Hugh Pickens DOT Com - Slashdot User

Submission + - Why Only One Top Banker Went to Jail for the Financial Crisis

Submitted by Hugh Pickens DOT Com on Tuesday May 06, 2014 @05:15PM

Hugh Pickens DOT Com writes: After the savings-and-loan scandals of the 1980s, the FBI opened 5,490 criminal investigations, 1,100 people were prosecuted, and 839 were convicted, including top executives at many of the largest failed banks. But Jesse Eisinger writes in the NYT that the largest man-made economic catastrophe since the Depression resulted in the jailing of a single investment banker, Kareem Serageldin, to 30 months in jail. Many assume that federal authorities simply lacked the guts to go after powerful Wall Street bankers but according to Eisinger, the truth is more complicated. "During the past decade, the Justice Department suffered a series of corporate prosecutorial fiascos, which led to critical changes in how it approached white-collar crime. The department began to focus on reaching settlements rather than seeking prison sentences, which over time unintentionally deprived its ranks of the experience needed to win trials against the most formidable law firms."

From 2004 to 2012, the Justice Department reached 242 deferred and nonprosecution agreements with corporations, compared with 26 in the previous 12 years, and while companies paid huge sums in the settlements, several veteran Justice Department officials say that these settlements emboldened defense lawyers. More crucially, they allowed the Justice Department’s lawyers to “succeed” without learning how to develop important prosecutorial skills. The erosion of the department’s actual trial skills soon became apparent. In November 2009, the U.S. attorney’s office in Brooklyn lost the first criminal case of the crisis against two Bear Stearns executives accused of misleading investors. The prosecutors rushed into trial, failing to prepare for the exculpatory emails uncovered by the defense team. After two days, the jury acquitted the two money managers. “For sure, it put a chill” on investigations says one former prosecutor. “Politicos care about winning and losing.” Federal prosecutors have their own explanation for how only one Wall Street executive landed in jail in the wake of the financial crisis, says Eisinger. "The cases were complex to investigate and would have been infernally difficult to explain to juries."

Submission + - US Climate Report Says Global Warming Impact Already Severe

Submitted by Hugh Pickens DOT Com on Tuesday May 06, 2014 @09:28AM

Hugh Pickens DOT Com writes: Darryl Fears reports in the Washington Post that according to the government’s newest national assessment of climate change, Americans are already feeling the effects of global warming. “For a long time we have perceived climate change as an issue that’s distant, affecting just polar bears or something that matters to our kids," says Katharine Hayhoe, a Texas Tech University professor and lead co-author of the changing climate chapter of the assessment. "This shows it’s not just in the future; it matters today. Many people are feeling the effects.” The assessment carves the nation into sections and examines the impacts: More sea-level rise, flooding, storm surge, precipitation and heat waves in the Northeast; frequent water shortages and hurricanes in the Southeast and Caribbean; more drought and wildfires in the Southwest. "Residents of some coastal cities see their streets flood more regularly during storms and high tides. Inland cities near large rivers also experience more flooding, especially in the Midwest and Northeast. Insurance rates are rising in some vulnerable locations, and insurance is no longer available in others. Hotter and drier weather and earlier snow melt mean that wildfires in the West start earlier in the spring, last later into the fall, and burn more acreage. In Arctic Alaska, the summer sea ice that once protected the coasts has receded, and autumn storms now cause more erosion, threatening many communities with relocation." The report concludes that over recent decades, climate science has advanced significantly and that increased scrutiny has led to increased certainty that we are now seeing impacts associated with human-induced climate change. "What is new over the last decade is that we know with increasing certainty that climate change is happening now. While scientists continue to refine projections of the future, observations unequivocally show that climate is changing and that the warming of the past 50 years is primarily due to human-induced emissions of heat-trapping gases. These emissions come mainly from burning coal, oil, and gas, with additional contributions from forest clearing and some agricultural practices."

Submission + - Students Remember Lectures Better Taking Notes Longhand Than Using Laptops

Submitted by Hugh Pickens DOT Com on Monday May 05, 2014 @10:01AM

Hugh Pickens DOT Com writes: Walk into any university lecture hall and you're likely to see row upon row of students sitting behind glowing laptop screens. Laptops in class have been controversial, due mostly to the many opportunities for distraction that they provide (online shopping, browsing Reddit, or playing solitaire, just to name a few). But few studies have examined how effective laptops are for the students who diligently take notes. Now Robinson Meyer writes at The Atlantic that a new study finds that people remember lectures better when they’ve taken handwritten notes, rather than typed ones. The research suggests that even when laptops are used solely to take notes, they may still be impairing learning because their use results in shallower processing. "Our new findings suggest that even when laptops are used as intended — and not for buying things on Amazon during class — they may still be harming academic performance," says psychological scientist Pam Mueller of Princeton University, lead author of the study. Laptop note takers’ tendency to transcribe lectures verbatim rather than processing information and reframing it in their own words is detrimental to learning. If you can type quickly enough, word-for-word transcription is possible, whereas writing by hand usually rules out capturing every word. “We don’t write longhand as fast as we type these days, but people who were typing just tended to transcribe large parts of lecture content verbatim,” says Mueller. “The people who were taking notes on the laptops don’t have to be judicious in what they write down.”

