynn/2009c.html#12 Assembler Question
http://www.garlic.com/~lynn/2009c.html#14 Assembler Question

note that in that time-frame, (at least) both Wang and Bull contracted for rs/6000 to sell under their own label.

Also the Bull/Honeywell (world) services in Billerica was one of the early HA/CMP installations ... misc. past posts mentioning ha/cmp
http://www.garlic.com/~lynn/subtopic.html#hacmp

current web site:
http://www.bull.us/bull_services/
http://www.bull.us/services/servicesindex.html

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

Why do IBMers think disks are 'Direct Access'?

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: Why do IBMers think disks are 'Direct Access'?
Newsgroups: alt.folklore.computers
Date: Mon, 16 Feb 2009 19:13:31 -0500
Anne & Lynn Wheeler <lynn@garlic.com> writes:
when virtual memory was going to be announced for 370 ... my fading memory was that there was some kind of worry about patent/copyright issue related to "virtual memory" ... which prompted the use of the label "virtual storage".

re:
http://www.garlic.com/~lynn/2009c.html#35 Why do IBMers think disks are 'Direct Access'?

double checking 360/67 functional characteristics ... copy found here:
http://bitsavers.org/pdf/ibm/360/funcChar/

... it says "virtual storage" (as opposed to "virtual memory") ... however it also mentions that the ("official") operating system for 360/67 was tss/360 ... which had a "one-level store" architecture ... i.e. rather than file read/writes ... there was mapping & unmapping of virtual storage objects.

360/67 supported both 24bit & 32bit virtual addressing modes. when virtual storage was added to 370 ... only 24bit addressing mode was available ... 31bit didn't show up until 370-xa & 3081.

however, there still is something in the back of my mind about not using "virtual memory" references because of some external reason.

wiki 370 reference:
https://en.wikipedia.org/wiki/System/370

above wiki page references some of melinda's history of science center, virtual memory, and virtual machine history.
http://www.leeandmelindavarian.com/Melinda/
http://www.leeandmelindavarian.com/Melinda/

the above makes reference to decision to exclude virtual storage from s/370 line ... however, it actually took quite a bit of effort to add virtual storage support to the high end 370 models.

i've periodically made reference to one point in time where the 165 engineers said that the virtual storage announcement was going to have to slip by (another) six months unless they could eliminate several features that were in the original 370 virtual storage architecture.

various resolution meetings eventually resulted in decision to drop the features and get back the additional six months in the schedule. this required that all the other processors (that had their support for some time) to go back and remove the dropped features.

this also put vm370/cms somewhat in a bind ... since the implementation had been done to take advantage of the additional 370 virtual memory architecture features ... and dropping the features ... required retrofitting vm370/cms with something of a kludge implementation.

misc. past posts mentioning 165 problems potentially slipping virtual storage announcement schedule unless some of the 370 virtual memory architecture features could be dropped.
http://www.garlic.com/~lynn/2003g.html#12 Page Table - per OS/Process
http://www.garlic.com/~lynn/2006i.html#23 Virtual memory implementation in S/370
http://www.garlic.com/~lynn/2006j.html#41 virtual memory
http://www.garlic.com/~lynn/2006l.html#22 Virtual Virtualizers
http://www.garlic.com/~lynn/2006m.html#26 Mainframe Limericks
http://www.garlic.com/~lynn/2006s.html#61 Is the teaching of non-reentrant HLASM coding practices ever defensible?
http://www.garlic.com/~lynn/2006t.html#1 Is the teaching of non-reentrant HLASM coding practices ever
http://www.garlic.com/~lynn/2006y.html#26 moving on
http://www.garlic.com/~lynn/2007d.html#32 Running OS/390 on z9 BC
http://www.garlic.com/~lynn/2007f.html#14 more shared segment archeology
http://www.garlic.com/~lynn/2007f.html#16 more shared segment archeology
http://www.garlic.com/~lynn/2007j.html#43 z/VM usability
http://www.garlic.com/~lynn/2007k.html#28 IBM 360 Model 20 Questions
http://www.garlic.com/~lynn/2007n.html#35 IBM obsoleting mainframe hardware
http://www.garlic.com/~lynn/2007p.html#70 GETMAIN/FREEMAIN and virtual storage backing up
http://www.garlic.com/~lynn/2007p.html#74 GETMAIN/FREEMAIN and virtual storage backing up
http://www.garlic.com/~lynn/2008r.html#34 What if the computers went back to the '70s too?

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

How to defeat new telemarketing tactic

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: How to defeat new telemarketing tactic
Newsgroups: alt.folklore.computers
Date: Mon, 16 Feb 2009 19:53:58 -0500
Walter Bushell <proto@panix.com> writes:
Unfortunately most of the people causing the crash were trying to keep their jobs or their company. The way the system was set up everyone was forced to the dark side to stay in business.

It's like a football game without refs. Each side has to break the rules which forces the other team too.

It should have come as no surprise to anyone that the invisible hand of the marketplace cannot keep the game honest or sustainable.


re:
http://www.garlic.com/~lynn/2009c.html#28 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#29 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#32 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#36 How to defeat new telemarketing tactic

article mentioned some number of times:

The crash of 2008: A mathematician's view
http://www.eurekalert.org/pub_releases/2008-12/w-tco120808.php

from above:
Markets need regulation to stay stable. We have had thirty years of financial deregulation. Now we are seeing chickens coming home to roost. This is the key argument of Professor Nick Bingham, a mathematician at Imperial College London, in an article published today in Significance, the magazine of the Royal Statistical Society.

... snip ...

this is related to the #2 entry in the time article about who to blame
http://www.garlic.com/~lynn/2009c.html#38 People to Blame for the Financial Crisis

but as noted ... deregulation wasn't just the two items mentioned in the above ... Enron and Worldcom situations are also blamed on deregulation; PBS webpages mentioning wall street influence, Enron, Worldcom, deregulation, repeal of Glass-Steagall, etc
http://www.pbs.org/wgbh/pages/frontline/shows/wallstreet/

related
http://www.garlic.com/~lynn/2009c.html#39 'WHO IS RESPONSIBLE FOR THE GLOBAL MELTDOWN'

past posts mentioning the above article:
http://www.garlic.com/~lynn/2008r.html#58 Blinkenlights
http://www.garlic.com/~lynn/2008r.html#64 Is This a Different Kind of Financial Crisis?
http://www.garlic.com/~lynn/2008r.html#67 What is securitization and why are people wary of it ?
http://www.garlic.com/~lynn/2008s.html#5 Greed - If greed was the cause of the global meltdown then why does the biz community appoint those who so easily succumb to its temptations?
http://www.garlic.com/~lynn/2008s.html#9 Blind-sided, again. Why?
http://www.garlic.com/~lynn/2008s.html#18 What next? from where would the Banks be hit?
http://www.garlic.com/~lynn/2008s.html#20 Five great technological revolutions
http://www.garlic.com/~lynn/2008s.html#23 Garbage in, garbage out trampled by Moore's law
http://www.garlic.com/~lynn/2008s.html#35 Is American capitalism and greed to blame for our financial troubles in the US?
http://www.garlic.com/~lynn/2009.html#15 What are the challenges in risk analytics post financial crisis?
http://www.garlic.com/~lynn/2009.html#52 The Credit Crunch: Why it happened?
http://www.garlic.com/~lynn/2009b.html#37 A great article was posted in another BI group: "To H*** with Business Intelligence: 40 Percent of Execs Trust Gut"
http://www.garlic.com/~lynn/2009b.html#53 Credit & Risk Management ... go Simple ?
http://www.garlic.com/~lynn/2009b.html#54 In your opinion, which facts caused the global crise situation?
http://www.garlic.com/~lynn/2009b.html#80 How to defeat new telemarketing tactic

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

Business process re-engineering

Refed: **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **
From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Business process re-engineering
Newsgroups: alt.folklore.computers
Date: Mon, 16 Feb 2009 20:56:01 -0500
Business process re-engineering
http://www.economist.com/business/management/displayStory.cfm?story_id=13130298&source=hptextfeature

from above:
The idea of re-engineering was first propounded in an article in Harvard Business Review in July‚ÄďAugust 1990 by Michael Hammer, then a professor of computer science at MIT. The method was popularly referred to as business process re-engineering (BPR), and was based on an examination of the way information technology was affecting business processes.

... snip ...

somewhat related past posts mentioning billions spent on (unsuccesful) financial processing re-engineering efforts during the 90s on straight-through processing to eliminate overnight batch window
http://www.garlic.com/~lynn/2006s.html#40 Ranking of non-IBM mainframe builders?
http://www.garlic.com/~lynn/2007e.html#31 Quote from comp.object
http://www.garlic.com/~lynn/2007l.html#15 John W. Backus, 82, Fortran developer, dies
http://www.garlic.com/~lynn/2007m.html#36 Future of System/360 architecture?
http://www.garlic.com/~lynn/2007u.html#19 Distributed Computing
http://www.garlic.com/~lynn/2007u.html#21 Distributed Computing
http://www.garlic.com/~lynn/2007u.html#37 folklore indeed
http://www.garlic.com/~lynn/2007u.html#44 Distributed Computing
http://www.garlic.com/~lynn/2007u.html#61 folklore indeed
http://www.garlic.com/~lynn/2007v.html#19 Education ranking
http://www.garlic.com/~lynn/2007v.html#27 folklore indeed
http://www.garlic.com/~lynn/2007v.html#64 folklore indeed
http://www.garlic.com/~lynn/2007v.html#69 Controlling COBOL DDs named SYSOUT
http://www.garlic.com/~lynn/2007v.html#72 whats the world going to do when all the baby boomers retire
http://www.garlic.com/~lynn/2007v.html#81 Tap and faucet and spellcheckers
http://www.garlic.com/~lynn/2008b.html#3 on-demand computing
http://www.garlic.com/~lynn/2008b.html#74 Too much change opens up financial fault lines
http://www.garlic.com/~lynn/2008d.html#30 Toyota Sales for 2007 May Surpass GM
http://www.garlic.com/~lynn/2008d.html#31 Toyota Sales for 2007 May Surpass GM
http://www.garlic.com/~lynn/2008d.html#73 Price of CPU seconds
http://www.garlic.com/~lynn/2008d.html#87 Berkeley researcher describes parallel path
http://www.garlic.com/~lynn/2008d.html#89 Berkeley researcher describes parallel path
http://www.garlic.com/~lynn/2008g.html#55 performance of hardware dynamic scheduling
http://www.garlic.com/~lynn/2008h.html#50 Microsoft versus Digital Equipment Corporation
http://www.garlic.com/~lynn/2008h.html#56 Long running Batch programs keep IMS databases offline
http://www.garlic.com/~lynn/2008p.html#26 What is the biggest IT myth of all time?
http://www.garlic.com/~lynn/2008p.html#30 Automation is still not accepted to streamline the business processes... why organizations are not accepting newer technolgies?
http://www.garlic.com/~lynn/2008r.html#7 If you had a massively parallel computing architecture, what unsolved problem would you set out to solve?
http://www.garlic.com/~lynn/2009.html#87 Cleaning Up Spaghetti Code vs. Getting Rid of It

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

How to defeat new telemarketing tactic

Refed: **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **
From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: How to defeat new telemarketing tactic
Newsgroups: alt.folklore.computers
Date: Tue, 17 Feb 2009 09:03:05 -0500
jmfbahciv <jmfbahciv@aol> writes:
But those entities weren't caused by deregulation as I define the term. What Congress did was split up the regulation with rules that said the two, or more, parts of the splits could not talk to each other. That was actually more regulation, rather than less.

re:
http://www.garlic.com/~lynn/2009c.html#42 How to defeat new telemarketing tactic

part of the business was allowed to be split off ... where it was subject to significantly reduced regulation ... for that part of the business, since it was now subject to significantly less regulation ... it was considered deregulation.

and pbs info on the subject:
http://www.pbs.org/wgbh/pages/frontline/shows/wallstreet/

when it all hit the fan ... sarbanes-oxley was suppose to compensate. however, this put a lot of new responsibility on SEC ... which had been going thru a period of eliminating regulation along with a much more lax attitude regarding enforcement of what regulations there were.

as per past discussion of madoff case and gao database of public company filings ... SEC appeared to be doing little
http://www.garlic.com/~lynn/2009c.html#0 Audit II: Two more scary words: Sarbanes-Oxley
http://www.garlic.com/~lynn/2009c.html#1 Audit II: Two more scary words: Sarbanes-Oxley

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

How to defeat new telemarketing tactic

Refed: **, - **, - **, - **, - **, - **, - **, - **, - **
From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: How to defeat new telemarketing tactic
Newsgroups: alt.folklore.computers
Date: Tue, 17 Feb 2009 23:03:36 -0500
jmfbahciv <jmfbahciv@aol> writes:
But those entities weren't caused by deregulation as I define the term. What Congress did was split up the regulation with rules that said the two, or more, parts of the splits could not talk to each other. That was actually more regulation, rather than less.

article from the period:

Energy deregulation: Is it friend or enemy?
http://www.usatoday.com/money/covers/2002-05-16-enron-california-hearings.htm

from above:
Outraged Western senators claim their constituents were bilked out of billions of dollars by Enron and other energy traders who sold power in 2000 and 2001 into newly deregulated Western markets. In documents released May 7 by FERC, Enron lawyers outline manipulation by the firm's West Coast traders during the California power crisis to drive up prices.

... snip ...
http://www.garlic.com/~lynn/2009c.html#42 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#44 How to defeat new telemarketing tactic

article also mentions attempts to blame the way some of the dergulation laws left loop holes ... and, effectively, you shouldn't blame crooks if they take advantage of the system.

something analogous was discussed in some linkedin threads about could their be global regulation to address the problems behind the current crisis.

one of the points raised in the congressional hearings into the rating agencies last fall ... is that regulation is significantly harder when the business interests are misaligned ... this was reference to ratings agencies in the early 70s changing from buyers paying for the ratings to the sellers/issuers paying for the ratings (nominally the ratings are considered that the buyers relied upon the ratings ... but with the change to sellers paying for the ratings, the rating agencies interest became aligned with the sellers, not the buyers).

misc. past posts mentioning misaligned business processes:
http://www.garlic.com/~lynn/2008p.html#9 Do you believe a global financial regulation is possible?
http://www.garlic.com/~lynn/2009.html#42 Lets play Blame Game...?
http://www.garlic.com/~lynn/2009.html#57 CROOKS and NANNIES: what would Boyd do?
http://www.garlic.com/~lynn/2009b.html#37 A great article was posted in another BI group: "To H*** with Business Intelligence: 40 Percent of Execs Trust Gut"
http://www.garlic.com/~lynn/2009b.html#38 A great article was posted in another BI group: "To H*** with Business Intelligence: 40 Percent of Execs Trust Gut"
http://www.garlic.com/~lynn/2009b.html#49 US disaster, debts and bad financial management
http://www.garlic.com/~lynn/2009b.html#53 Credit & Risk Management ... go Simple ?
http://www.garlic.com/~lynn/2009b.html#73 What can we learn from the meltdown?
http://www.garlic.com/~lynn/2009b.html#78 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#1 Audit II: Two more scary words: Sarbanes-Oxley

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

How to defeat new telemarketing tactic

Refed: **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **
From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: How to defeat new telemarketing tactic
Newsgroups: alt.folklore.computers
Date: Thu, 19 Feb 2009 09:21:29 -0500
re:
http://www.garlic.com/~lynn/2009c.html#29 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#36 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#42 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#45 How to defeat new telemarketing tactic

and
http://www.garlic.com/~lynn/2009c.html#38 People to Blame for the Financial Crisis

note that in addition to gramm appearing as #2 on the times list for the current crisis ... being behind repeal of Glass-Steagall as well as commodity futures modernization ... which opened unregulated trading of CDS ... the commodity futures modernization act was involved in the collapse of enron.

