Equifax breach exposes 143 million people to identity theft

A fund manager pointed out something very interesting on CNBC yesterday. Equifax choose to release news of this hack after the market closed Friday a week ago. Why? One can only guess (but one guess could be to keep the market from having a violent reaction; giving a weekend for the news to "dissipate" before Monday morning at 9:30).

Yesterday, again after the market closed for the weekend, they announced the "retirement" of some top managers.

Why should Equifax be permitted to exist? No reason I can think of. By the way, who will actually pay for this mess? The stockholders (not including the managers who, completely coincidentally, sold before the news was made public).

Equif*x
 
A fund manager pointed out something very interesting on CNBC yesterday. Equifax choose to release news of this hack after the market closed Friday a week ago. Why? One can only guess (but one guess could be to keep the market from having a violent reaction; giving a weekend for the news to "dissipate" before Monday morning at 9:30).

Yesterday, again after the market closed for the weekend, they announced the "retirement" of some top managers.
To be fair, it is fairly common practice for companies, as well as political organizations, to announce bad news late Friday and good news early Monday.

That said, Equifax has handled every step along the way from their initial security through the various steps following discovery and notification, very poorly. The cumulative effect of these blunders is to obliterate any confidence one may have had that this company is being managed by competent people and is a trustworthy repository of confidential data.
 
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And it appears the 143 million hack was the second to another one they also never disclosed. What a cluster ****!!!!
 
Listen, it's fine. Just keep your credit to debt ratio (DTI) around 45% and nobody will want to steal your identity. Borrow money at a lower rate and invest in something lucrative, like lead ingots.

BUT here's what has prevented me from falling to gas station skimmers:

Get a Shell Debit Card. It uses ACH drafts from a checking account, but it's limited to just Shell station purchases. I actually opened a free, separate checking account at my bank that we deposit money for fuel in each month. There's no way someone is gonna bilk my entire paycheck that way.

There's no fee associated with it, and there's really no risk. You create your own PIN. No risk of someone stealing your debit card and going on a Best Buy shopping spree.

Plus It gives you a 2 cents per gallon discount every time you use it for fuel. FWIW Shell is an excellent product with stations in almost every state. You can also sign up for Fuel Rewards and get another 5-up cents per gallon off. Been using both for years:

http://www.shell.us/motorist/ways-to-pay/shell-saver-card.html

http://www.shell.us/motorist/ways-to-save/fuel-rewards-program.html
 
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Listen, it's fine. Just keep your credit to debt ratio (DTI) around 45% and nobody will want to steal your identity. Borrow money at a lower rate and invest in something lucrative, like lead ingots.

BUT here's what has prevented me from falling to gas station skimmers:

Get a Shell Debit Card. It gives you a 2 cents per gallon discount every time you use it. Shell is an excellent product with stations in almost every state. You can also sign up for Fuel Rewards and get another 5-up cents per gallon off. Been using both for years:

If someone broke into my house to steal money I'd just laugh and help them look.


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To be fair, it is fairly common practice for companies, as well as political organizations, to announce bad news late Friday and good news early Monday.

That said, Equifax has handled every step along the way from their initial security through the various steps following discovery and notification, very poorly. The cumulative effect of these blunders is to obliterate any confidence one may have had that this company is being managed by competent people and is a trustworthy repository of confidential data.
Just like the US Government has their weekly info dumps as DC heads out of town.
 
CEO has retired. Nothing to do with this massive clusterf*ck, he just wants to spend more time with his family. :rolleyes:

Hopefully they will start taking steps to communicate helpful information to people.

This breach will have fallout for YEARS to come because it's unlike past data breaches where you can simply change your compromised password. People aren't changing their names and cannot change their social security number. So with that data trading hands among criminals who traffic in stolen personal data, identity theft will be occurring for years.
 
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CEO has retired. Nothing to do with this massive clusterf*ck, he just wants to spend more time with his family. :rolleyes:
It is an unfortunate reality, but in AmeriKa, it is often the psychopath that gets elevated to the pinnacles of corporate power. One thing about a psychopath is they can and will, lie, oftentimes convincingly, without a second thought.
 
I'd like to see the guy keep company with Bernie Madoff in uptheButner.
 
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