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Lynn Wheeler
211 followers -
Virtualization since Jan1968, Online at home since Mar1970
Virtualization since Jan1968, Online at home since Mar1970

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US NII.
https://en.wikipedia.org/wiki/National_Information_Infrastructure

old email just before cluster scaleup was transferred and we were told we couldn't work on anything with more than four processors (we leave IBM a few months later) ... including references to meetings at LLNL on various aspects of US NII
http://www.garlic.com/~lynn/2006x.html#email920129
in this post
http://www.garlic.com/~lynn/2006x.html#3 17Feb1992 already press about announce as supercomputer
http://www.garlic.com/~lynn/2001n.html#6000clusters1

includes reference to the meeting in Ellison's conference room, earlier in Jan1992
http://www.garlic.com/~lynn/95.html#13

I use to download and shadow all the Kahaner reports ... reference to Singapore NII 1st published in 1991:
https://groups.google.com/forum/#!msg/soc.culture.singapore/HIorv1DiYUU/D9buHZpMjGwJ

Many aspects of Singapore's NII will appear similar to those stated in US plans, a high capacity backbone, adherence to standards for networks as well as interfaces and environments, system management and security, distributed computing services, layers of services, and a few significant initial application products. In the case of Singapore these applications include personalized electronic newspaper, media marketplace, distance learning, etc., and others are mentioned, as well as applications of direct value to commercial customers such as a network for procurement, construction, legal network, electronic road pricing, intelligent job placement, on-line income tax info, computerized patenting, geographical information, etc. Many other applications are in the planning or prototype stage.

Note: a difference between US and Singapore NII was that US was asking vendors to participate for "free" while Singapore was contacting the US NII participants and offering full funding for their participation in Singapore NII.

another Kahaner report (singapore HPCC)
https://groups.google.com/forum/#!msg/comp.sys.super/-n3m63N3vD0/6D5kq0enzVkJ

other cluster scaleup email
http://www.garlic.com/~lynn/lhwemail.html#medusa ha/cmp posts
http://www.garlic.com/~lynn/subtopic.html#hacmp


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1999 I was asked to try and help prevent coming economic mess by improving the integrity of securitized mortgage supporting documents. They mentioned that some "investment bankers" had walked away "clean" from the S&L crisis and were currently running Internet IPO mills (invest, hype, IPO, needed to then fail so field was clear for next round, sort of massive pump&dump), and were predicted to get into securitized mortgages next. After the start of the century they found that they could pay the rating agencies for "triple-A" (when the rating agencies knew they weren't worth triple-A, from Oct2008 congressional hearings). Triple-A rating trumps supporting documents and they can start doing no-documentation, liar loans. Triple-A rating significantly contributes being able to do over $27T 2001-2008 ... including selling to investors restricted to dealing in "safe investments", like large pension funds.

Decade later, Jan2009, I'm asked to HTML'ize the Pecora Hearings (30 congressional hearings into '29 crash, resulting in criminal convictions and Glass-Steagall), with lots of internal HREFs and URLs between what happened then and what happened this time (comments that the new congress might have appetite to do something). I work on it for awhile and then get a comment that it won't be needed (references to enormous mountains of wallstreet cash totally burying capital hill).

Milton Friedman
https://en.wikipedia.org/wiki/Milton_Friedman

Friedman promoted an alternative macroeconomic viewpoint known as "monetarism", and argued that a steady, small expansion of the money supply was the preferred policy.[12] His ideas concerning monetary policy, taxation, privatization and deregulation influenced government policies, especially during the 1980s.

Milton Friedman's Cherished Theory Is Laid to Rest
https://www.bloomberg.com/view/articles/2017-01-12/milton-friedman-s-cherished-theory-is-laid-to-rest

Even now, when economic models have become far more complex than anything in Friedman's time, economists still go back to Friedman's theory as a mental touchstone -- a fundamental intuition that guides the way they make their models. My first macroeconomics professor believed in it deeply and instinctively, and would even bring it up in department seminars.

The Champions of the 401(k) Lament the Revolution They Started
http://www.wsj.com/articles/the-champions-of-the-401-k-lament-the-revolution-they-started-1483382348?mod=e2fb

Economists and the Powerful: Convenient Theories, Distorted Facts, Ample Rewards
http://www.amazon.com/Economists-Powerful-Convenient-Distorted-ebook/dp/B009K44OW2

loc1200-1206: There are plenty of examples from other countries to copy: the US individual retirement account system is based on the Chilean pension reform of 1980/81 that in turn was based heavily on proposals made in the book Capitalism and Freedom by Milton Friedman. In response to the Chilean system facing a likely collapse in a few decades time, it was substantially overhauled in 2008 to require mandatory participation of all citizens in exchange for universal pension coverage.

Donald Trump's Executive Order Will Let Private Equity Funds Drain Your 401(k)
https://theintercept.com/2017/02/06/donald-trumps-executive-order-will-let-private-equity-funds-drain-your-401k/

Large firms like Carlyle, Blackstone, Partners Group, and Kohlberg Kravitz Roberts (KKR) have developed a series of 401(k)-friendly products over the past couple years. Most enable plan advisers to offer private equity stakes to investors as part of a "target fund," in a diversified portfolio with other investments.