Gramm and the 'Enron Loophole'
http://www.nytimes.com/2008/11/17/business/17grammside.html

from above:
Enron was a major contributor to Mr. Gramm's political campaigns, and Mr. Gramm's wife, Wendy, served on the Enron board, which she joined after stepping down as chairwoman of the Commodity Futures Trading Commission.

... snip ...

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

Using a PC as DASD

Refed: **, - **, - **, - **
From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: Using a PC as DASD
Newsgroups: bit.listserv.ibm-main,alt.folklore.computers
Date: Thu, 19 Feb 2009 13:07:57 -0500
Bruce McKnight <mcknight-b-a@excite.com> writes:
This is kind of an odd question, so please bear with me.

Last year we consolidated all of our LPARs onto a single z9. We have a z800 that is disconnected from everything and completely powered down. Once it rolls off the books, we'll probably roll it out to the dumpster (Of course we know we have to be environmentally conscious and recycle it appropriately. I was speaking figuratively.)

It seems a shame to waste the hardware. I'd like to use it for a Linux proof-of-concept project. We could easily reconnect it to power and our network but DASD is a problem. We converted our array to FICON but the z800 only has ESCON.

My question is this: Does anyone know of a way to use a fast PC with a big hard drive as mainframe DASD. I might be able to swing funds for an ESCON card for the PC and whatever software may be required ... within reason. The PC can run Linux or Windows.

I'm just gathering feasibility info at this point. If I can't get a PC to act as a DASD server, the whole idea is moot.

By the way, for anyone from IBM or any software company, we would definitely adhere to any software licensing and fee obligations.


NCAR was the orignal NAS/SAN (networked storage) ... they basically used HYPERChannel as the infrastructure (for both command flow as well as data flow). They had some number of "supercomputers" and a 4381 running MVS. MVS was treated as disk controller ... the supercomputers (cray & others) would send requests to MVS via hyperchannel. MVS would load channel programs into HYPERChannel A515 device adapter (a515 basically emulated mainframe channel to which disk controllers like 3880s were attached) ... and return the channel program "handle" to the supercomputer. The supercomputer then would invoke the (mainframe) channel program in the A515 to transfer the data (to/from disk).

there was then some work in the Hippi switch standards bodies to allow similar nas/san functionality in the Hippi switch (3rd party transfers) with IPI disks (i.e. "server" sets up hippi switch and ipi disk transfers ... which then transfers data directly to/from disks).

Similar capability was worked on in the FCS switch standards activity ... for a little drift, basically FICON is effectively a somewhat proprietary extension of FCS (fiber channel standard) ... there were lots of heated discussions with mainframe channel engineers in the FCS standards committe & on FCS standards mailing list.

in some ways it can be viewed that the original NCAR capability (over the years) has evolved into nas/san.

wiki page ...
https://en.wikipedia.org/wiki/Storage_area_network

try search engines for nas, san freeware ...

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

How to defeat new telemarketing tactic

Refed: **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **
From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: How to defeat new telemarketing tactic
Newsgroups: alt.folklore.computers
Date: Thu, 19 Feb 2009 13:55:27 -0500
re
http://www.garlic.com/~lynn/2009c.html#46 How to defeat new telemarketing tactic
and
http://www.garlic.com/~lynn/2009c.html#38 People to Blame for the Financial Crisis

some more about commodity futures trading commission, commodity futures modernization act, exempting enron energy-swap operation from government supervision (also AIG's & other CDS from gov. supervision)

Phil Gramm's Enron Favor
http://www.villagevoice.com/2002-01-15/news/phil-gramm-s-enron-favor/

from above:
A few days after she got the ball rolling on the exemption, Wendy Gramm resigned from the commission. Enron soon appointed her to its board of directors, where she served on the audit committee, which oversees the inner financial workings of the corporation. For this, the company paid her between $915,000 and $1.85 million in stocks and dividends, as much as $50,000 in annual salary, and $176,000 in attendance fees, according to a report by Public Citizen, a group that has relentlessly tracked Enron, which in turn has called the report unfair.

... snip ...

other recent posts mentioning enron, sarbanes oxley, &/or gao database of their audits of public company financial statements (problems growing from 3% of companies in the 90s to over 10%)
http://www.garlic.com/~lynn/2009.html#15 What are the challenges in risk analytics post financial crisis?
http://www.garlic.com/~lynn/2009.html#52 The Credit Crunch: Why it happened?
http://www.garlic.com/~lynn/2009.html#53 CROOKS and NANNIES: what would Boyd do?
http://www.garlic.com/~lynn/2009.html#57 CROOKS and NANNIES: what would Boyd do?
http://www.garlic.com/~lynn/2009.html#58 HONEY I LOVE YOU, but please cut the cards
http://www.garlic.com/~lynn/2009.html#63 CROOKS and NANNIES: what would Boyd do?
http://www.garlic.com/~lynn/2009.html#68 CROOKS and NANNIES: what would Boyd do?
http://www.garlic.com/~lynn/2009.html#73 CROOKS and NANNIES: what would Boyd do?
http://www.garlic.com/~lynn/2009.html#77 CROOKS and NANNIES: what would Boyd do?
http://www.garlic.com/~lynn/2009b.html#11 Amid Economic Turbulence, Mainframes Counter IT Cost-Cutting Trend
http://www.garlic.com/~lynn/2009b.html#12 Amid Economic Turbulence, Mainframes Counter IT Cost-Cutting Trend
http://www.garlic.com/~lynn/2009b.html#25 The recently revealed excesses of John Thain, the former CEO of Merrill Lynch, while the firm was receiving $25 Billion in TARP funds makes me sick
http://www.garlic.com/~lynn/2009b.html#36 A great article was posted in another BI group: "To H*** with Business Intelligence: 40 Percent of Execs Trust Gut"
http://www.garlic.com/~lynn/2009b.html#37 A great article was posted in another BI group: "To H*** with Business Intelligence: 40 Percent of Execs Trust Gut"
http://www.garlic.com/~lynn/2009b.html#48 The blame game is on : A blow to the Audit/Accounting Industry or a lesson learned ???
http://www.garlic.com/~lynn/2009b.html#49 US disaster, debts and bad financial management
http://www.garlic.com/~lynn/2009b.html#52 What has the Global Financial Crisis taught the Nations, it's Governments and Decision Makers, and how should they apply that knowledge to manage risks differently in the future?
http://www.garlic.com/~lynn/2009b.html#53 Credit & Risk Management ... go Simple ?
http://www.garlic.com/~lynn/2009b.html#54 In your opinion, which facts caused the global crise situation?
http://www.garlic.com/~lynn/2009b.html#57 Credit & Risk Management ... go Simple ?
http://www.garlic.com/~lynn/2009b.html#59 As bonuses...why breed greed, when others are in dire need?
http://www.garlic.com/~lynn/2009b.html#60 OCR scans of old documents
http://www.garlic.com/~lynn/2009b.html#73 What can we learn from the meltdown?
http://www.garlic.com/~lynn/2009b.html#80 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#0 Audit II: Two more scary words: Sarbanes-Oxley
http://www.garlic.com/~lynn/2009c.html#1 Audit II: Two more scary words: Sarbanes-Oxley
http://www.garlic.com/~lynn/2009c.html#3 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#4 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#6 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#8 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#10 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#11 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#18 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#20 Decision Making or Instinctive Steering?
http://www.garlic.com/~lynn/2009c.html#28 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#29 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#32 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#36 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#38 People to Blame for the Financial Crisis
http://www.garlic.com/~lynn/2009c.html#39 'WHO IS RESPONSIBLE FOR THE GLOBAL MELTDOWN'

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

How to defeat new telemarketing tactic

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: How to defeat new telemarketing tactic
Newsgroups: alt.folklore.computers
Date: Thu, 19 Feb 2009 17:44:42 -0500
re:
http://www.garlic.com/~lynn/2009c.html#46 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#48 How to defeat new telemarketing tactic

and from this post on linkedit
http://www.garlic.com/~lynn/2009c.html#38 People to Blame for the Financial Crisis

mention of commodity futures trading commission & CDS (credit-default swaps)
http://content.time.com/time/specials/packages/article/0,28804,1877351_1877350_1877330,00.html

commoditization modernization not only enabled the CDS situation but as noted, also Enron.

CFTC definition from my merge financial taxonomy & glossary ... information here:
http://www.garlic.com/~lynn/index.html#glosnote

Commodity Futures Trading Commission (CFTC)
A federal agency responsible for coordinating the commodities industry in the United States. Established in April 1975, the CFTC is charged with detecting and prosecuting violators of the Commodity Exchange Act of 1976. [OTS] A federal regulatory agency authorized under the Commodity Futures Trading Commission Act of 1974 to regulate futures trading in all commodities. The commission is comprised of five commissioners, one of whom is designated as chairman, all appointed by the President, subject to Senate confirmation. The CFTC is independent of the Cabinet departments. [NYMEX] A federal regulatory agency established under the Commodity Futures Trading Commission Act, as amended in 1974, that oversees futures trading in the United States. The commission is comprised of five commissioners, one of whom is designated as chairman, all appointed by the President subject to Senate confirmation, and is independent of all cabinet departments. [CBOT] CFTC and SEC are the primary regulators and oversee the actions of the clearing organizations under their jurisdictions to determine whether or not they are functioning in accordance with regulations and the law [GAO] Created by Congress in 1974 to regulate exchange trading in futures. [NYSE] The Federal regulatory agency established by the CFTC Act of 1974 to administer the Commodity Exchange Act. [CFTC]

... snip ...

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

SSLstrip hacking tool bypasses SSL to trick users, steal passwords

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: SSLstrip hacking tool bypasses SSL to trick users, steal passwords
Newsgroups: alt.folklore.computers
Date: Thu, 19 Feb 2009 21:39:04 -0500
SSLstrip hacking tool bypasses SSL to trick users, steal passwords
http://searchsecurity.techtarget.com/news/article/0,289142,sid14_gci1348473,00.html

not too long after this ha/cmp
http://www.garlic.com/~lynn/subtopic.html#hacmp
meeting in '92
http://www.garlic.com/~lynn/95.html#13
on ha/cmp scaleup
http://www.garlic.com/~lynn/lhwemail.html#medusa

two of the people mentioned (in the above meeting post) ... left and joined a small client/server startup responsible for something called a commerce server. We were called in as consultants because the startup wanted to do payment transactions on the server ... and had invented this stuff called SSL they wanted to use ... the result is frequently now called "electronic commerce".

part of turning technology into business process was reviewing the end-to-end operation ... as well as looking at these new things calling themselves Certification Authorities.

Part of the SSL review was that it was dependent on the end user supplying the https URL ... not getting it from a (unvalidated) site (i.e. like clicking on a pay/checkout button). However, web merchants almost immediately found that SSL cut their thruput by 90% or better ... so dropped back to using plain HTTP for the main shopping experience and only dropping into SSL when the user clicked pay/checkout button. As a result ... almost immediately after being originally deployed ... SSL security was compromised.

various recent posts discussing the above SSL compromise issue:
http://www.garlic.com/~lynn/aadsm14.htm#5 Who's afraid of Mallory Wolf?
http://www.garlic.com/~lynn/aadsm19.htm#13 What happened with the session fixation bug?
http://www.garlic.com/~lynn/aadsm19.htm#26 Trojan horse attack involving many major Israeli companies, executives
http://www.garlic.com/~lynn/aadsm20.htm#9 the limits of crypto and authentication
http://www.garlic.com/~lynn/aadsm20.htm#31 The summer of PKI love
http://www.garlic.com/~lynn/aadsm21.htm#22 Broken SSL domain name trust model
http://www.garlic.com/~lynn/aadsm21.htm#39 X.509 / PKI, PGP, and IBE Secure Email Technologies
http://www.garlic.com/~lynn/aadsm21.htm#40 X.509 / PKI, PGP, and IBE Secure Email Technologies
http://www.garlic.com/~lynn/aadsm24.htm#48 more on FBI plans new Net-tapping push
http://www.garlic.com/~lynn/aadsm26.htm#28 man in the middle, SSL
http://www.garlic.com/~lynn/aadsm27.htm#35 The bank fraud blame game
http://www.garlic.com/~lynn/aadsm28.htm#21 Dutch Transport Card Broken
http://www.garlic.com/~lynn/2003n.html#10 Cracking SSL
http://www.garlic.com/~lynn/2004i.html#16 New Method for Authenticated Public Key Exchange without Digital Ceritificates
http://www.garlic.com/~lynn/2004q.html#42 browser without "padlock" secure?
http://www.garlic.com/~lynn/2005g.html#1 What is a Certificate?
http://www.garlic.com/~lynn/2005g.html#44 Maximum RAM and ROM for smartcards
http://www.garlic.com/~lynn/2005i.html#7 Improving Authentication on the Internet
http://www.garlic.com/~lynn/2005l.html#19 Bank of America - On Line Banking *NOT* Secure?
http://www.garlic.com/~lynn/2005m.html#0 simple question about certificate chains
http://www.garlic.com/~lynn/2005m.html#18 S/MIME Certificates from External CA
http://www.garlic.com/~lynn/2005o.html#41 Certificate Authority of a secured P2P network
http://www.garlic.com/~lynn/2006c.html#36 Secure web page?
http://www.garlic.com/~lynn/2006h.html#34 The Pankian Metaphor
http://www.garlic.com/~lynn/2006k.html#2 Hey! Keep Your Hands Out Of My Abstraction Layer!
http://www.garlic.com/~lynn/2006k.html#17 Hey! Keep Your Hands Out Of My Abstraction Layer!
http://www.garlic.com/~lynn/2006s.html#11 Why not 2048 or 4096 bit RSA key issuance?
http://www.garlic.com/~lynn/2006v.html#49 Patent buster for a method that increases password security
http://www.garlic.com/~lynn/2007d.html#35 MAC and SSL
http://www.garlic.com/~lynn/2007m.html#41 X.509 weakness?
http://www.garlic.com/~lynn/2007q.html#30 what does xp do when system is copying
http://www.garlic.com/~lynn/2007r.html#66 The new urgency to fix online privacy
http://www.garlic.com/~lynn/2008h.html#72 SSL certificates - from a customer's point of view (trust)
http://www.garlic.com/~lynn/2008j.html#63 CLIs and GUIs
http://www.garlic.com/~lynn/2008l.html#50 IBM manual web pages
http://www.garlic.com/~lynn/2008o.html#11 Browser Security UI: the horns of the dilemma

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

How to defeat new telemarketing tactic

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: How to defeat new telemarketing tactic
Newsgroups: alt.folklore.computers
Date: Fri, 20 Feb 2009 16:12:22 -0500
jmfbahciv <jmfbahciv@aol> writes:
Greed is an aspect of each human being. It results in survival. Anybody who ignores this fact of Nature has cognitive dissonance.

re:
http://www.garlic.com/~lynn/2009c.html#42 How to defeat new telemarketing tactic

This showed up in the Madoff congressional hearings that noted that the most important thing is that crooks and fraud thrive with lack of visibility and transparency ... so while new regulations (or in many cases reregulation) ... the regulations will lag behind the crooks. Transparency and visibility represent huge inhibitor to fraudulent activity.

