New submitter InPursuitOfTruth writes with news that the Obama administration has been circulating a draft of an executive order focused on cybersecurity. This follows the recent collapse of an attempt at cybersecurity legislation in the Senate. According to people who have seen the draft, the order would codify standards and best practices for critical infrastructure. That said, it's questionable how effective it would be, since participation would be voluntary, and the standards would be set by "an inter-agency council that would be led by the Department of Homeland Security." The other agencies involved would include NIST, the DoD, and the Commerce Dept. "It would be left up to the companies to decide what steps they want to take to meet the standards, so the government would not dictate what type of technology or strategy they should adopt."

An anonymous reader writes with this excerpt from Wired: "Former Goldman Sachs programmer Sergey Aleynikov, who downloaded source code for the investment firm's high-speed trading system from the company's computers, was wrongly charged with theft of property because the code did not qualify as a physical object under a federal theft statute, according to a court opinion published Wednesday." Adds the submitter: "The RIAA's definitely got to give Goldman Sachs their secret recipe ..."