Subtle Cyber Attacks Could Tilt Global Economies 51
wiredmikey writes "A subtle, yet powerfully destructive force of electronic attacks may be working slowly and silently to disrupt elements of the world's market-based economies. Recent cyber-attacks on the European Emissions Trading Scheme shut down that exchange's carbon market just a few weeks ago. Along with the fear of lights-out DDoS attacks that has traditionally stalked electronic markets, and logically still does, new types of attacks by subtle manipulation could slowly turn electronic markets on their heads by corrupting their very legitimacy. What's worse? Attacking someone's borders, or slowly disrupting and degrading confidence in their entire national economic well-being?"
Umm... (Score:5, Insightful)
Regulations work (Score:5, Insightful)
Anonymous coward, the problem is not regulations, it is misuse of regulations. If regulations were a sure-fire way for the rich and powerful to gain and retain control over an economy, they would not be fighting them tooth and nail. But they are. Without regulations, they will do as they please, using market and extra-market forces to corrupt and control the market. With regulations, they may attempt regulatory capture, but they are always at the mercy of an informed and engaged electorate.
They already have power. Regulations do not concentrate power, they distribute it among the electorate rather than concentrating it in the hands of the rich and the ruthless. These ultra-rich would love nothing more than for you to do away with the one thing keeping them in check: government regulation.
If the government is giving power to certain groups, it is up to We, The People to correct that and take back control over our government.