This also showed up in the rating agencies and the triple-A ratings given the toxic CDOs. It was highlighted that the rating agencies business became "mis-aligned" in the early 70s when they switched from the buyers paying for the ratings to the sellers paying for the ratings. This is analogous to using the sellers real estate agent in buying a house .... where the standard recommendation is have your own agent that represents your interests (don't use somebody that doesn't represent your interests). The adjunct was that the regulatory problem becames enromously more difficult when there is incentive is to do the wrong thing ... compared to managing an environment where the incentive is to do the right thing.

The two issues is that greed is part of most humans ... which works best when there is a combination of incentive to do the right thing and the rules & regulations are supporting doing the right thing.

In the past 30 yrs ... accelerating starting a decade ago ... the rules and regulations were being removed.

This is my periodic observation about the current crisis is that combination of deregulation and lax/non-existance regulation enforcement allowed the individual hotspots of greed and corruption to combine together into an economic firestorm. In large part, past regulation were attempts to put a lid on the magnitude of the greed and corruption ... trying to keep it from turning into economic firestorm.

In large part the knowledge about dealing with the activities resulting in the current crisis; have been around for decades ... but were significantly eliminated a decade ago.

as before, past posts mentioning misaligned business processes (which can be synergistic with lack of transparency and lack of visibility for crooks and fraud to thrive)
http://www.garlic.com/~lynn/2008p.html#9 Do you believe a global financial regulation is possible?
http://www.garlic.com/~lynn/2008s.html#30 How reliable are the credit rating companies? Who is over seeing them?
http://www.garlic.com/~lynn/2009.html#14 What are the challenges in risk analytics post financial crisis?
http://www.garlic.com/~lynn/2009.html#32 What are the challenges in risk analytics post financial crisis?
http://www.garlic.com/~lynn/2009.html#42 Lets play Blame Game...?
http://www.garlic.com/~lynn/2009.html#52 The Credit Crunch: Why it happened?
http://www.garlic.com/~lynn/2009.html#53 CROOKS and NANNIES: what would Boyd do?
http://www.garlic.com/~lynn/2009.html#57 CROOKS and NANNIES: what would Boyd do?
http://www.garlic.com/~lynn/2009.html#74 CROOKS and NANNIES: what would Boyd do?
http://www.garlic.com/~lynn/2009.html#77 CROOKS and NANNIES: what would Boyd do?
http://www.garlic.com/~lynn/2009.html#79 The Credit Crunch: Why it happened?
http://www.garlic.com/~lynn/2009b.html#37 A great article was posted in another BI group: "To H*** with Business Intelligence: 40 Percent of Execs Trust Gut"
http://www.garlic.com/~lynn/2009b.html#38 A great article was posted in another BI group: "To H*** with Business Intelligence: 40 Percent of Execs Trust Gut"
http://www.garlic.com/~lynn/2009b.html#49 US disaster, debts and bad financial management
http://www.garlic.com/~lynn/2009b.html#51 Will the Draft Bill floated in Congress yesterday to restrict trading of naked Credit Default Swaps help or aggravate?
http://www.garlic.com/~lynn/2009b.html#52 What has the Global Financial Crisis taught the Nations, it's Governments and Decision Makers, and how should they apply that knowledge to manage risks differently in the future?
http://www.garlic.com/~lynn/2009b.html#53 Credit & Risk Management ... go Simple ?
http://www.garlic.com/~lynn/2009b.html#73 What can we learn from the meltdown?
http://www.garlic.com/~lynn/2009b.html#78 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#1 Audit II: Two more scary words: Sarbanes-Oxley
http://www.garlic.com/~lynn/2009c.html#7 Payments start-up Noca takes aim at interchange Achilles heel
http://www.garlic.com/~lynn/2009c.html#45 How to defeat new telemarketing tactic

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

THE runs in DOS box?

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: THE runs in DOS box?
Newsgroups: comp.lang.rexx
Date: Sun, 22 Feb 2009 21:33:31 -0500
Glenn Knickerbocker <NotR@bestweb.net> writes:
In the actual VM/SP product, it predated REXX by one release.

recent post
http://www.garlic.com/~lynn/2009c.html#26 Tracing the third "when" in a "Select"

made reference to:
http://web.archive.org/web/20020506063424/http://computinghistorymuseum.org/ieee/af_forum/read.cfm?forum=10&id=21&thread=7

from above:
Development of Rexx began in March 1979 as a personal 'own time' project; writing languages was something of a hobby for the author--Rexx was the fifth he had designed and implemented.

... snip ...

there was internal battle with EDGAR (which was early CMS fullscreen edit product released to customers) with RED and NED ... both RED & NED were heavily used internally with quite a bit of history & evoluation. Major RED/NED benefit compared to EDGAR was that both RED & NED had extensive macro and scripting capability (and both predated XEDIT by a number of years and more mature).

old email on the subject (with some performance numbers):
http://www.garlic.com/~lynn/2006u.html#email790606

in this post
http://www.garlic.com/~lynn/2006u.html#26 Assembler question

vanilla CMS editor is the fastest and lowest CPU consumption. RED is a very close second fastest (but of course with lots more function than the old vanilla CMS editor ... equivalent to NED)

NED is the slowest with the highest cpu consumption ... with XEDIT a very close 2nd slowest (and 2nd highest cpu consumption)

some more email on the editor issue in the above post:
http://www.garlic.com/~lynn/2006u.html#email800311
http://www.garlic.com/~lynn/2006u.html#email800312

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

How to defeat new telemarketing tactic

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: How to defeat new telemarketing tactic
Newsgroups: alt.folklore.computers
Date: Mon, 23 Feb 2009 00:17:30 -0500
jmfbahciv <jmfbahciv@aol> writes:
Yup. There are still a lot of people who keep claiming that this elimination didn't happen and isn't the problem.

another part ...

Citigroup in Talks That May Raise Government's Stake, WSJ Says
http://www.bloomberg.com/apps/news?pid=20601087&sid=aw5gTFLQpmC0&refer=home
U.S. Eyes Large Stake in Citi; Taxpayers Could Own Up to 40% of Bank's Common Stock, Diluting Value of Shares
http://online.wsj.com/article/SB123535148618845005.html

some related to

Commodity Futures Modernization Act was also implicated in Enron ...

Gramm and the 'Enron Loophole'
http://www.nytimes.com/2008/11/17/business/17grammside.html

from above:
Enron was a major contributor to Mr. Gramm's political campaigns, and Mr. Gramm's wife, Wendy, served on the Enron board, which she joined after stepping down as chairwoman of the Commodity Futures Trading Commission.

... snip ...

Phil Gramm's Enron Favor
http://www.villagevoice.com/2002-01-15/news/phil-gramm-s-enron-favor/

from above:
A few days after she got the ball rolling on the exemption, Wendy Gramm resigned from the commission. Enron soon appointed her to its board of directors, where she served on the audit committee, which oversees the inner financial workings of the corporation. For this, the company paid her between $915,000 and $1.85 million in stocks and dividends, as much as $50,000 in annual salary, and $176,000 in attendance fees, according to a report by Public Citizen, a group that has relentlessly tracked Enron, which in turn has called the report unfair.

... snip ...

and then there is ... discussion of off-balance items:

from late last year (28nov08)

Stay away from Citigroup
http://www.bloggingstocks.com/2008/11/28/stay-away-from-citigroup-c/

from above:
Using household terms such as "QSPEs" and "VIEs," Pandit revealed that Citi has more than $1.2 trillion dollars in off-balance sheet assets. These off-balance sheet entities are similar in structure to Enron's SPVs (special purpose vehicles)

... snip ...

from last summer

Citigroup's $1.1 Trillion of Mysterious Assets Shadows Earnings
http://www.bloomberg.com/apps/news?pid=20601109
http://www.bloomberg.com/apps/news?pid=20601109&refer=home&sid=a1liVM3tG3aI
Whither Citigroup's $1.1 Trillion of Off Balance Sheet Assets?
http://www.nakedcapitalism.com/2008/07/wither-citigroups-11-trillion-of-off.html

misc. past posts mentioning the above:
http://www.garlic.com/~lynn/2008k.html#1 dollar coins
http://www.garlic.com/~lynn/2008k.html#12 dollar coins
http://www.garlic.com/~lynn/2008k.html#41 dollar coins
http://www.garlic.com/~lynn/2008q.html#26 Blinkenlights
http://www.garlic.com/~lynn/2009.html#84 what was the idea behind Citigroup's splitting up into two different divisions? what does this do for citigroup?
http://www.garlic.com/~lynn/2009b.html#8 Do emperors from the banks have new clothes?
http://www.garlic.com/~lynn/2009b.html#79 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#32 How to defeat new telemarketing tactic

and discussion that QSPEs had been abused ... to carry lots of things like (triple-A rated) toxic CDOs.

FASB's new QSPE rule implementation delayed
http://marketpipeline.blogspot.com/2008/07/fasbs-new-qspe-rule-implementation.html
FASB Renews Attempts to Amend QSPE Rules
http://www.complianceweek.com/article/5144/fasb-renews-attempts-to-amend-qspe-rules

from above:
That abuse became apparent when regulators provided guidance allowing banks to work out troubled loans held in off-balance-sheet structures without sacrificing off-balance-sheet accounting; that permission was the smoke signal indicating financial institutions were more involved in the assets than the accounting literature would intend to qualify for off-balance-sheet treatment.

... snip ...

Greenspan Slept as Off-Books Debt Escaped Scrutiny
http://www.bloomberg.com/apps/news?pid=newsarchive&refer=home&sid=aYJZOB_gZi0I

from above:
That same year Greenspan, Treasury Secretary Robert Rubin and SEC Chairman Arthur Levitt opposed an attempt by Brooksley Born, head of the Commodity Futures Trading Commission, to study regulating over-the-counter derivatives. In 2000, Congress passed a law keeping them unregulated.

article from fall 2007 thread
http://www.garlic.com/~lynn/2007t.html#4 Translation of IBM Basic Assembler to C?
http://www.garlic.com/~lynn/2007t.html#12 Translation of IBM Basic Assembler to C?

... where some of the deregulation details seem that Enron & Citigroup may have more than a little in common.

Hank Paulson's got an Enron-like crisis that could swamp Citigroup (C) and JPMorgan (JPM)
http://gs.bloggingstocks.com/2007/10/14/hank-paulsons-got-an-enron-like-crisis-that-could-swamp-citigro/

