As a general rule, if Nick Leeson can lecture you with moral authority about financial shenanigans, you’ve got a pretty big problem.

Still, I had to laugh at this statement from his essay:

Quite simply, the banks have traded recklessly over the past 10 years and have put everybody’s wellbeing at risk. Anybody and everybody could get whatever credit they wanted as recently as three years ago. I returned from Singapore in 1999, responsible for £862m worth of losses that brought down Britain’s oldest investment bank, personally liable through an injunction for £100m, and yet within the space of a week had been offered five different credit cards. Ridiculous! Any central bank will tell you that the system exists on the premise of “responsible lending”; but the experiences of the past few years clearly show this is utter rubbish.

Happy Friday, everyone.

In which I may have created a new term…

A reverse privacy breach is when people supply data that we don’t actually want to know about them, creating risk for us since we must now safeguard that information, whether we want it or now.

Recently, during the course of an internal review, we discovered that we were holding a lot of Personal Information that we had not previously been aware of. As a result, we had to try to track down where the information had come from so we could determine what policies it was covered under for use, retention and destruction.

This is yet another example of how Cory Doctorow was right when we wrote that accumulations of Personal Information are like “Nuclear Waste.”