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Wednesday, October 04, 2017

Equifail

I don't like credit reporting companies. The entire industry is little more than a shakedown operation. Which means that Equifax's recent massive security breach which compromised the personal data of millions of citizens who they've roped into their scam doesn't improve my opinion of them. But it's even worse than you think. Now CEO Richard Smith is blaming the entire debacle on some low-level IT flunky who supposedly failed to implement a security patch. Which is about the most chicken-shit behavior I can imagine in a man who professes to be a leader. How about taking responsibility for the actions of those under your command, Dick? Ever heard of that?

Then there's this:

Something else problematic for the committee questioning Smith – the sale of $1.8 million in stock by three top individuals within the company on August 1 and 2, within the time they would have known about the hack.

“I’ve known these individuals for up to 12 years. They’re men of integrity. I have no indication that they had any knowledge of the breach when they made this sale,” Smith said, pointing out it wasn’t unusual for individuals to sell within the quarterly earnings window.


Oh, certainly. Purely coincidental, I'm sure...

Combined with your "the janitor did it" shirking of responsibility and the fact that you're running what is nothing more than a confidence game and calling it a business, I'm disinclined to believe you, Mr Smith.

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