misc. past posts mentioning Glass-Steagall, Enron, and/or CFMA
http://www.garlic.com/~lynn/2002e.html#9 What are some impressive page rates?
http://www.garlic.com/~lynn/2002e.html#10 Deleting files and emails at Arthur Andersen and Enron
http://www.garlic.com/~lynn/2002e.html#14 EMV cards
http://www.garlic.com/~lynn/2002e.html#15 Deleting files and emails at Arthur Andersen and Enron
http://www.garlic.com/~lynn/2002e.html#16 Deleting files and emails at Arthur Andersen and Enron
http://www.garlic.com/~lynn/2004e.html#7 OT Global warming
http://www.garlic.com/~lynn/2005t.html#14 Dangerous Hardware
http://www.garlic.com/~lynn/2006.html#12a sox, auditing, finding improprieties
http://www.garlic.com/~lynn/2006h.html#58 Sarbanes-Oxley
http://www.garlic.com/~lynn/2007j.html#0 John W. Backus, 82, Fortran developer, dies
http://www.garlic.com/~lynn/2007o.html#0 The Unexpected Fact about the First Computer Programmer
http://www.garlic.com/~lynn/2007p.html#50 Newsweek article--baby boomers and computers
http://www.garlic.com/~lynn/2008.html#71 As Expected, Ford Falls From 2nd Place in U.S. Sales
http://www.garlic.com/~lynn/2008.html#78 As Expected, Ford Falls From 2nd Place in U.S. Sales
http://www.garlic.com/~lynn/2008b.html#12 Computer Science Education: Where Are the Software Engineers of Tomorrow?
http://www.garlic.com/~lynn/2008c.html#11 Toyota Sales for 2007 May Surpass GM
http://www.garlic.com/~lynn/2008c.html#87 Toyota Sales for 2007 May Surpass GM
http://www.garlic.com/~lynn/2008d.html#85 Toyota Sales for 2007 May Surpass GM
http://www.garlic.com/~lynn/2008e.html#42 Banks failing to manage IT risk - study
http://www.garlic.com/~lynn/2008e.html#59 independent appraisers
http://www.garlic.com/~lynn/2008f.html#1 independent appraisers
http://www.garlic.com/~lynn/2008f.html#13 independent appraisers
http://www.garlic.com/~lynn/2008f.html#17 independent appraisers
http://www.garlic.com/~lynn/2008f.html#43 independent appraisers
http://www.garlic.com/~lynn/2008f.html#46 independent appraisers
http://www.garlic.com/~lynn/2008f.html#53 independent appraisers
http://www.garlic.com/~lynn/2008f.html#71 Bush - place in history
http://www.garlic.com/~lynn/2008f.html#73 Bush - place in history
http://www.garlic.com/~lynn/2008f.html#75 Bush - place in history
http://www.garlic.com/~lynn/2008f.html#79 Bush - place in history
http://www.garlic.com/~lynn/2008f.html#94 Bush - place in history
http://www.garlic.com/~lynn/2008f.html#96 Bush - place in history
http://www.garlic.com/~lynn/2008f.html#97 Bush - place in history
http://www.garlic.com/~lynn/2008g.html#1 The Workplace War for Age and Talent
http://www.garlic.com/~lynn/2008g.html#2 Bush - place in history
http://www.garlic.com/~lynn/2008g.html#4 CDOs subverting Boyd's OODA-loop
http://www.garlic.com/~lynn/2008g.html#16 independent appraisers
http://www.garlic.com/~lynn/2008g.html#44 Fixing finance
http://www.garlic.com/~lynn/2008g.html#51 IBM CEO's remuneration last year ?
http://www.garlic.com/~lynn/2008g.html#52 IBM CEO's remuneration last year ?
http://www.garlic.com/~lynn/2008g.html#57 Credit crisis could cost nearly $1 trillion, IMF predicts
http://www.garlic.com/~lynn/2008g.html#59 Credit crisis could cost nearly $1 trillion, IMF predicts
http://www.garlic.com/~lynn/2008g.html#66 independent appraisers
http://www.garlic.com/~lynn/2008g.html#67 independent appraisers
http://www.garlic.com/~lynn/2008h.html#1 subprime write-down sweepstakes
http://www.garlic.com/~lynn/2008h.html#28 subprime write-down sweepstakes
http://www.garlic.com/~lynn/2008h.html#32 subprime write-down sweepstakes
http://www.garlic.com/~lynn/2008h.html#89 Credit Crisis Timeline
http://www.garlic.com/~lynn/2008j.html#12 To: Graymouse -- Ireland and the EU, What in the H... is all this about?
http://www.garlic.com/~lynn/2008j.html#66 lack of information accuracy
http://www.garlic.com/~lynn/2008k.html#20 IBM's 2Q2008 Earnings
http://www.garlic.com/~lynn/2008k.html#28 dollar coins
http://www.garlic.com/~lynn/2008k.html#36 dollar coins
http://www.garlic.com/~lynn/2008k.html#41 dollar coins
http://www.garlic.com/~lynn/2008l.html#42 dollar coins
http://www.garlic.com/~lynn/2008l.html#67 dollar coins
http://www.garlic.com/~lynn/2008l.html#70 dollar coins
http://www.garlic.com/~lynn/2008m.html#16 Fraud due to stupid failure to test for negative
http://www.garlic.com/~lynn/2008m.html#73 Blinkylights
http://www.garlic.com/~lynn/2008m.html#80 Fraud due to stupid failure to test for negative
http://www.garlic.com/~lynn/2008n.html#12 Blinkylights
http://www.garlic.com/~lynn/2008n.html#19 Blinkylights
http://www.garlic.com/~lynn/2008n.html#53 Your thoughts on the following comprehensive bailout plan please
http://www.garlic.com/~lynn/2008n.html#78 Isn't it the Federal Reserve role to oversee the banking system??
http://www.garlic.com/~lynn/2008n.html#99 Blinkylights
http://www.garlic.com/~lynn/2008o.html#12 The human plague
http://www.garlic.com/~lynn/2008o.html#18 Once the dust settles, do you think Milton Friedman's economic theories will be laid to rest
http://www.garlic.com/~lynn/2008o.html#19 What's your view of current global financial / economical situation?
http://www.garlic.com/~lynn/2008o.html#28 Does anyone get the idea that those responsible for containing this finanical crisis are doing too much?
http://www.garlic.com/~lynn/2008o.html#37 The human plague
http://www.garlic.com/~lynn/2008o.html#39 The human plague
http://www.garlic.com/~lynn/2008o.html#43 The human plague
http://www.garlic.com/~lynn/2008o.html#44 The human plague
http://www.garlic.com/~lynn/2008o.html#51 Why are some banks failing, and others aren't?
http://www.garlic.com/~lynn/2008o.html#68 Blinkenlights
http://www.garlic.com/~lynn/2008o.html#71 Why is sub-prime crisis of America called the sub-prime crisis?
http://www.garlic.com/~lynn/2008o.html#78 Who murdered the financial system?
http://www.garlic.com/~lynn/2008o.html#80 Can we blame one person for the financial meltdown?
http://www.garlic.com/~lynn/2008o.html#83 Chip-and-pin card reader supply-chain subversion 'has netted millions from British shoppers'
http://www.garlic.com/~lynn/2008p.html#3 Blinkenlights
http://www.garlic.com/~lynn/2008p.html#8 Global Melt Down
http://www.garlic.com/~lynn/2008p.html#9 Do you believe a global financial regulation is possible?
http://www.garlic.com/~lynn/2008q.html#26 Blinkenlights
http://www.garlic.com/~lynn/2008q.html#66 Blinkenlights
http://www.garlic.com/~lynn/2008r.html#64 Is This a Different Kind of Financial Crisis?
http://www.garlic.com/~lynn/2008s.html#9 Blind-sided, again. Why?
http://www.garlic.com/~lynn/2008s.html#20 Five great technological revolutions
http://www.garlic.com/~lynn/2008s.html#23 Garbage in, garbage out trampled by Moore's law
http://www.garlic.com/~lynn/2008s.html#28 Garbage in, garbage out trampled by Moore's law
http://www.garlic.com/~lynn/2008s.html#30 How reliable are the credit rating companies? Who is over seeing them?
http://www.garlic.com/~lynn/2008s.html#35 Is American capitalism and greed to blame for our financial troubles in the US?
http://www.garlic.com/~lynn/2008s.html#55 Is this the story behind the crunchy credit stuff?
http://www.garlic.com/~lynn/2009.html#58 HONEY I LOVE YOU, but please cut the cards
http://www.garlic.com/~lynn/2009.html#73 CROOKS and NANNIES: what would Boyd do?
http://www.garlic.com/~lynn/2009.html#84 what was the idea behind Citigroup's splitting up into two different divisions? what does this do for citigroup?
http://www.garlic.com/~lynn/2009b.html#36 A great article was posted in another BI group: "To H*** with Business Intelligence: 40 Percent of Execs Trust Gut"
http://www.garlic.com/~lynn/2009b.html#48 The blame game is on : A blow to the Audit/Accounting Industry or a lesson learned ???
http://www.garlic.com/~lynn/2009b.html#49 US disaster, debts and bad financial management
http://www.garlic.com/~lynn/2009b.html#52 What has the Global Financial Crisis taught the Nations, it's Governments and Decision Makers, and how should they apply that knowledge to manage risks differently in the future?
http://www.garlic.com/~lynn/2009b.html#53 Credit & Risk Management ... go Simple ?
http://www.garlic.com/~lynn/2009b.html#54 In your opinion, which facts caused the global crise situation?
http://www.garlic.com/~lynn/2009b.html#58 OCR scans of old documents
http://www.garlic.com/~lynn/2009b.html#59 As bonuses...why breed greed, when others are in dire need?
http://www.garlic.com/~lynn/2009b.html#60 OCR scans of old documents
http://www.garlic.com/~lynn/2009b.html#73 What can we learn from the meltdown?
http://www.garlic.com/~lynn/2009b.html#79 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009b.html#80 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#0 Audit II: Two more scary words: Sarbanes-Oxley
http://www.garlic.com/~lynn/2009c.html#1 Audit II: Two more scary words: Sarbanes-Oxley
http://www.garlic.com/~lynn/2009c.html#10 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#11 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#16 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#18 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#20 Decision Making or Instinctive Steering?
http://www.garlic.com/~lynn/2009c.html#29 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#32 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#36 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#38 People to Blame for the Financial Crisis
http://www.garlic.com/~lynn/2009c.html#39 'WHO IS RESPONSIBLE FOR THE GLOBAL MELTDOWN'
http://www.garlic.com/~lynn/2009c.html#42 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#45 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#46 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#48 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#49 How to defeat new telemarketing tactic

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

THE runs in DOS box?

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: THE runs in DOS box?
Newsgroups: comp.lang.rexx
Date: Mon, 23 Feb 2009 09:19:02 -0500
Anne & Lynn Wheeler <lynn@garlic.com> writes:
some more email on the editor issue in the above post:
http://www.garlic.com/~lynn/2006u.html#email800311
http://www.garlic.com/~lynn/2006u.html#email800312


re:
http://www.garlic.com/~lynn/2009c.html#52 THE runs in DOS box?

this argument was about shipping RED instead of XEDIT ... since it was significantly faster, had more function, and was much more mature ...

other email
http://www.garlic.com/~lynn/2006u.html#email800429
http://www.garlic.com/~lynn/2006u.html#email800501

in the same post
http://www.garlic.com/~lynn/2006u.html#26 Assembler question

about doing a highly modified vm370 for internal distribution/release.

also about putting RED in shared segments
http://www.garlic.com/~lynn/2006u.html#email781103

I had original done PAM (memory mapped filesystem for CMS) and shared-segments in cp67 ... and ported to vm370.
http://www.garlic.com/~lynn/2006v.html#email731212

in this post
http://www.garlic.com/~lynn/2006v.html#36 Why these original FORTRAN quirks?

and
http://www.garlic.com/~lynn/2006w.html#email750102
http://www.garlic.com/~lynn/2006w.html#email750430

in this post
http://www.garlic.com/~lynn/2006w.html#7 Why these original FORTRAN quirks?

a small subset of just the (CP and CMS) shared segment changes were released as DCSS.

Part of the whole scenario was I continued with CP67 & VM370 all during the corporation's Future System phase ... where lots of people were focused on FS (was going to completely replace 360/370 ... in much the same way that 360 had replaced prior generations) ... and as a result, there was neglect of both 370 hardware and software (I had also made disparaging remarks about the FS at the time, which possibly wasn't particularly career enhancing). When FS failed ... there was a mad rush to get stuff back into the 370 hardware & software product pipelines
http://www.garlic.com/~lynn/submain.html#futuresys

which tended to overcome NIH resistance and pick-up stuff for product release.

The mad rush to revitalize 370 ... also resulted in POK managing to convince the corporation to kill off vm370, shutdown the development group (in the old SBC bldg. in burlington mall) and move all the developers to POK (deemed critical in order to meet the mvs/xa schedule). Endicott managed to save the vm370 product mission, but essential had to reconstitute a group from scratch.

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

Who will give Citigroup the KNOCKOUT blow?

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Who will give Citigroup the KNOCKOUT blow?
Date: Feb 23, 2009
Blog: Economics
U.S. Eyes Large Stake in Citi; Taxpayers Could Own Up to 40% of Bank's Common Stock, Diluting Value of Shares
http://online.wsj.com/article/SB123535148618845005.html

somewhat related to

25 People to Blame for the Financial Crisis; Phil Gramm
http://content.time.com/time/specials/packages/article/0,28804,1877351_1877350_1877330,00.html

from above:
He played a leading role in writing and pushing through Congress the 1999 repeal of the Depression-era Glass-Steagall Act, which separated commercial banks from Wall Street. He also inserted a key provision into the 2000 Commodity Futures Modernization Act that exempted over-the-counter derivatives like credit-default swaps from regulation by the Commodity Futures Trading Commission. Credit-default swaps took down AIG, which has cost the U.S. $150 billion thus far.

... snip ...

Commodity Futures Modernization Act was also implicated in Enron ...

Gramm and the 'Enron Loophole'
http://www.nytimes.com/2008/11/17/business/17grammside.html

from above:
Enron was a major contributor to Mr. Gramm's political campaigns, and Mr. Gramm's wife, Wendy, served on the Enron board, which she joined after stepping down as chairwoman of the Commodity Futures Trading Commission.

... snip ...

and an older article: Phil Gramm's Enron Favor
http://www.villagevoice.com/2002-01-15/news/phil-gramm-s-enron-favor/

from above:
A few days after she got the ball rolling on the exemption, Wendy Gramm resigned from the commission. Enron soon appointed her to its board of directors, where she served on the audit committee, which oversees the inner financial workings of the corporation. For this, the company paid her between $915,000 and $1.85 million in stocks and dividends, as much as $50,000 in annual salary, and $176,000 in attendance fees, according to a report by Public Citizen, a group that has relentlessly tracked Enron, which in turn has called the report unfair.

... snip ...

and then there is PBS look that tightly ties CITI to repeal of Glass-Steagall
http://www.pbs.org/wgbh/pages/frontline/shows/wallstreet/

and then there is ... discussion of off-balance items, recent (28nov08)

Stay away from Citigroup
http://www.bloggingstocks.com/2008/11/28/stay-away-from-citigroup-c/

from above:
Using household terms such as "QSPEs" and "VIEs," Pandit revealed that Citi has more than $1.2 trillion dollars in off-balance sheet assets. These off-balance sheet entities are similar in structure to Enron's SPVs (special purpose vehicles)

... snip ...

and from last summer

Citigroup's $1.1 Trillion of Mysterious Assets Shadows Earnings
http://www.bloomberg.com/apps/news?pid=20601109
http://www.bloomberg.com/apps/news?pid=20601109&refer=home&sid=a1liVM3tG3aI
Whither Citigroup's $1.1 Trillion of Off Balance Sheet Assets?
http://www.nakedcapitalism.com/2008/07/wither-citigroups-11-trillion-of-off.html

and discussion that QSPEs had been abused ... to carry lots of things like (triple-A rated) toxic CDOs.

Accounting for Special Purpose Entities Revised: FASB Interpretation 46(R)
http://www.nysscpa.org/cpajournal/2004/704/essentials/p30.htm
FASB's new QSPE rule implementation delayed
http://marketpipeline.blogspot.com/2008/07/fasbs-new-qspe-rule-implementation.html
FASB Renews Attempts to Amend QSPE Rules
http://www.complianceweek.com/article/5144/fasb-renews-attempts-to-amend-qspe-rules

from above:
That abuse became apparent when regulators provided guidance allowing banks to work out troubled loans held in off-balance-sheet structures without sacrificing off-balance-sheet accounting; that permission was the smoke signal indicating financial institutions were more involved in the assets than the accounting literature would intend to qualify for off-balance-sheet treatment.

... snip ...

The above raises the issue of who were the auditors and regulators that allowed toxic CDOs to be classified as QSPE for off-balance-sheet treatment. Even though it should have never been allowed to begin with, this is another too big to fail scenario ... delaying correctly accounting for the assets. Citi had already won last year's "write-down" sweepsteaks with large tens of billions. If valuation is still 22cents on the dollor ... bringing back $1.2T onto the balance sheet would result in declaring nearly a $1T in losses.

article from fall 2007 thread
http://www.garlic.com/~lynn/2007t.html#4 Translation of IBM Basic Assembler to C?
http://www.garlic.com/~lynn/2007t.html#12 Translation of IBM Basic Assembler to C?

... where some of the deregulation details seem that Enron & Citigroup may have more than a little in common.

Hank Paulson's got an Enron-like crisis that could swamp Citigroup (C) and JPMorgan (JPM)
http://gs.bloggingstocks.com/2007/10/14/hank-paulsons-got-an-enron-like-crisis-that-could-swamp-citigro/

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

Why use RFID in personal documents & cards at all?

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Why use RFID in personal documents & cards at all?
Date: Feb 23, 2009
Blog: Wireless
Much of RFID was motivated by EPC ... i.e. the electronic replacement for UPC barcodes .... basically quick & easy identification for inventory, checkout, etc.

Some proximity technologies can do secure transactions with contactless radio frequency ... but it requires more than the RFID EPC technologies designed for efficient inventory of static data.

When we were working in x9a10 financial standard in the mid-90s (had been given the requirement to preserve the integrity of the financial infrastructure for all retail payments) which resulted in x9.59 financial standard
http://www.garlic.com/~lynn/x959.html#x959

we were approach by both wholesale operations (sufficient integrity for high value transactions) as well as transit ... lightweight enough that would operate in contactless transit gate applications (very strong integrity for very high value transactions and lightweight enough for low-power, radio-frequency contactless, time-constrained transit gate operations).

