Tuesday, April 7, 2009

Electricity Grid in U.S. Penetrated by Spies

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WSJ.com: "WASHINGTON -- Cyberspies have penetrated the U.S. electrical grid and left behind software programs that could be used to disrupt the system, according to current and former national-security officials.

The spies came from China, Russia and other countries, these officials said, and were believed to be on a mission to navigate the U.S. electrical system and its controls. The intruders haven't sought to damage the power grid or other key infrastructure, but officials warned they could try during a crisis or war.

'The Chinese have attempted to map our infrastructure, such as the electrical grid,' said a senior intelligence official. 'So have the Russians.'

The espionage appeared pervasive across the U.S. and doesn't target a particular company or region, said a former Department of Homeland Security official. 'There are intrusions, and they are growing,' the former official said, referring to electrical systems. 'There were a lot last year.'
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Many of the intrusions were detected not by the companies in charge of the infrastructure but by U.S. intelligence agencies, officials said. Intelligence officials worry about cyber attackers taking control of electrical facilities, a nuclear power plant or financial networks via the Internet."

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Saturday, April 4, 2009

NYT Editorial Observer

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With the Downturn, It’s Time to Rethink the Legal Profession By ADAM COHEN April 1, 2009

The economic downturn is hitting the legal world hard. American Lawyer is calling it “the fire this time” and warning that big firms may be hurtling toward “a paradigm-shifting, blood-in-the-suites” future. The Law Shucks blog has a “layoff tracker,” and it is grim reading. Top firms are rapidly thinning their ranks, and several — including Heller Ehrman, a venerable 500-plus-lawyer firm founded in 1890 — have closed."



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Thursday, April 2, 2009

Wen Jiabao

WORLD ECONOMIC FORUM ANNUAL MEETING 2009  - We...Image by World Economic Forum via Flickr
25 People to Blame for the Financial Crisis - TIME:

If cheap credit was the crack cocaine of this financial crisis — and it was — then China was one of its primary dealers. China is now the largest creditor to the U.S. government, holding an estimated $1.7 trillion in dollar-denominated debt. That massive build-up in dollar holdings is specifically linked to China's efforts to control the value of its currency. China didn't want the renminbi to rise too rapidly against the dollar, in part because a cheap currency kept its export sector humming — which it did until U.S. demand cratered last fall."

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