Submission + - Scientists Race To Develop Farm Animals That Can Survive Climate Change

Submitted by Hugh Pickens DOT Com on Sunday May 04, 2014 @09:44PM

Hugh Pickens DOT Com writes: Evan Halper writes in the LA Times that with efforts to reduce carbon emissions lagging, researchers, backed by millions of dollars from the federal government, are looking for ways to protect key industries from the impact of climate change by racing to develop new breeds of farm animals that can stand up to the hazards of global warming. ""We are dealing with the challenge of difficult weather conditions at the same time we have to massively increase food production" to accommodate larger populations and a growing demand for meat, says Agriculture Secretary Tom Vilsack. For example a team of researchers is trying to map the genetic code of bizarre-looking African naked-neck chickens to see if their ability to withstand heat can be bred into flocks of US broilers. "The game is changing since the climate is changing," says Carl Schmidt. "We have to start now to anticipate what changes we have to make in order to feed 9 billion people," citing global-population estimates for 2050.

Warmer temperatures can create huge problems for animals farmed for food. Turkeys are vulnerable to a condition that makes their breast meat mushy and unappetizing. Disease rips through chicken coops. Brutal weather can claim entire cattle herds. Some climate experts, however, question the federal government's emphasis on keeping pace with a projected growing global appetite for meat. Because raising animals demands so many resources, the only viable way to hit global targets for greenhouse gas reduction may be to encourage people to eat less meat and point to an approach backed by Microsoft founder Bill Gates that takes animals out the process altogether. "There's no way to produce enough meat for 9 billion people," says Bill Gates. "Yet we can't ask everyone to become vegetarians. We need more options for producing meat without depleting our resources."

Submission + - Tennessee to Jail Women Who Use Drugs During Pregnancy

Submitted by Hugh Pickens DOT Com on Sunday May 04, 2014 @12:46PM

Hugh Pickens DOT Com writes: Tony Gonzalez reports in USA Today that Tennessee has become the first state with legislation that will criminally charge women who use drugs while pregnant with assault for harm done to their infants. Tennessee officials have wrestled with what to do about the growing numbers of infants born dependent on drugs (921 in Tennessee in 2013) and who often suffer from a condition known as neonatal abstinence syndrome. The legislation would allow mothers to avoid criminal charges if they get into one of the state's few treatment programs. Governor Bill Haslam says he wants doctors to encourage women to get into treatment before delivering their babies so they can avoid charges. "The intent of this bill is to give law enforcement and district attorneys a tool to address illicit drug use among pregnant women through treatment programs," says Haslam.

Seventeen states already consider drug use during pregnancy as child abuse and in three of them — Minnesota, South Dakota and Wisconsin — it is grounds for civil commitment (e.g. forced enrollment in treatment programs). In 15 states, health-care providers are required to report suspected abuse and, in four of those states, they are then also required to test for drug exposure of the child. Eighteen states have treatment programs targeted at pregnant women. Opponents of the bill, including five national medical organizations and local doctors who treat pregnant women, worry that criminalization will scare women away from treatment. "This law separates mothers from their children and is not patient-centered," says Cherisse A. Scott. "Tennessee families who are already being hit the hardest by policies such as the failure to expand Medicaid, poverty and a lack of available drug treatment facilities will be most deeply impacted by this bill."

Submission + - U-2 Caused Widespread Shutdown of US Flights out of LAX 2

Submitted by Hugh Pickens DOT Com on Saturday May 03, 2014 @08:31PM

Hugh Pickens DOT Com writes: Reuters reports that last week's computer glitch at a California air traffic control center that led officials to halt takeoffs at Los Angeles International Airport was caused by a U-2 spy plane still in use by the US military, passing through air space monitored by the Los Angeles Air Route Traffic Control Center that appears to have overloaded ERAM, a computer system at the center. According to NBC News, computers at the center began operations to prevent the U-2 from colliding with other aircraft, even though the U-2 was flying at an altitude of 60,000 feet and other airplanes passing through the region's air space were miles below. FAA technical specialists resolved the specific issue that triggered the problem on Wednesday, and the FAA has put in place mitigation measures as engineers complete development of software changes,” said the agency in a statement. “The FAA will fully analyze the event to resolve any underlying issues that contributed to the incident and prevent a reoccurrence.” The U.S. Air Force is still flying U-2s, but plans to retire them within the next few years. The U-2 was slated for retirement in 2006 in favor of the unmanned Global Hawk Block 30 system, before the Air Force pulled an about-face two years ago and declared the Global Hawk too expensive and insufficient for the needs of combatant commanders.