In the period, there were a number of contactless, radio-frequency metro/transit solutions being deployed ... but they were NOT "static" data (so more than a decade ago, low-value transit "RFID" applications realized not to use "static" data implementations).

but if the "easily read static" data is (high-value &) sensitive ... then there is a problem ... recent item:

RFID PASScards Easily Cloned
http://www.eff.org/deeplinks/2009/02/rfid-passports-scanned-car
Passport RFIDs cloned wholesale by $250 eBay auction spree
http://www.theregister.co.uk/2009/02/02/low_cost_rfid_cloner/

A number of electronic "static data" implementations continued to show-up ... even in this century/decade ... another example was the yes card:
http://web.archive.org/web/20030417083810/http://www.smartcard.co.uk/resources/articles/cartes2002.html

misc. past yes card posts:
http://www.garlic.com/~lynn/subintegrity.html#yescard

Note in the yes card example ... the "static data" was digitally signed and absolutely correct. Skimming/evesdropping recorded the "static data" (including the digital signature) and loaded it into a counterfeit (yes card) chip. The counterfeit (yes card) chip would replay the "static data" (including the digital signature), which was accepted as valid.

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

Western Union history--data communications passed it by

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: Western Union history--data communications passed it by
Newsgroups: alt.folklore.computers
Date: Mon, 23 Feb 2009 15:06:11 -0500
hancock4 writes:
As we know, the old Western Union went bankrupt some years ago and only the name survived as a money-transfer company. The explosion in Internet and data communications seemed to have passed the company by. Back in 1960 WU knew its traditional telegram business had no future and was looking for replacement services.

Some people have discussed using WU services in the 1980s (eg Easy Link). But the company was already on its last legs by then. The real question is what happened to Western Union when business data communication exploded, between say 1960 and 1975. In that time frame the computer communications world changed dramatically but WU seemed to have missed the boat, and then it was too late to catch up.

What's curious is that WU _seemed_ to be doing all the right things in the 1960s. It was developing new services and new technology for data communications. It advertised new concepts. It developed its own microwave network for high speed or broadband communications, including private line voice. It sought for users of its Telex network of Teletypes to use Telex to access computers for information and time-sharing. In the early 1960s it had maor data and message communication contracts for both the US Defense Department and General Services Administration. WU launched satellites.


WU was possibly the first value added network ... that became more prevalent during the 70s & 80s. In effect, ubiquitous Internet obsoluted the value added networks ... eventually subsuming all of their function.

note that tymnet was going after similar market ... part of tymshare operation ... also fit in that niche in 70s & 80s ... misc. past posts mentioning commercial timesharing vm370-based service bureaus (including tymshare)
http://www.garlic.com/~lynn/submain.html#timeshare

old email reference to CSNET connectivity (funded by NSF) that worked over ARPANET, TeleNET (GTE) and "PhoneNet" (regular dialup).
http://www.garlic.com/~lynn/internet.htm#email821022
http://www.garlic.com/~lynn/98.html#email821022

in this post
http://www.garlic.com/~lynn/internet.htm#0
http://www.garlic.com/~lynn/98.html#59

a lot of the traditional value added network orientation shows up in OSI ... misc. past posts mentioning OSI (& HSP)
http://www.garlic.com/~lynn/subnetwork.html#xtphsp

a major difference between OSI and the internet is the "internetworking layer" ... that greatly facilitated the ubiquitous deployment; the any-to-any connectivity ... getting around many of the proprietary &/or value-added networking limitations.
http://www.garlic.com/~lynn/subnetwork.html#internet

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

Has anyone seen a lift from using an Extended Validation SSL Certificate?

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Has anyone seen a lift from using an Extended Validation SSL Certificate?
Date: Feb 23, 2009
Blog: E-Commerce
SSLstrip hacking tool bypasses SSL to trick users, steal passwords
http://searchsecurity.techtarget.com/news/article/0,289142,sid14_gci1348473,00.html

more recent

SSLStrip Now In the Wild
http://it.slashdot.org/article.pl?sid=09/02/23/1429226
sslsniff
http://www.thoughtcrime.org/software/sslsniff/index.html

not too long after this ha/cmp
http://www.garlic.com/~lynn/subtopic.html#hacmp
meeting in '92
http://www.garlic.com/~lynn/95.html#13
on ha/cmp scaleup
http://www.garlic.com/~lynn/lhwemail.html#medusa

two of the people mentioned (in the above meeting post) ... left and joined a small client/server startup responsible for something called a commerce server. We were called in as consultants because the startup wanted to do payment transactions on the server ... and had invented this stuff called SSL they wanted to use ... the result is frequently now called "electronic commerce".

part of turning technology into business process was reviewing the end-to-end operation ... as well as looking at these new things calling themselves Certification Authorities.

Part of the SSL review was that it was dependent on the end user supplying the https URL ... not getting it from a (unvalidated) site (i.e. like clicking on a pay/checkout button). However, web merchants almost immediately found that SSL cut their thruput by 90% or better ... so dropped back to using plain HTTP for the main shopping experience and only dropping into SSL when the user clicked pay/checkout button. As a result ... almost immediately after being originally deployed ... SSL security was compromised.

recent post mentioning the above ... with URL pointers to some of the older discussions on the subject:
http://www.garlic.com/~lynn/2009c.html#50

Part of the original SSL justification was concerns about integrity of the domain name infrastructure. However, the authoritative agency for domain name ownership is the domain name infrastructure. A typical SSL digital certificate application requires that the Certification Authority obtain claims from the applicant as to being the owner of the domain name ... which is then checked with the information on file with the domain name infrastructure.

Because of this dependency, the Certification Authority industry has backed various integrity improvements for the domain name infrastructure. However, this is something of a catch-22 ... since improving domain name name infrastructure integrity ... eliminates much of the original motivation for having SSL. Misc. past discussions
http://www.garlic.com/~lynn/subpubkey.html#catch22

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

Why do IBMers think disks are 'Direct Access'?

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: Why do IBMers think disks are 'Direct Access'?
Newsgroups: alt.folklore.computers
Date: Mon, 23 Feb 2009 20:45:49 -0500
Rich Alderson <news@alderson.users.panix.com> writes:
I said it's been 30 years or more, but I used to be the guy in the shops I worked in who answered other people's JCL questions. I also used to write Assembler/F programs with DCB macros in them, when security concerns needed to keep file names and such out of the JCL listings. Yes, JCL was the standard way to specify that DISP=MOD, but not the only way.

I'm sorry, but I do not consider access methods to be separate from the macros that include the appropriate interface code in my program, and from that perspective it's *my program* that is doing I/O. All else is pedantry.


part of the issue is that "OPEN" would load the appropriate access (read, write, get, put, etc) routine libraries into user address space. read/write/get/put linkage calls were BALR (branch&link register).

the read/write/get/put library routines would build channel program CCWs in the application address space ... and eventually do EXCP/SVC0 system supervisor call ... passing pointer to the (application space) channel program CCWs.

the kernel supervisor eventually gets around to doing a start i/o operation using the application space channel program CCWS (potentially with prefix CCWs to limit what the application channel program does).

the i/o channels executes channel programs with "real" addresses ... the issue then is what happens when moved to virtual address environment (the application is now running with virtual addresses and the i/o library is building channel program CCWs with those virtual addresses).

in virtual machine cp67 system ... supporting virtual machines in virtual spaces, (the cp67 routine) CCWTRANS would scan the passed channel program CCWs ... creating a shadow/copy of the channel program CCWs ... replacing the virtual address with real addresses (as well as fixing/pinning the virtual pages).

the initial transition of os/360 MVT to virtual memory VS2/SVS ... involved creating single virtual address space ... minor changes to MVT as if it was running in 16mbyte real storage (with minor changes for page table crafted on the side and being able to handle page faults) ... and a copy of CP67's CCWTRANS was hacked into the side of EXCP kernel processing.

the transition from SVS to MVS involved giving each application its own 16mbyte virtual address space ... with 8mbyte image of the kernel in (half of) each application virtual address space.

MVS did have some amount of other problems. os/360 real storage heritage grew up with extensive pointer-passing API (major reason that kernel image appeared in every application virtual address space). However, there were a lot of subsystem functions that provided system functions ... invoked via pointer-passing API. As part of the transition to MVS ... the subsystem functions (also) got their own virtual address spaces. Then came the issue of how would application pointer passing API work between application in one virtual address space and a subsystem function in a different virtual address space.

some past discussion of common segment, dual-address space, access registers, program call/return
http://www.garlic.com/~lynn/98.html#36 What is MVS/ESA?
http://www.garlic.com/~lynn/2000c.html#84 Is a VAX a mainframe?
http://www.garlic.com/~lynn/2000d.html#28 RS/6000 vs. System/390 architecture?
http://www.garlic.com/~lynn/2000e.html#58 Why not an IBM zSeries workstation?
http://www.garlic.com/~lynn/2001d.html#28 Very CISC Instuctions (Was: why the machine word size ...)
http://www.garlic.com/~lynn/2001d.html#30 Very CISC Instuctions (Was: why the machine word size ...)
http://www.garlic.com/~lynn/2001h.html#73 Most complex instructions
http://www.garlic.com/~lynn/2001i.html#13 GETMAIN R/RU (was: An IEABRC Adventure)
http://www.garlic.com/~lynn/2001k.html#16 Minimalist design (was Re: Parity - why even or odd)
http://www.garlic.com/~lynn/2002d.html#51 Hardest Mistake in Comp Arch to Fix
http://www.garlic.com/~lynn/2002g.html#5 Black magic in POWER5
http://www.garlic.com/~lynn/2002g.html#17 Black magic in POWER5
http://www.garlic.com/~lynn/2002g.html#18 Black magic in POWER5
http://www.garlic.com/~lynn/2002h.html#21 PowerPC Mainframe
http://www.garlic.com/~lynn/2002l.html#57 Handling variable page sizes?
http://www.garlic.com/~lynn/2002m.html#0 Handling variable page sizes?
http://www.garlic.com/~lynn/2002n.html#58 IBM S/370-168, 195, and 3033
http://www.garlic.com/~lynn/2002n.html#74 Everything you wanted to know about z900 from IBM
http://www.garlic.com/~lynn/2002p.html#43 cost of crossing kernel/user boundary
http://www.garlic.com/~lynn/2002q.html#1 Linux paging
http://www.garlic.com/~lynn/2003c.html#13 Unused address bits
http://www.garlic.com/~lynn/2003d.html#53 Reviving Multics
http://www.garlic.com/~lynn/2003d.html#69 unix
http://www.garlic.com/~lynn/2003e.html#0 Resolved: There Are No Programs With >32 Bits of Text
http://www.garlic.com/~lynn/2003e.html#12 Resolved: There Are No Programs With >32 Bits of Text
http://www.garlic.com/~lynn/2003g.html#13 Page Table - per OS/Process
http://www.garlic.com/~lynn/2003m.html#29 SR 15,15
http://www.garlic.com/~lynn/2004c.html#6 If the x86 ISA could be redone
http://www.garlic.com/~lynn/2004e.html#41 Infiniband - practicalities for small clusters
http://www.garlic.com/~lynn/2004f.html#27 [Meta] Marketplace argument
http://www.garlic.com/~lynn/2004f.html#53 Infiniband - practicalities for small clusters
http://www.garlic.com/~lynn/2004n.html#26 PCIe as a chip-to-chip interconnect
http://www.garlic.com/~lynn/2004n.html#54 CKD Disks?
http://www.garlic.com/~lynn/2004o.html#18 Integer types for 128-bit addressing
http://www.garlic.com/~lynn/2004o.html#57 Integer types for 128-bit addressing
http://www.garlic.com/~lynn/2005.html#3 [Lit.] Buffer overruns
http://www.garlic.com/~lynn/2005b.html#53 The mid-seventies SHARE survey
http://www.garlic.com/~lynn/2005c.html#63 intel's Vanderpool and virtualization in general
http://www.garlic.com/~lynn/2005d.html#62 Misuse of word "microcode"
http://www.garlic.com/~lynn/2005f.html#7 new Enterprise Architecture online user group
http://www.garlic.com/~lynn/2005f.html#41 Moving assembler programs above the line
http://www.garlic.com/~lynn/2005f.html#57 Moving assembler programs above the line
http://www.garlic.com/~lynn/2005p.html#18 address space
http://www.garlic.com/~lynn/2005p.html#19 address space
http://www.garlic.com/~lynn/2005q.html#41 Instruction Set Enhancement Idea
http://www.garlic.com/~lynn/2005q.html#48 Intel strikes back with a parallel x86 design
http://www.garlic.com/~lynn/2006.html#39 What happens if CR's are directly changed?
http://www.garlic.com/~lynn/2006b.html#25 Multiple address spaces
http://www.garlic.com/~lynn/2006b.html#28 Multiple address spaces
http://www.garlic.com/~lynn/2006b.html#32 Multiple address spaces
http://www.garlic.com/~lynn/2006i.html#33 virtual memory
http://www.garlic.com/~lynn/2006j.html#38 The Pankian Metaphor
http://www.garlic.com/~lynn/2006k.html#44 virtual memory
http://www.garlic.com/~lynn/2006p.html#10 What part of z/OS is the OS?
http://www.garlic.com/~lynn/2006r.html#26 A Day For Surprises (Astounding Itanium Tricks)
http://www.garlic.com/~lynn/2006r.html#32 MIPS architecture question - Supervisor mode & who is using it?
http://www.garlic.com/~lynn/2006s.html#42 Ranking of non-IBM mainframe builders?
http://www.garlic.com/~lynn/2006t.html#23 threads versus task
http://www.garlic.com/~lynn/2006v.html#23 Ranking of non-IBM mainframe builders?
http://www.garlic.com/~lynn/2006x.html#23 Multiple mappings
http://www.garlic.com/~lynn/2006y.html#16 "The Elements of Programming Style"
http://www.garlic.com/~lynn/2006y.html#39 Multiple mappings
http://www.garlic.com/~lynn/2007g.html#39 Wylbur and Paging
http://www.garlic.com/~lynn/2007g.html#59 IBM to the PCM market(the sky is falling!!!the sky is falling!!)
http://www.garlic.com/~lynn/2007k.html#14 Some IBM 3033 information
http://www.garlic.com/~lynn/2007k.html#27 user level TCP implementation
http://www.garlic.com/~lynn/2007k.html#28 IBM 360 Model 20 Questions
http://www.garlic.com/~lynn/2007l.html#71 IBM 360 Model 20 Questions
http://www.garlic.com/~lynn/2007m.html#0 IBM 360 Model 20 Questions
http://www.garlic.com/~lynn/2007o.html#10 IBM 8000 series
http://www.garlic.com/~lynn/2007p.html#21 Newsweek article--baby boomers and computers
http://www.garlic.com/~lynn/2007q.html#26 Does software life begin at 40? IBM updates IMS database
http://www.garlic.com/~lynn/2007q.html#68 Direction of Stack Growth
http://www.garlic.com/~lynn/2007r.html#56 CSA 'above the bar'
http://www.garlic.com/~lynn/2007r.html#67 CSA 'above the bar'
http://www.garlic.com/~lynn/2007r.html#69 CSA 'above the bar'
http://www.garlic.com/~lynn/2007t.html#16 segmentation or lack thereof
http://www.garlic.com/~lynn/2007t.html#75 T3 Sues IBM To Break its Mainframe Monopoly
http://www.garlic.com/~lynn/2008c.html#33 New Opcodes
http://www.garlic.com/~lynn/2008c.html#35 New Opcodes
http://www.garlic.com/~lynn/2008d.html#69 Regarding the virtual machines
http://www.garlic.com/~lynn/2008e.html#14 Kernels
http://www.garlic.com/~lynn/2008e.html#33 IBM Preview of z/OS V1.10
http://www.garlic.com/~lynn/2008g.html#60 Different Implementations of VLIW
http://www.garlic.com/~lynn/2008h.html#29 DB2 & z/OS Dissertation Research
http://www.garlic.com/~lynn/2008i.html#52 Microsoft versus Digital Equipment Corporation
http://www.garlic.com/~lynn/2008l.html#45 z/OS BIND9 DNS Vulnerable to Cache Poisoning Attack Problem?
http://www.garlic.com/~lynn/2008l.html#83 old 370 info
http://www.garlic.com/~lynn/2008o.html#53 Old XDS Sigma stuff
http://www.garlic.com/~lynn/2008o.html#73 Addressing Scheme with 64 vs 63 bits
http://www.garlic.com/~lynn/2008p.html#40 Opsystems
http://www.garlic.com/~lynn/2008r.html#32 What if the computers went back to the '70s too?
http://www.garlic.com/~lynn/2009.html#55 Graphics on a Text-Only Display

