This is the logic of all the hardcore anti-encryption people in this thread:
Durrr, public-private key encryption is useless because integer factorization is Turing computable! Therefore all secure communication should be carried out via hand-passed notes!
Good thing JoelKatz wasn't the one running MtGox or he would've stored all the passwords in outright cleartext ("no point hashing the passwords, an attacker who obtains the database can just brute force them all anyway")