Submission + - Steve Jobs Defied Convention, and Perhaps the Law

Submitted by Hugh Pickens DOT Com on Friday May 02, 2014 @10:42PM

Hugh Pickens DOT Com writes: James B. Stewart writes in the NYT that recent revelations that Steve Jobs was the driving force in a conspiracy to prevent competitors from poaching employees raises the question: If Steve Jobs were alive today, should he be in jail? Jobs “was a walking antitrust violation. I’m simply astounded by the risks he seemed willing to take,” says Herbert Hovenkamp, a professor at the University of Iowa College of Law and an expert in antitrust law. "Didn’t he have lawyers advising him? You see this kind of behavior sometimes in small, private or family-run companies, but almost never in large public companies like Apple.” In 2007, Jobs threatened Palm with patent litigation unless Palm agreed not to recruit Apple employees, even though Palm’s then-chief executive, Edward Colligan, told him that such a plan was “likely illegal.” That same year, Jobs wrote Eric E. Schmidt, the chief executive of Google at the time, “I would be extremely pleased if Google would stop doing this,” referring to its efforts to recruit an Apple engineer. When Jobs learned that the Google recruiter who contacted the Apple employee would be “fired within the hour,” he responded with a smiley face. "How could anyone have approved that?” says Hovenkamp. “Any competent antitrust counsel would know that’s illegal. And they had to know they’d get caught eventually.”

But the anti-poaching pact was hardly Jobs’s only brush with the law. Jobs behavior was at the center of an e-book price-fixing conspiracy with major publishers where a federal judge ruled that “Apple played a central role in facilitating and executing that conspiracy.” (Apple has appealed the decision. The publishers all settled the case.) Jobs also figured prominently in the options backdating scandal that rocked Silicon Valley eight years ago. An investigation by Apple’s lawyers cleared Jobs of wrongdoing, saying he didn’t understand the accounting implications but five executives of other companies went to prison for backdating options, while Jobs was never charged.

There’s no way of knowing whether Jobs, had he lived and been healthy, would have faced charges, especially since he was a recidivist. Given Jobs’s immense popularity, prosecutors might not have wanted to risk a trial, says Hovenkamp. Jobs probably came closest to being prosecuted in the backdating scandal, but by then he was already known to have pancreatic cancer. Jobs' biographer Walter Isaacson notes that “over and over, people referred to his reality distortion field.” Isaacson added, “The rules just didn’t apply to him, whether he was getting a license plate that let him use handicapped parking or building products that people said weren’t possible. Most of the time he was right, and he got away with it.”

Submission + - Microsoft Should Not Patch the XP Internet Explorer Flaw

Submitted by Hugh Pickens DOT Com on Friday May 02, 2014 @01:49PM

Hugh Pickens DOT Com writes: Sebastian Anthony writes that Microsoft is setting an awful precedent by caving and issuing a fix for Windows XP. "Yes, tardy governments and IT administrators can breathe a little easier for a little bit longer," writes Anthony, "and yes, your mom and dad are yet again safe to use their old Windows XP beige box. But to what end? It’s just delaying the inevitable." Lance Ulanoff argues that Microsoft can’t turn a blind eye the security of XP users, even though the company ended support for the 12-year-old operating system on April 8, a fact that Microsoft has been warning about for, literally, years. But this won’t be the only vulnerability found in XP says Dwight Silverman. "If Microsoft makes an exception now, what about the flaw found after this one? And the next? And the one after that, ad infinitum?" Even though Microsoft has released a patch for the IE flaw, and Windows XP is included, it’s time to move on – really. "I don’t want to hear that tired “if it ain’t broke, don’t fix it” line. Hey, XP IS broke, and it will just get more so over time. Upgrade to a newer version of Windows, or switch to another modern operating system, such as OS X or Linux."