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

SSLstrip hacking tool bypasses SSL to trick users, steal passwords

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: SSLstrip hacking tool bypasses SSL to trick users, steal passwords
Date: Feb 23, 2009
Blog: Financial Crime Risk, Fraud and Security
re:
http://www.garlic.com/~lynn/2009c.html#50 SSLstrip hacking tool bypasses SSL to trick users, steal passwords

similar discussion in this (linkedin) question
http://www.garlic.com/~lynn/2009c.html#58 Has anyone seen a lift from using an Extended Validation SSL Certificate

Part of the original SSL justification was concerns about integrity of the domain name infrastructure. However, the authoritative agency for domain name ownership is the domain name infrastructure. A typical SSL digital certificate application requires that the Certification Authority obtain claims from the applicant as to being the owner of the domain name ... which is then checked with the information on file with the domain name infrastructure.

Because of this dependency, the Certification Authority industry has backed various integrity improvements for the domain name infrastructure. However, this is something of a catch-22 ... since improving domain name name infrastructure integrity ... eliminates much of the original motivation for having SSL. Misc. past discussions
http://www.garlic.com/~lynn/subpubkey.html#catch22

There some different kinds of attacks ... one is with spoofed sites ... those sites that are impersonating a real site. However, a major objective of SSL was countermeasure to MITM-attacks ... some past posts
http://www.garlic.com/~lynn/subintegrity.html#mitm

One flavor of SSL attack is a variation on proxy software; the attacker is running something akin to modified proxy software ... where it accepts a SSL connection with a client and then creates a spoofed SSL connection to the real webserver. The operation transparently passes traffic in both direction between the real clients and the real webservers (like a real proxy does) .... but able to evesdrop on all the traffic in both directions. Users will always see the "real" server information ... whatever it is (the attacker doesn't have to impersonate any server-identification since it is performing a straight-forward MITM-attack ... using the real server information).

The MITM-attack ... as a variation on proxy operation is actually simpler than attempting to spoof a real site (with things like emulating the real server identification) ... since the attacker doesn't need to have any knowledge of the real stie (since it is just transparently passing traffic between the real server and the real client).

There are some studies that attackers may even be succesful w/o trying to have an SSL session. This works with both the spoofing attack (i.e. impersonating the real site ... but with a non-SSL session) as well as the MITM-attack (i.e. transparently handling traffic between the real client and the real webserver ... although the real webserver part of the traffic would be over a real SSL session). Again, the MITM-attack is actually much less effort for an attacker than the spoofing site.

... and with respect to the catch-22 ... there are some number of domain name system integrity issues that aren't addressed by SSL ... which may prompt changes ... that contribute to eliminating the motivation for SSL.

For A Poisoned Internet, No Quick Fix
http://www.forbes.com/2009/02/19/dns-hacker-kaminsky-tech-security-0219_bug.html
Permanent fix needed for DNS security issues, Kaminsky warns at Black Hat Techies bypass feds on DNS security
http://www.computerworld.com.au/article/277677/techies_bypass_feds_dns_security?eid=-255

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

Accounting for the "greed factor"

Refed: **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **, - **
From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Accounting for the "greed factor"
Date: Feb 24, 2009
Blog: Government Policy
A lot of the greed and corruption hotspots have been around for quite awhile, however a combination of deregulation and lax/limited regulation enforcement allowed them to combine together into economic firestorm.

Part of the issue from congressional hearings late last fall into securitization and rating agencies, was mis-aligned business process.

toxic CDOs had been used two decades ago during the S&L crisis w/o the current disastrous effects. A big difference is that the toxic CDOs now were getting triple-A ratings ... which enormously increased the institutions that would buy toxic CDOs and therefor the money available to loan originators (that were dependent on securitization as source of funds).

In the hearings, the statement was that the seeds of this was sown in the early 70s when the rating agencies changed from the buyers paying for the ratings to the sellers paying for the ratings ... resulting in mis-aligned business process and opening the opportunity for conflict of interest.

The Man Who Beat The Shorts
http://www.forbes.com/forbes/2008/1117/114.html

from above:
Watsa's only sin was in being a little too early with his prediction that the era of credit expansion would end badly. This is what he said in Fairfax's 2003 annual report: "It seems to us that securitization eliminates the incentive for the originator of [a] loan to be credit sensitive. Prior to securitization, the dealer would be very concerned about who was given credit to buy an automobile. With securitization, the dealer (almost) does not care."

... snip ...

Previously loan origination was by institutions using deposits, which were highly regulated and influenced by things like the FEDs prime rate. With securitization, loan origination could be decoupled from traditional regulatory environment. No-documentation, no-down payment, 1% interest only payment ARMs became extremely attractive to speculators since the 1%/annum cost was significantly less than home inflation in many parts of the country (and were planning on flipping before rates adjusted). Those originating these loans didn't care since they immediately unloaded all loans they could write, as triple-A rated toxic CDOs.

related answers
http://www.garlic.com/~lynn/2009c.html#39 WHO IS RESPONSIBLE FOR THE GLOBAL MELTDOWN
http://www.garlic.com/~lynn/2009c.html#55 Who will give Citigroup the KNOCKOUT blow?

some quotes from the Glass-Steagall hearings in the wake of crash of '29:
Reserve requirements of members banks should be changed so as to be based not solely upon volume of deposits but also upon rapidity of their turn-over, thus checking excessive speculation, say Eugene R. Black and Federal Reserve Board 7434-7435, 7436-7441, 7492-7493, 7495-7516

"Uncontrolled" because even where made indirectly through banks, reserves against such loans were not required and because completely unregulated, said Charles H. E. Scheer 6313

Brokers loans made by corporations aided to create speculative mania in years prior to 1929, testifies Otto H. Kahn 1010


... snip ...

There is an analogy between the "speculation mania" using "brokers loans" in the '20s and the current home market speculation bubble fueled by the no-doc, no-down, 1% interest only ARMs (made possible by securitization and triple-A ratings on toxic CDOs).

There is also an analogy between the "Uncontrolled loans made indirectly through banks" in the 20s and the financial institutions that were buying up triple-A rated toxic CDOs and carrying them off-balance (see the answer referance regarding Citigroup)

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

Western Union history--data communications passed it by

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: Western Union history--data communications passed it by
Newsgroups: alt.folklore.computers
Date: Tue, 24 Feb 2009 16:39:18 -0500
re:
http://www.garlic.com/~lynn/2009c.html#57 Western Union history--data communications passed it by

in some sense ... the internet did to private & value-added networks ... what the "web" (riding on the internet) is now doing to the newspapers (just heard a sound bite about all the papers declaring or about to declare bankruptcy).

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

SSLstrip hacking tool bypasses SSL to trick users, steal passwords

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: SSLstrip hacking tool bypasses SSL to trick users, steal passwords
Date: Feb 24, 2009
Blog: Financial Crime Risk, Fraud and Security
re:
http://www.garlic.com/~lynn/2009c.html#50 SSLstrip hacking tool bypasses SSL to trick users, steal passwords
http://www.garlic.com/~lynn/2009c.html#60 SSLstrip hacking tool bypasses SSL to trick users, steal passwords

More recent item on SSL Strip and man-in-the-middle attacks

SSL Strip Hacking Tool Gets 'Hacked,' Then Released Black Hat DC researcher's SSL man-in-the-middle attack tool now available
http://www.darkreading.com/security/attacks/showArticle.jhtml?articleID=214502801

the simplest man-in-the-middle attack is "proxy-like" code that creates a SSL session with the client ... and then creates a separate SSL session with the (real) server ... and then transparently forwards traffic between the client and the real server ... while havesting (making copies of) the information.

As previously mentioned SSL use was compromised almost immediately after the original deployment.

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

Western Union history--data communications passed it by

Refed: **, - **, - **
From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: Western Union history--data communications passed it by
Newsgroups: alt.folklore.computers
Date: Wed, 25 Feb 2009 09:14:58 -0500
Morten Reistad <first@last.name> writes:
Except the papers that did embrace change.

The Schibsted company, owner of #1 and #2 newspapers here (VG, Aftenposten) has the #1 web site for the newapaper, and has also won the fight with Ebay witn finn (www.finn.no) for the ads.


re:
http://www.garlic.com/~lynn/2009c.html#57 Western Union history--data communications passed it by
http://www.garlic.com/~lynn/2009c.html#62 Western Union history--data communications passed it by

internet & web commoditized a lot of things.

the old business model doesn't survive. some corporate entities may survive by changing their business model and doing something different (although possibly similar in the new environment).

there has been a saying about succesful startups in silicon valley ... the thing that they have in common was that they completely changed their business model at least once in the first year.

In the mid-90s, (at least) two corporate entities looked at buying WU ... FFM and FDC (which already had Moneygram). FFM outbid FDC. Later there was merger of FDC and FFM (which required spinning off Moneygram).

One of the issues is that internet & web is possibly also enabling commoditizing payment processing. One of the current issues is that there is lots of hype about looking at alternative payment offerings ... in part because of the high fees associated with the current offerings. Some recent posts:
http://www.garlic.com/~lynn/2009.html#74 CROOKS and NANNIES: what would Boyd do?
http://www.garlic.com/~lynn/2009c.html#7 Payments start-up Noca takes aim at interchange Achilles heel

for a little topic drift ... a thread about auto industry had gotten reputation for not improving theft countermeasures ... since "ever car stolen resulted in a sale".
https://financialcryptography.com/mt/archives/001128.html
https://financialcryptography.com/mt/archives/001129.html

and back to less topic drift, news item summary from 1990 (note the comment about fax'es had already decimated telex business):


Subject: "3 Western Union Units Being Sold <to AT&T>"
Source:  NY Times, 7/4/90, pg 21 (Nat'l Ed), Keith Brandler

Western Union agreed to sell its computer mail and data busineses to AT&T for $180M - Western Union, 139 years old, is owned by Bennett LeBow . bought the tottering company in late 1987 for $25M . financed with junk bonds - WU had $629M in revenues in 1989 . it will retain 3 businesses, 2/3rds of its workers . wire transfer of money, express message delivery, Mailgram . AT&T gets 3,800 employees - WU has been strapped for cash . $650M debt, the $500M in junk bonds is at 19.25% . most of the money will go towards debt redemption . WU will probably look to refinance at lower rates . creditors didn't force the sale but they were anxious for some capital . the sum paid was slightly higher than analysts expected
The deal makes AT&T a leader in the E-Mail business - AT&T had 6% of the E-Mail business, having WU's E-Mail adds 27% more . WU's telex business is of less interest . the fax explosion had decimated it anyway . it still has loyal customers, part. in under-developed countries - WU will use AT&T facilities in the future for its communications needs . terms of future service undisclosed . the businesses made up 40% of WU 1989 revenues - 'As the world of office automation has grown up, many of the simple word processing platforms that many businesses are using would have their value enhanced <by E-mail>' AT&T business communications systems division presiden
... snip ...

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

is it possible that ALL banks will be nationalized?

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: is it possible that ALL banks will be nationalized?
Date: Feb 26, 2009
Blog: Equity Markets
somewhat related to

25 People to Blame for the Financial Crisis; Phil Gramm
http://content.time.com/time/specials/packages/article/0,28804,1877351_1877350_1877330,00.html

from above:
He played a leading role in writing and pushing through Congress the 1999 repeal of the Depression-era Glass-Steagall Act, which separated commercial banks from Wall Street. He also inserted a key provision into the 2000 Commodity Futures Modernization Act that exempted over-the-counter derivatives like credit-default swaps from regulation by the Commodity Futures Trading Commission. Credit-default swaps took down AIG, which has cost the U.S. $150 billion thus far.

... snip ...

Commodity Futures Modernization Act was also implicated in Enron ...

Gramm and the 'Enron Loophole'
http://www.nytimes.com/2008/11/17/business/17grammside.html

from above:
Enron was a major contributor to Mr. Gramm's political campaigns, and Mr. Gramm's wife, Wendy, served on the Enron board, which she joined after stepping down as chairwoman of the Commodity Futures Trading Commission.

... snip ...

and an older article: Phil Gramm's Enron Favor
http://www.villagevoice.com/2002-01-15/news/phil-gramm-s-enron-favor/

from above:
A few days after she got the ball rolling on the exemption, Wendy Gramm resigned from the commission. Enron soon appointed her to its board of directors, where she served on the audit committee, which oversees the inner financial workings of the corporation. For this, the company paid her between $915,000 and $1.85 million in stocks and dividends, as much as $50,000 in annual salary, and $176,000 in attendance fees, according to a report by Public Citizen, a group that has relentlessly tracked Enron, which in turn has called the report unfair.

... snip ...

and then there is PBS look that tightly ties CITI to repeal of Glass-Steagall (i.e. GLB act):
http://www.pbs.org/wgbh/pages/frontline/shows/wallstreet/

and then there is ... discussion of off-balance items, recent (28nov08)

Stay away from Citigroup
http://www.bloggingstocks.com/2008/11/28/stay-away-from-citigroup-c/

from above:
Using household terms such as "QSPEs" and "VIEs," Pandit revealed that Citi has more than $1.2 trillion dollars in off-balance sheet assets. These off-balance sheet entities are similar in structure to Enron's SPVs (special purpose vehicles)

... snip ...

and from last summer

Citigroup's $1.1 Trillion of Mysterious Assets Shadows Earnings
http://www.bloomberg.com/apps/news?pid=20601109
http://www.bloomberg.com/apps/news?pid=20601109&refer=home&sid=a1liVM3tG3aI
Whither Citigroup's $1.1 Trillion of Off Balance Sheet Assets?
http://www.nakedcapitalism.com/2008/07/wither-citigroups-11-trillion-of-off.html

and discussion that QSPEs had been abused ... to carry lots of things like (triple-A rated) toxic CDOs.

