News 2/17/15The banking industrys biggest cyber fearsCybercriminals have stolen up to $1 billion since late 2013 from banks across 30 countries, including the U.S., Russia, Europe and China, a computer security company says in the latest report to draw a red circle around the financial sector as a vulnerable target for hackers.
The majority of brokerages (88%) and financial advisers (74%) said they have experienced cyberattacks directly or through one or more of their vendors. But only a small portion of the more than 100 firms surveyed 15% of broker dealers and 9% of advisers guarantee theyll reimburse clients for losses related to a cyberattack, the Securities and Exchange Commission found.
--88% of brokerages have been victim of cyberattacks, only 15% admitted that they will guarantee funds lost to attacks
--74% of financial advisers have experienced attacks. 9% gaurantee funds.
Peachy
Greece intends to ask for extension Wednesday, says official Greece will seek an extension to its loan agreement from the rest of the eurozone Wednesday, an official with knowledge of the situation said...
The Greek government has so far insisted that budget cuts and economic overhauls mandated by the current rescue deal are hurting its economy and society and that the currency unions finance ministers havent offered sufficient leeway on implementing those measures.
--Sounds like a rumor to me. I'm not 100% convinced that all the sudden Tsipras will reconsider the extension without a restructuring of their debt.
7 charts that suggest the rising stock market may be wrongBut as the above chart, joined by the following charts, shows, investors often ignore disappointing economic information as a bull market progresses, just as they did before the previous two recessions. And when market prices just start building rapidly on themselves, without a strong economic platform or continued stimulus from the Federal Reserve, the market bubble that is created should eventually pop
--Retail sales are down, many commodities are down, corporate profits are down (post-tax), hourly wages for production workers are down, personal consumption expenditures (leaving out food and gas) are down which may or may not be signalling more deflation (which is terrible in fiat based currencies and leads to bankruptcy)