Submission + - Why Donald Sterling and the Clippers Face an Economic Death Spiral

Submitted by Hugh Pickens DOT Com on Thursday May 01, 2014 @06:46PM

Hugh Pickens DOT Com writes: Joshua Green writes in Businessweek that since NBA Commissioner Adam Silver dropped the hammer on Los Angeles Clippers owner Donald Sterling, banning him from the league for life and fining him $2.5 million for the racist rant he delivered to his mistress, the economics of holding on to the Clippers will almost certainly force Sterling to sell the team. Silver hopes that 75 percent of the the owners of the NBA’s other 29 teams will vote to force Sterling to sell the Clippers but if they don't simple economics will quickly diminish the current $575 million value of Sterling's franchise. Since Sterling’s comments became public many of the team’s revenue sources have evaporated. According to Ira Boudway, sixteen corporate sponsors have terminated or suspended their affiliation with the Clippers. Ticket sales, another important source of revenue, are also drying up. "One could reasonably assume that a Clippers team owned by Sterling, even in absentia, would see its marquee players, such as Blake Griffin, bolt for another team as soon as they were able and find it impossible to lure brand-name free agents to replace them," says Green. "This would give fans even less of a reason to show up or tune in." In short, Sterling would face a rapid economic death spiral. " I doubt that even Donald Sterling is stubborn enough to let that happen."

Submission + - Supreme Court Dims the Lights on Coal Power

Submitted by Hugh Pickens DOT Com on Wednesday April 30, 2014 @09:27PM

Hugh Pickens DOT Com writes: Bloomberg reports that in a 6-to-2 decision the Supreme Court has affirmed the Environmental Protection Agency’s authority to regulate air pollution from coal-burning power plants across state lines handing the Obama administration what is arguably its biggest environmental victory in its effort to use the Clean Air Act as a tool to fight global warming and reduce carbon emissions. “Today’s Supreme Court decision means that millions of Americans can breathe easier,” says Fred Krupp, president for the Environmental Defense Fund (EDF), which was a party to the case. At issue was whether the EPA could use what are known as good-neighbor rules to regulate emissions that cross state borders. In short, the Supreme Court ruled that a power plant in Ohio whose emissions blow east into New York is liable for the damage caused there, even if it’s hundreds of miles away from the source. Utilities must now weigh the high costs of cleaning up their coal operations against simply shutting them down and given the cheap price of natural gas, the decision is likely to push utilities into building new natural gas-fired power plants. By 2020, the Energy Information Administration estimates, 60 gigawatts of coal-fired power production will be retired—about 20 percent of the total amount of coal-fired capacity in the U.S. If anything, the Supreme Court will quicken that pace of retirements.

Coal is nonetheless expected to make up 32 percent of US electricity production in 2040 and coal's outlook is even better abroad, where China, India, and other rapidly expanding economies are eager customers for the inexpensive fuel. World coal consumption is expected to rise at an average rate of 1.3 percent per year through 2040, according to EIA. Republicans in Congress denounced the decision. “The administration’s overreaching regulation will drive up energy costs and threaten jobs and electric reliability," say Representatives Fred Upton and Edward Whitfield. "We cannot allow E.P.A.’s aggressive regulatory expansion to go unchecked. We will continue our oversight of the agency and our efforts to protect American families and workers from E.P.A.’s onslaught of costly rules.”

Submission + - US Should Use Trampolines to Get Astronauts to the ISS Suggests Russian Official

Submitted by Hugh Pickens DOT Com on Wednesday April 30, 2014 @10:38AM

Hugh Pickens DOT Com writes: The Washington Post reports that Russia's Deputy Prime Minister Dmitry Rogozin has lashed out again, this time at newly announced US ban on high-tech exports to Russia suggesting that "after analyzing the sanctions against our space industry, I propose the US delivers its astronauts to the ISS with a trampoline." Rogozin does actually have a point, although his threats carry much less weight than he may hope. Russia is due to get a $457.9 million payment for its services soon and few believe that Russia would actually give it up. Plus, as Jeffrey Kluger noted at Time Magazine, Russia may not want to push the United States into the hands of SpaceX and Orbital Sciences, two private American companies that hope to be able to send passengers to the station soon. SpaceX and Orbital Sciences have already made successful unmanned resupply runs to the ISS and both are also working on upgrading their cargo vehicles to carry people. SpaceX is currently in the lead and expects to launch US astronauts, employed by SpaceX itself, into orbit by 2016. NASA is building its own heavy-lift rocket for carrying astronauts beyond low-Earth orbit, but it won’t be ready for anything but test flights until after 2020. "That schedule, of course, could be accelerated considerably if Washington gave NASA the green light and the cash," says Kluger. "America’s manned space program went from a standing start in 1961 to the surface of the moon in 1969—eight years from Al Shepard to Tranquility Base. The Soviet Union got us moving then. Perhaps Russia will do the same now."