Accounting for Special Purpose Entities Revised: FASB Interpretation 46(R)
http://www.nysscpa.org/cpajournal/2004/704/essentials/p30.htm
Bankers try to keep bad assets off books
http://www.azstarnet.com/business/266220
FASB's new QSPE rule implementation delayed
http://marketpipeline.blogspot.com/2008/07/fasbs-new-qspe-rule-implementation.html
FASB Renews Attempts to Amend QSPE Rules
http://www.complianceweek.com/article/5144/fasb-renews-attempts-to-amend-qspe-rules

from above:
That abuse became apparent when regulators provided guidance allowing banks to work out troubled loans held in off-balance-sheet structures without sacrificing off-balance-sheet accounting; that permission was the smoke signal indicating financial institutions were more involved in the assets than the accounting literature would intend to qualify for off-balance-sheet treatment.

... snip ...

Even though it should have never been allowed to begin with, this is another too big to fail scenario ... delaying correctly accounting for the assets. Citi had already won last year's "write-down" sweepsteaks with large tens of billions. If valuation is still 22cents on the dollar ... bringing back $1.2T onto the balance sheet would result in declaring nearly a $1T in losses.

Greenspan Slept as Off-Books Debt Escaped Scrutiny
http://www.bloomberg.com/apps/news?pid=newsarchive&refer=home&sid=aYJZOB_gZi0I

from above:
That same year Greenspan, Treasury Secretary Robert Rubin and SEC Chairman Arthur Levitt opposed an attempt by Brooksley Born, head of the Commodity Futures Trading Commission, to study regulating over-the-counter derivatives. In 2000, Congress passed a law keeping them unregulated.

A lot of the greed and corruption hotspots have been around for quite awhile, however a combination of deregulation and lax/limited regulation enforcement allowed them to combine together into economic firestorm.

Part of the issue from congressional hearings late last fall into securitization and rating agencies, was mis-aligned business process.

toxic CDOs had been used two decades ago during the S&L crisis w/o the current disastrous effects. A big difference is that the toxic CDOs now were getting triple-A ratings ... which enormously increased the institutions that would buy toxic CDOs and therefor the money available to loan originators (that were dependent on securitization as source of funds). It was also stated that both the toxic CDO issuers/sellers and the rating agencies knew that the toxic CDOs weren't worth triple-A ratings, but the rating agencies were being paid for the ratings.

In the hearings, the statement was that the seeds of this was sown in the early 70s when the rating agencies changed from the buyers paying for the ratings to the sellers paying for the ratings ... resulting in mis-aligned business process and opening the opportunity for conflict of interest.

The Man Who Beat The Shorts
http://www.forbes.com/forbes/2008/1117/114.html

from above:
Watsa's only sin was in being a little too early with his prediction that the era of credit expansion would end badly. This is what he said in Fairfax's 2003 annual report: "It seems to us that securitization eliminates the incentive for the originator of [a] loan to be credit sensitive. Prior to securitization, the dealer would be very concerned about who was given credit to buy an automobile. With securitization, the dealer (almost) does not care."

... snip ...

Previously loan origination was by institutions using deposits, which were highly regulated and influenced by things like the FEDs prime rate. With securitization, loan origination could be decoupled from traditional regulatory environment. No-documentation, no-down payment, 1% interest only payment ARMs became extremely attractive to speculators since the 1%/annum cost was significantly less than home inflation in many parts of the country (and were planning on flipping before rates adjusted). Those originating these loans didn't care since they immediately unloaded all loans they could write, as triple-A rated toxic CDOs.

some quotes from the Glass-Steagall hearings in the wake of crash of '29:
Reserve requirements of members banks should be changed so as to be based not solely upon volume of deposits but also upon rapidity of their turn-over, thus checking excessive speculation, say Eugene R. Black and Federal Reserve Board 7434-7435, 7436-7441, 7492-7493, 7495-7516

"Uncontrolled" because even where made indirectly through banks, reserves against such loans were not required and because completely unregulated, said Charles H. E. Scheer 6313

Brokers loans made by corporations aided to create speculative mania in years prior to 1929, testifies Otto H. Kahn 1010


... snip ...

There is an analogy between the "speculation mania" using "brokers loans" in the '20s and the current home market speculation bubble fueled by the no-doc, no-down, 1% interest only ARMs (made possible by securitization and triple-A ratings on toxic CDOs).

There is also an analogy between the "Uncontrolled loans made indirectly through banks" in the 20s and the financial institutions that were buying up triple-A rated toxic CDOs and carrying them off-balance.

...

Business news program just now mentioned that toxic assets of the kind that banks are carrying off-balance, are trading around 30cents on the dollar ... up from many that were unloaded last yr at 22cents on the dollar. For $1.2T (like citi is carrying off-balance) that would result in around $840B in losses.

Citi and Federal Govt. Reach Agreement Over Ownership Question; The federal government and Citigroup have made way for the possibility of a greater government stake in the bank.
http://www.financetech.com/news/showArticle.jhtml?articleID=215400004

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

Why do IBMers think disks are 'Direct Access'?

Refed: **, - **, - **, - **
From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: Why do IBMers think disks are 'Direct Access'?
Newsgroups: alt.folklore.computers
Date: Thu, 26 Feb 2009 18:52:33 -0500
hancock4 writes:
However, this decline lasted only about a decade or so, and then the pendulum swung the other way. Parents expected more from their kids and their schools and performance went up. Many parents who were kids in the 1970s say their kids--attending the same schools with the same teachers today--have it harder; discipline is stricter and classes are tougher, with more homework.

Personally, I'm glad academic standards have improved, but I don't agree with modern discipline. Certainly I think schools must be orderly without disruption. But schools can be very orderly without excessive strictness; we can have highway safety without citing speeders going merely 1 mph over the limit. Today, partly out of fear for lawsuits, kids will get 'written up' and formerly punished for trivial offenses that were seen as very minor years ago. That is, in the past a teacher would merely verbally correct a kid who had no hall pass or perhaps a minute late arriving to class; today it's an automatic writeup. What got a detention in the past now results in suspension.


some discussion from thread last year including US competitiveness:
http://www.garlic.com/~lynn/2008h.html#3 America's Prophet of Fiscal Doom

rate of scores dropping seems to have slowed down but not improving ... parts of older thread:
http://www.garlic.com/~lynn/2006p.html#21 SAT Reading and Math Scores Show Decline
http://www.garlic.com/~lynn/2006p.html#23 SAT Reading and Math Scores Show Decline
http://www.garlic.com/~lynn/2006p.html#24 SAT Reading and Math Scores Show Decline
http://www.garlic.com/~lynn/2006p.html#25 SAT Reading and Math Scores Show Decline
http://www.garlic.com/~lynn/2006p.html#33 SAT Reading and Math Scores Show Decline
http://www.garlic.com/~lynn/2006q.html#6 SAT Reading and Math Scores Show Decline
http://www.garlic.com/~lynn/2007h.html#42 Experts: Education key to U.S. competitiveness

a combination of the decline in US educational system and increasing competitiveness now places the US education system near the bottom of industrial nations.
http://www.garlic.com/~lynn/2007u.html#78 Education ranking
http://www.garlic.com/~lynn/2007u.html#80 Education ranking
http://www.garlic.com/~lynn/2007u.html#82 Education ranking
http://www.garlic.com/~lynn/2007v.html#16 Education ranking
http://www.garlic.com/~lynn/2007v.html#19 Education ranking
http://www.garlic.com/~lynn/2007v.html#38 Education ranking
http://www.garlic.com/~lynn/2007v.html#39 Education ranking
http://www.garlic.com/~lynn/2007v.html#44 Education ranking
http://www.garlic.com/~lynn/2007v.html#51 Education ranking
http://www.garlic.com/~lynn/2007v.html#71 Education ranking
http://www.garlic.com/~lynn/2008.html#39 competitiveness
http://www.garlic.com/~lynn/2008.html#52 Education ranking
http://www.garlic.com/~lynn/2008.html#55 Education ranking
http://www.garlic.com/~lynn/2008.html#60 Education ranking
http://www.garlic.com/~lynn/2008.html#62 competitiveness
http://www.garlic.com/~lynn/2008.html#81 Education ranking
http://www.garlic.com/~lynn/2008.html#83 Education ranking
http://www.garlic.com/~lynn/2008b.html#6 Science and Engineering Indicators 2008
http://www.garlic.com/~lynn/2008b.html#13 Education ranking
http://www.garlic.com/~lynn/2008e.html#61 Study Finds Sharp Math, Science Skills Help Expand Economy
http://www.garlic.com/~lynn/2008f.html#22 Study Finds Sharp Math, Science Skills Help Expand Economy

--
40+yrs virtualization experience (since Jan68), online at home since Mar70

How to defeat new telemarketing tactic

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From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: How to defeat new telemarketing tactic
Newsgroups: alt.folklore.computers
Date: Thu, 26 Feb 2009 19:41:40 -0500
Anne & Lynn Wheeler <lynn@garlic.com&> writes:
Stay away from Citigroup
http://www.bloggingstocks.com/2008/11/28/stay-away-from-citigroup-c/

from above:

Using household terms such as "QSPEs" and "VIEs," Pandit revealed that Citi has more than $1.2 trillion dollars in off-balance sheet assets. These off-balance sheet entities are similar in structure to Enron's SPVs (special purpose vehicles)


re:
http://www.garlic.com/~lynn/2009c.html#53 How to defeat new telemarketing tactic

Fed Loans Guided by Raters Grading Subprime Debt AAA
http://www.bloomberg.com/apps/news?pid=20601109
http://www.bloomberg.com/apps/news?pid=20601109&sid=ahpPBA8vqN2o&refer=home

from above (with reference to relying on three major credit rating companies):
It is foolhardy to rely on the three New York-based companies, said Keith Allman, chief executive officer of Enstruct Corp., which trains investors in financial modeling and asset valuation. The major raters issued top marks to $3.2 trillion in subprime mortgage-backed securities at the root of the financial crisis.

.. snip ...

Last night Cramer (some references to Cramer):
http://www.garlic.com/~lynn/2008k.html#4 dollar coins
http://www.garlic.com/~lynn/2008k.html#31 SEC bans illegal activity then permits it
http://www.garlic.com/~lynn/2008o.html#1 illegal naked short selling
http://www.garlic.com/~lynn/2008o.html#83 Chip-and-pin card reader supply-chain subversion 'has netted millions from British shoppers'
http://www.garlic.com/~lynn/2008p.html#8 Global Melt Down
http://www.garlic.com/~lynn/2008q.html#50 Obama, ACORN, subprimes (Re: Spiders)
http://www.garlic.com/~lynn/2008s.html#63 Garbage in, garbage out trampled by Moore's law

had the head of FDIC on his program. She mentioned that loan/mortgage origination (relying on securitization and triple-A rated toxic CDOs as source of funds) has essentially been shutdown ... so much of that unregulated activity is done (for the moment).

afterwards, Cramer did one of his rants on (illegal naked) short selling. Part of it may have been earlier in the day ... one of the tv business news shows had clip from somebody stating that if the gov. didn't give into their demands about no restrictions on capitalism they would take down the rest of the banks (apparently referring to use of short selling to destroy stock prices).

that statement may have had other repercussions, today one of the business tv news commentators said that we are experiencing a financial 9/11 and he couldn't understand why nothing was being done about the (financial) terrorists.

a little later, they interviewed somebody that mentioned that toxic assets (the kind that banks are carrying off-balance) are trading at 30cents on the dollar (this is up from the 22cents on the dollar a lot of them sold for last year). If citi's $1.2T were brought back on the books, that could mean taking a $840B loss.

then they interviewed an author of new book released today (only being published in electronic form) that discusses how all this happened. he made the statement that he generally liked watching their tv show ... but everytime they had somebody on attributing it (current financial mess) to CRA ... he wanted to throw something large at the TV screen.

