And still there are some who don’t understand why there’s a lack of confidence in the financial markets?
Originally posted on EconoTwist's:
Last week’s cyber attacks against US banks were more widespread than reported. In fact, it may have been the largest attack ever, industry experts say. According to Radware, a security firm that has investigated cyber intrusions on behalf of financial firms, roughly a half-dozen institutions endured digital assaults at around the same time, Tuesday. But only JPMorgan Chase (JPM) and BB&T (BBT) have so far confirmed the incident.
“If you have a leak in a boat, you can build a bigger boat so the leaks won’t mathematically sink your boat. That’s been fundamentally the process many folks have been taking.”