Submission + - SEC Chair to Congress: 'The Markets Are Not Rigged'

Submitted by Hugh Pickens DOT Com on Tuesday April 29, 2014 @11:25PM

Hugh Pickens DOT Com writes: Reuters reports that US Securities and Exchange Commission Chair Mary Jo White told a US House of Representatives panel that she flatly rejected claims that retail investors are being fleeced by high-frequency traders who can use their speed to jump ahead with buy and sell orders that fetch better prices. "The markets are not rigged," says White. "The U.S. markets are the strongest and most reliable in the world." White's comments to the House Financial Services Committee mark the first time she has directly responded to allegations in Michael Lewis' new book "Flash Boys: A Wall Street Revolt" that high-speed traders are engaged in a form of front-running, in which the firms are able to quickly identify an investor's desire to buy a stock, rush to buy it first and then sell it back at a higher price. The SEC has been reviewing equity market structure issues, particularly following the May 6, 2010 flash crash incident when the Dow Jones Industrial Average sharply plunged before quickly rebounding. Although staff at SEC are considering whether to launch some pilot studies to test different regulatory proposals, there are no immediate plans to issue rules to crack down on high-speed trading or trading in unlit markets. "I want to be very clear that the market metrics suggest that the retail investor is very well-served by the current market structure."

Submission + - MIT Students Plan Campus-Wide Bitcoin Distribution

Submitted by Hugh Pickens DOT Com on Tuesday April 29, 2014 @12:13PM

Hugh Pickens DOT Com writes: The Boston Globe reports that two MIT students have raised half a million dollars for a project to distribute $100 in bitcoin to every undergraduate student at MIT this fall aimed at creating an ecosystem for digital currencies at MIT. “Right now there is not a geographic place that you can go to and assume that people have relatively broad access to bitcoin,” says Daniel Elitzer, suggesting that that could change with their experiment, which might make for an interesting case study. “What might the world look like if bitcoin, or something like bitcoin, were widely accepted?” The bulk of funding for the project is being provided by MIT alumni who plan to distribute the $500,000 already pledged to all 4,528 undergraduates. Plans for the MIT Bitcoin Project involve a range of activities, including working with professors and researchers across the Institute to study how students use the bitcoin they receive, as well as spurring academic and entrepreneurial activity within the university in the field. “Giving students access to cryptocurrencies is analogous to providing them with internet access at the dawn of the internet era,” says Jeremy Rubin, a sophomore studying computer science at MIT. When the distribution happens this fall, it will make the MIT campus the first place in the world where it will be possible to assume widespread access to Bitcoin. “Everybody has access to the Internet, right — so you want to launch a webapp? Everybody can do that. You want to launch a bitcoin or cryptocurrency app? That’s a little bit harder you can’t test it in your immediate friend group. But hopefully [that’s] what we’ll enable.”

Comment TRS-80 Model II Used 8" Floppies (Score 1) 481

by Hugh Pickens DOT Com on Tuesday April 29, 2014 @10:30AM (#46867833) Attached to: US Nuclear Missile Silos Use Safe, Secure 8" Floppy Disks

The TRS-80 Model II was the business version of the early Radio Shack computers.

We bought one in 1979 and used it for for five years until we bought one of the first Macs in 1984.

The Model II had a word processor, database, and spreadsheet program.

http://www.trs-80.com/wordpres...

Submission + - US Nuclear Missile Silos Use Safe and Secure Technology - 8" Floppy Disks

Submitted by Hugh Pickens DOT Com on Tuesday April 29, 2014 @12:33AM

Hugh Pickens DOT Com writes: Sean Gallagher writes that the government built facilities for the Minuteman missiles in the 1960s and 1970s and although the missiles have been upgraded numerous times to make them safer and more reliable, the bases themselves haven't changed much and there isn't a lot of incentive to upgrade them. ICBM forces commander Maj. Gen. Jack Weinstein told Leslie Stahl from "60 Minutes" that the bases have extremely tight IT and cyber security, because they're not Internet-connected and they use such old hardware and software. “A few years ago we did a complete analysis of our entire network,” says Weinstein. “Cyber engineers found out that the system is extremely safe and extremely secure in the way it's developed.” While on the base, missileers showed Stahl the 8-inch floppy disks, marked “Top Secret,” which is used with the computer that handles what was once called the Strategic Air Command Digital Network (SACDIN), a communication system that delivers launch commands to US missile forces. Later, in an interview with Weinstein, Stahl described the disk she was shown as "gigantic," and said she had never seen one that big. Weinstein explained, "Those older systems provide us some, I will say, huge safety, when it comes to some cyber issues that we currently have in the world."

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