past posts mentioning triple-A rated toxic CDOs:
http://www.garlic.com/~lynn/2008.html#66 As Expected, Ford Falls From 2nd Place in U.S. Sales
http://www.garlic.com/~lynn/2008.html#90 Computer Science Education: Where Are the Software Engineers of Tomorrow?
http://www.garlic.com/~lynn/2008b.html#75 Toyota Sales for 2007 May Surpass GM
http://www.garlic.com/~lynn/2008c.html#11 Toyota Sales for 2007 May Surpass GM
http://www.garlic.com/~lynn/2008d.html#85 Toyota Sales for 2007 May Surpass GM
http://www.garlic.com/~lynn/2008e.html#42 Banks failing to manage IT risk - study
http://www.garlic.com/~lynn/2008e.html#65 Banks failing to manage IT risk - study
http://www.garlic.com/~lynn/2008e.html#70 independent appraisers
http://www.garlic.com/~lynn/2008f.html#1 independent appraisers
http://www.garlic.com/~lynn/2008f.html#17 independent appraisers
http://www.garlic.com/~lynn/2008f.html#32 independent appraisers
http://www.garlic.com/~lynn/2008f.html#43 independent appraisers
http://www.garlic.com/~lynn/2008f.html#46 independent appraisers
http://www.garlic.com/~lynn/2008f.html#51 independent appraisers
http://www.garlic.com/~lynn/2008f.html#53 independent appraisers
http://www.garlic.com/~lynn/2008f.html#71 Bush - place in history
http://www.garlic.com/~lynn/2008f.html#75 Bush - place in history
http://www.garlic.com/~lynn/2008f.html#77 Bush - place in history
http://www.garlic.com/~lynn/2008f.html#79 Bush - place in history
http://www.garlic.com/~lynn/2008f.html#94 Bush - place in history
http://www.garlic.com/~lynn/2008g.html#4 CDOs subverting Boyd's OODA-loop
http://www.garlic.com/~lynn/2008g.html#32 independent appraisers
http://www.garlic.com/~lynn/2008g.html#37 Virtualization: The IT Trend That Matters
http://www.garlic.com/~lynn/2008g.html#44 Fixing finance
http://www.garlic.com/~lynn/2008g.html#51 IBM CEO's remuneration last year ?
http://www.garlic.com/~lynn/2008g.html#52 IBM CEO's remuneration last year ?
http://www.garlic.com/~lynn/2008g.html#59 Credit crisis could cost nearly $1 trillion, IMF predicts
http://www.garlic.com/~lynn/2008g.html#62 Credit crisis could cost nearly $1 trillion, IMF predicts
http://www.garlic.com/~lynn/2008g.html#64 independent appraisers
http://www.garlic.com/~lynn/2008h.html#1 subprime write-down sweepstakes
http://www.garlic.com/~lynn/2008h.html#28 subprime write-down sweepstakes
http://www.garlic.com/~lynn/2008h.html#32 subprime write-down sweepstakes
http://www.garlic.com/~lynn/2008h.html#48 subprime write-down sweepstakes
http://www.garlic.com/~lynn/2008h.html#49 subprime write-down sweepstakes
http://www.garlic.com/~lynn/2008h.html#89 Credit Crisis Timeline
http://www.garlic.com/~lynn/2008h.html#90 subprime write-down sweepstakes
http://www.garlic.com/~lynn/2008i.html#4 A Merit based system of reward -Does anybody (or any executive) really want to be judged on merit?
http://www.garlic.com/~lynn/2008i.html#30 subprime write-down sweepstakes
http://www.garlic.com/~lynn/2008i.html#64 Is the credit crunch a short term aberation
http://www.garlic.com/~lynn/2008i.html#77 Do you think the change in bankrupcy laws has exacerbated the problems in the housing market leading more people into forclosure?
http://www.garlic.com/~lynn/2008i.html#104 dollar coins
http://www.garlic.com/~lynn/2008j.html#3 dollar coins
http://www.garlic.com/~lynn/2008j.html#9 dollar coins
http://www.garlic.com/~lynn/2008j.html#12 To: Graymouse -- Ireland and the EU, What in the H... is all this about?
http://www.garlic.com/~lynn/2008j.html#15 What is "timesharing" (Re: OS X Finder windows vs terminal window weirdness)
http://www.garlic.com/~lynn/2008j.html#18 dollar coins
http://www.garlic.com/~lynn/2008j.html#22 dollar coins
http://www.garlic.com/~lynn/2008j.html#23 dollar coins
http://www.garlic.com/~lynn/2008j.html#38 dollar coins
http://www.garlic.com/~lynn/2008j.html#40 dollar coins
http://www.garlic.com/~lynn/2008j.html#46 dollar coins
http://www.garlic.com/~lynn/2008j.html#48 dollar coins
http://www.garlic.com/~lynn/2008j.html#51 dollar coins
http://www.garlic.com/~lynn/2008j.html#64 lack of information accuracy
http://www.garlic.com/~lynn/2008j.html#67 lack of information accuracy
http://www.garlic.com/~lynn/2008j.html#68 lack of information accuracy
http://www.garlic.com/~lynn/2008j.html#69 lack of information accuracy
http://www.garlic.com/~lynn/2008j.html#71 lack of information accuracy
http://www.garlic.com/~lynn/2008k.html#6 dollar coins
http://www.garlic.com/~lynn/2008k.html#10 Why do Banks lend poorly in the sub-prime market? Because they are not in Banking!
http://www.garlic.com/~lynn/2008k.html#11 dollar coins
http://www.garlic.com/~lynn/2008k.html#12 dollar coins
http://www.garlic.com/~lynn/2008k.html#13 dollar coins
http://www.garlic.com/~lynn/2008k.html#14 dollar coins
http://www.garlic.com/~lynn/2008k.html#16 dollar coins
http://www.garlic.com/~lynn/2008k.html#19 dollar coins
http://www.garlic.com/~lynn/2008k.html#20 IBM's 2Q2008 Earnings
http://www.garlic.com/~lynn/2008k.html#23 dollar coins
http://www.garlic.com/~lynn/2008k.html#27 dollar coins
http://www.garlic.com/~lynn/2008k.html#33 dollar coins
http://www.garlic.com/~lynn/2008l.html#42 dollar coins
http://www.garlic.com/~lynn/2008l.html#44 dollar coins
http://www.garlic.com/~lynn/2008l.html#67 dollar coins
http://www.garlic.com/~lynn/2008l.html#70 dollar coins
http://www.garlic.com/~lynn/2008m.html#12 Fraud due to stupid failure to test for negative
http://www.garlic.com/~lynn/2008m.html#15 Fraud due to stupid failure to test for negative
http://www.garlic.com/~lynn/2008m.html#16 Fraud due to stupid failure to test for negative
http://www.garlic.com/~lynn/2008m.html#26 Fraud due to stupid failure to test for negative
http://www.garlic.com/~lynn/2008m.html#76 When risks go south: FM&FM to be nationalized
http://www.garlic.com/~lynn/2008m.html#80 Fraud due to stupid failure to test for negative
http://www.garlic.com/~lynn/2008m.html#81 Fraud due to stupid failure to test for negative
http://www.garlic.com/~lynn/2008m.html#91 Blinkylights
http://www.garlic.com/~lynn/2008m.html#92 Blinkylights
http://www.garlic.com/~lynn/2008m.html#95 Blinkylights
http://www.garlic.com/~lynn/2008m.html#96 Blinkylights
http://www.garlic.com/~lynn/2008m.html#99 Blinkylights
http://www.garlic.com/~lynn/2008n.html#3 Blinkylights
http://www.garlic.com/~lynn/2008n.html#12 Blinkylights
http://www.garlic.com/~lynn/2008n.html#14 Blinkylights
http://www.garlic.com/~lynn/2008n.html#19 Blinkylights
http://www.garlic.com/~lynn/2008n.html#21 Michigan industry
http://www.garlic.com/~lynn/2008n.html#23 Michigan industry
http://www.garlic.com/~lynn/2008n.html#24 Blinkylights
http://www.garlic.com/~lynn/2008n.html#25 Blinkylights
http://www.garlic.com/~lynn/2008n.html#33 Blinkylights
http://www.garlic.com/~lynn/2008n.html#37 Success has many fathers, but failure has the US taxpayer
http://www.garlic.com/~lynn/2008n.html#40 Success has many fathers, but failure has the US taxpayer
http://www.garlic.com/~lynn/2008n.html#42 Blinkylights
http://www.garlic.com/~lynn/2008n.html#44 VMware Chief Says the OS Is History
http://www.garlic.com/~lynn/2008n.html#49 VMware Chief Says the OS Is History
http://www.garlic.com/~lynn/2008n.html#74 Why can't we analyze the risks involved in mortgage-backed securities?
http://www.garlic.com/~lynn/2008n.html#78 Isn't it the Federal Reserve role to oversee the banking system??
http://www.garlic.com/~lynn/2008n.html#88 Blinkylights
http://www.garlic.com/~lynn/2008n.html#94 Blinkylights
http://www.garlic.com/~lynn/2008n.html#95 Blinkylights
http://www.garlic.com/~lynn/2008o.html#15 Financial Crisis - the result of uncontrolled Innovation?
http://www.garlic.com/~lynn/2008o.html#18 Once the dust settles, do you think Milton Friedman's economic theories will be laid to rest
http://www.garlic.com/~lynn/2008o.html#19 What's your view of current global financial / economical situation?
http://www.garlic.com/~lynn/2008o.html#26 SOX (Sarbanes-Oxley Act), is this really followed and worthful considering current Financial Crisis?
http://www.garlic.com/~lynn/2008o.html#28 Does anyone get the idea that those responsible for containing this finanical crisis are doing too much?
http://www.garlic.com/~lynn/2008o.html#31 The human plague
http://www.garlic.com/~lynn/2008o.html#42 The human plague
http://www.garlic.com/~lynn/2008o.html#43 The human plague
http://www.garlic.com/~lynn/2008o.html#45 The human plague
http://www.garlic.com/~lynn/2008o.html#51 Why are some banks failing, and others aren't?
http://www.garlic.com/~lynn/2008o.html#52 Why is sub-prime crisis of America called the sub-prime crisis?
http://www.garlic.com/~lynn/2008o.html#62 Would anyone like to draw a diagram of effects or similar for the current "credit crisis"?
http://www.garlic.com/~lynn/2008o.html#65 Can the financial meltdown be used to motivate sustainable development in order to achieve sustainable growth and desired sustainability?
http://www.garlic.com/~lynn/2008o.html#68 Blinkenlights
http://www.garlic.com/~lynn/2008o.html#71 Why is sub-prime crisis of America called the sub-prime crisis?
http://www.garlic.com/~lynn/2008o.html#74 Would anyone like to draw a diagram of effects or similar for the current "credit crisis"?
http://www.garlic.com/~lynn/2008o.html#75 In light of the recent financial crisis, did Sarbanes-Oxley fail to work?
http://www.garlic.com/~lynn/2008o.html#78 Who murdered the financial system?
http://www.garlic.com/~lynn/2008o.html#80 Can we blame one person for the financial meltdown?
http://www.garlic.com/~lynn/2008o.html#82 Greenspan testimony and securization
http://www.garlic.com/~lynn/2008p.html#3 Blinkenlights
http://www.garlic.com/~lynn/2008p.html#8 Global Melt Down
http://www.garlic.com/~lynn/2008p.html#9 Do you believe a global financial regulation is possible?
http://www.garlic.com/~lynn/2008p.html#47 In Modeling Risk, the Human Factor Was Left Out
http://www.garlic.com/~lynn/2008p.html#60 Did sub-prime cause the financial mess we are in?
http://www.garlic.com/~lynn/2008p.html#70 Is there any technology that we are severely lacking in the Financial industry?
http://www.garlic.com/~lynn/2008q.html#11 Blinkenlights
http://www.garlic.com/~lynn/2008q.html#12 Blinkenlights
http://www.garlic.com/~lynn/2008q.html#19 Collateralized debt obligations (CDOs)
http://www.garlic.com/~lynn/2008q.html#20 How is Subprime crisis impacting other Industries?
http://www.garlic.com/~lynn/2008q.html#28 Blinkenlights
http://www.garlic.com/~lynn/2008q.html#32 I was wondering what types of frauds the audience think will increase?
http://www.garlic.com/~lynn/2008q.html#49 Have not the following principles been practically disproven, once and for all, by the current global financial meltdown?
http://www.garlic.com/~lynn/2008q.html#50 Obama, ACORN, subprimes (Re: Spiders)
http://www.garlic.com/~lynn/2008q.html#57 Blinkenlights
http://www.garlic.com/~lynn/2008q.html#58 Obama, ACORN, subprimes (Re: Spiders)
http://www.garlic.com/~lynn/2008q.html#68 Obama, ACORN, subprimes (Re: Spiders)
http://www.garlic.com/~lynn/2008q.html#69 if you are an powerful financial regulator , how would you have stopped the credit crunch?
http://www.garlic.com/~lynn/2008r.html#4 Basel Committee outlines plans to strengthen Basel II
http://www.garlic.com/~lynn/2008r.html#10 Blinkylights
http://www.garlic.com/~lynn/2008r.html#35 Blinkenlights
http://www.garlic.com/~lynn/2008r.html#58 Blinkenlights
http://www.garlic.com/~lynn/2008r.html#64 Is This a Different Kind of Financial Crisis?
http://www.garlic.com/~lynn/2008r.html#67 What is securitization and why are people wary of it ?
http://www.garlic.com/~lynn/2008s.html#8 Top financial firms of US are eyeing on bailout. It implies to me that their "Risk Management Department's" assessment was way below expectations
http://www.garlic.com/~lynn/2008s.html#9 Blind-sided, again. Why?
http://www.garlic.com/~lynn/2008s.html#20 Five great technological revolutions
http://www.garlic.com/~lynn/2008s.html#23 Garbage in, garbage out trampled by Moore's law
http://www.garlic.com/~lynn/2008s.html#24 Garbage in, garbage out trampled by Moore's law
http://www.garlic.com/~lynn/2008s.html#30 How reliable are the credit rating companies? Who is over seeing them?
http://www.garlic.com/~lynn/2008s.html#35 Is American capitalism and greed to blame for our financial troubles in the US?
http://www.garlic.com/~lynn/2008s.html#55 Is this the story behind the crunchy credit stuff?
http://www.garlic.com/~lynn/2008s.html#59 Garbage in, garbage out trampled by Moore's law
http://www.garlic.com/~lynn/2008s.html#60 Garbage in, garbage out trampled by Moore's law
http://www.garlic.com/~lynn/2009.html#14 What are the challenges in risk analytics post financial crisis?
http://www.garlic.com/~lynn/2009.html#15 What are the challenges in risk analytics post financial crisis?
http://www.garlic.com/~lynn/2009.html#21 Banks to embrace virtualisation in 2009: survey
http://www.garlic.com/~lynn/2009.html#31 Banks to embrace virtualisation in 2009: survey
http://www.garlic.com/~lynn/2009.html#32 What are the challenges in risk analytics post financial crisis?
http://www.garlic.com/~lynn/2009.html#42 Lets play Blame Game...?
http://www.garlic.com/~lynn/2009.html#52 The Credit Crunch: Why it happened?
http://www.garlic.com/~lynn/2009.html#63 CROOKS and NANNIES: what would Boyd do?
http://www.garlic.com/~lynn/2009.html#73 CROOKS and NANNIES: what would Boyd do?
http://www.garlic.com/~lynn/2009.html#74 CROOKS and NANNIES: what would Boyd do?
http://www.garlic.com/~lynn/2009.html#77 CROOKS and NANNIES: what would Boyd do?
http://www.garlic.com/~lynn/2009.html#79 The Credit Crunch: Why it happened?
http://www.garlic.com/~lynn/2009.html#80 Are reckless risks a natural fallout of "excessive" executive compensation ?
http://www.garlic.com/~lynn/2009b.html#1 Are Both The U.S. & UK on the brink of debt disaster?
http://www.garlic.com/~lynn/2009b.html#23 BarCampBank - informal finance rantathon in London
http://www.garlic.com/~lynn/2009b.html#25 The recently revealed excesses of John Thain, the former CEO of Merrill Lynch, while the firm was receiving $25 Billion in TARP funds makes me sick
http://www.garlic.com/~lynn/2009b.html#37 A great article was posted in another BI group: "To H*** with Business Intelligence: 40 Percent of Execs Trust Gut"
http://www.garlic.com/~lynn/2009b.html#49 US disaster, debts and bad financial management
http://www.garlic.com/~lynn/2009b.html#51 Will the Draft Bill floated in Congress yesterday to restrict trading of naked Credit Default Swaps help or aggravate?
http://www.garlic.com/~lynn/2009b.html#52 What has the Global Financial Crisis taught the Nations, it's Governments and Decision Makers, and how should they apply that knowledge to manage risks differently in the future?
http://www.garlic.com/~lynn/2009b.html#53 Credit & Risk Management ... go Simple ?
http://www.garlic.com/~lynn/2009b.html#54 In your opinion, which facts caused the global crise situation?
http://www.garlic.com/~lynn/2009b.html#57 Credit & Risk Management ... go Simple ?
http://www.garlic.com/~lynn/2009b.html#59 As bonuses...why breed greed, when others are in dire need?
http://www.garlic.com/~lynn/2009b.html#73 What can we learn from the meltdown?
http://www.garlic.com/~lynn/2009c.html#1 Audit II: Two more scary words: Sarbanes-Oxley
http://www.garlic.com/~lynn/2009c.html#38 People to Blame for the Financial Crisis
http://www.garlic.com/~lynn/2009c.html#39 'WHO IS RESPONSIBLE FOR THE GLOBAL MELTDOWN'
http://www.garlic.com/~lynn/2009c.html#55 Who will give Citigroup the KNOCKOUT blow?
http://www.garlic.com/~lynn/2009c.html#61 Accounting for the "greed factor"
http://www.garlic.com/~lynn/2009c.html#65 is it possible that ALL banks will be nationalized?

--
40+yrs virtualization experience (since Jan68), online at home since Mar70




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