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So the media starts to scare us about illegal texting. Oh no! Lets make all chat apps non-secure so the bankers can no longer chat illegally anymore

J-dawg 10y ago
That was my first thought as well. Look out for more "[unpopular group] uses [encrypted service] to break the rules" articles coming soon.
- lomnakkus 10y ago
  Well, it is an easy way to "sell" these things... Anyway, I've got two: paedophiles and terrorist. Apparently, traders have now joined that elite. I'm just surprised bankers didn't make it there first... given the public sentiment. (I'm not sure I have any position (heh) on the matter myself.)
  - strictfp 10y ago
    And techies! /s
    - lomnakkus 10y ago
      Indeed, we really are all awful people. /s
  - ctack 10y ago
    Texting while driving does actually kill, but there is a less definable/unpopular "them" to target.
    - narrator 10y ago
      That, and encrypted texting while driving is just as dangerous as unencrypted texting while driving.
    - krylon 10y ago
      In that case, however, it does not matter if the messages are encrypted or not.
ccvannorman 10y ago
Hey, this is a big deal. Bankers used to be above-board, even role models for ethics and legality. SnapChat has allowed them to be come corrupt. /s
CaptainZapp 10y ago
Actually that's a pretty big deal. Financial institutions have far more stringent rules than an average company regarding communications. Analysts must be shielded by "Chinese walls" from traders. Just imagine what a trader can do if he gets a 20 minute head start (or just a few pertinent bullet points) of an influential report, which is about to be published. Look up 'front running' for details. Communications within financial companies and between banks and outside entities are pretty heavily regulated. And for very good reason.
- whatupmd 10y ago
  You are right that financial crimes are a big deal. However the solution to criminality is not to create a surveillance state.
  - wadeboggs 10y ago
    I mean it's one solution. What is the solution?
    - na85 10y ago
      To disincentivize huge salaries for people who create zero value, and just move money from point A to point B.
      - dagw 10y ago
        Moving something that is currently at A but should be at B absolutely creates value.
        ue_ 10y ago
        Well, depends on your definition of value. In Marxian economics, with the exception of natural resource, value is created by labour, and commodities have both a use value and exchange value.

J-dawg 10y ago

That was my first thought as well. Look out for more "[unpopular group] uses [encrypted service] to break the rules" articles coming soon.

lomnakkus 10y ago
Well, it is an easy way to "sell" these things... Anyway, I've got two: paedophiles and terrorist. Apparently, traders have now joined that elite. I'm just surprised bankers didn't make it there first... given the public sentiment. (I'm not sure I have any position (heh) on the matter myself.)
- strictfp 10y ago
  And techies! /s
  - lomnakkus 10y ago
    Indeed, we really are all awful people. /s
- ctack 10y ago
  Texting while driving does actually kill, but there is a less definable/unpopular "them" to target.
  - narrator 10y ago
    That, and encrypted texting while driving is just as dangerous as unencrypted texting while driving.
  - krylon 10y ago
    In that case, however, it does not matter if the messages are encrypted or not.

ccvannorman 10y ago

Hey, this is a big deal. Bankers used to be above-board, even role models for ethics and legality. SnapChat has allowed them to be come corrupt. /s

CaptainZapp 10y ago

Actually that's a pretty big deal. Financial institutions have far more stringent rules than an average company regarding communications. Analysts must be shielded by "Chinese walls" from traders. Just imagine what a trader can do if he gets a 20 minute head start (or just a few pertinent bullet points) of an influential report, which is about to be published. Look up 'front running' for details. Communications within financial companies and between banks and outside entities are pretty heavily regulated. And for very good reason.

whatupmd 10y ago
You are right that financial crimes are a big deal. However the solution to criminality is not to create a surveillance state.
- wadeboggs 10y ago
  I mean it's one solution. What is the solution?
  - na85 10y ago
    To disincentivize huge salaries for people who create zero value, and just move money from point A to point B.
    - dagw 10y ago
      Moving something that is currently at A but should be at B absolutely creates value.
      - ue_ 10y ago
        Well, depends on your definition of value. In Marxian economics, with the exception of natural resource, value is created by labour, and commodities have both a use value and exchange value.