"The Undoing Project" goes into some detail how Kahneman and Tversky disproved economists' assumption that people make rational decisions ... loc:1155-59: He had listened to an American economist talk about how so-and-so was stupid and so-and-so was a fool, then said, "All your economic models are premised on people being smart and rational, and yet all the people you know are idiots."

Kahneman (a psychologist) gets Nobel prize in economics, in part for debunking Friedman's theories involving rational man

... and

VP and former CIA director repeatedly claims no knowledge of
http://en.wikipedia.org/wiki/Iran%E2%80%93Contra_affair
because he was fulltime administration point person deregulating financial industry ... creating S&L crisis
http://en.wikipedia.org/wiki/Savings_and_loan_crisis
along with other members of his family
http://en.wikipedia.org/wiki/Savings_and_loan_crisis#Silverado_Savings_and_Loan
and another
http://query.nytimes.com/gst/fullpage.html?res=9D0CE0D81E3BF937A25753C1A966958260

another family member presides over the economic mess 70 times larger than the S&L crises. S&L crisis had 1000 criminal convictions with jailtime, proportionally the economic mess should have 70,000.


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Long ago and far away we were brought in as consultants for small client/server startup that wanted to do payment transactions on their server. Two people responsible for something they called "commerce server", we had previously worked with when they were at Oracle. The startup had also invented this technology they called "SSL" they wanted to use. The result is now frequently called "electronic commerce". I had complete authority over the server to payment networks gateways ... but could only make recommendations on the client/server side ... some of which were almost immediately violated accounting for exploits that continue to this day.

On the server/gateway side, I did several publickey things that effectively negated any use of digital certificates, but they continued to appear, a side-effect of the publickey crypto library used. One the client/server side, I started frequently pontificating about the SSL digital certficates being redundant and superfluous ... as "merchant comfort certificates" ... providing a sense of comfort (rather than security). past posts
http://www.garlic.com/~lynn/subpubkey.html#sslcerts

related posts, relying party certificates
http://www.garlic.com/~lynn/subpubkey.html#rpo
coined the term "certificate manufacturing" (to differentiate from PKI) posts
http://www.garlic.com/~lynn/subpubkey.html#manufacture "certificate-less" operation posts
http://www.garlic.com/~lynn/subpubkey.html#certless catch22 certificate operation posts
http://www.garlic.com/~lynn/subpubkey.html#catch22
enormous redundant & superfluous certificate payload bloat posts
http://www.garlic.com/~lynn/subpubkey.html#bloat


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Federal Reserve fought long hard legal battle to prevent public discloser of what it was doing. When it lost, the Chairman held a press confeence and said that he thought that the "too big to fail" would use the tens of trillions in ZIRP funds to help mainstreet, but when they didn't, he had no way to force them (however that didn't stop the ZIRP funds). Supposedly the Chairman was selected in part because he was a student of the '29crash and the depression when the Federal Reserve had tried something similar with the same results.

Congress had appropriated TARP $700B supposedly to bailout TBTF by buying their off-book toxic assets. However, just the four largest TBTF were holding $5.2T off-book the end of 2008 ... and TARP would hardly dent the problem. TARP was then used for other purposes and the Federal Reserve bought trillions in off-book assets at 98cents on the dollar and was providing tens of trillions in ZIRP funds. Claims are the TBTF have been using ZIRP funds to buy treasuries (helping prop up the enormous federal debt) and clearing something like $300B/year on the spread.

2002, Congress lets the fiscal responsibility act lapse (spending can't exceed tax revenue, on its way to eliminating all federal debt). 2010, CBO report that 2003-2009, taxes were reduced by $6T and spending increased by $6T for $12T gap compared to fiscal responsibility budget (first time congress cuts taxes to not pay for two wars). Since then taxes not restored and only modest cuts in spending so debt continues to increase. Supposedly confluence of interest, 1) federal reserve and wallstreet wanting huge federal debt, 2) wallstreet and special interests wanting huge tax cuts, and 3) miltiary-industrial complex wanting huge spending increase (and "perpetual war").

Claim that financial services industry tripled in size (as percent of GDP) during the economic mess and Federal Reserve is helping it maintain that position. NY state comptroller released report that during the economic mess, wallstreet bonuses exploded by over 400%.

Oct2008 congressional hearings into the pivotal role that the rating agencies played in the economic mess, found that they were selling triple-A ratings on securitized mortgages when they knew they weren't worth triple-A. That largely accounts for over $27T being done 2001-2008 selling into the "bond" market, including to large funds restricted to only dealing in "safe" investments (like large institutional pension funds, resulting in significant loss for those funds).

The triple-A ratings eliminated any reason that loan orginators to care about borrowers' qualifications or loan quality ... since they could immediately sell off every loan they made. Then indusry found that they could design securitized mortgages to fail, pay for triple-A rating, sell to their customers, and take out CDS gambling bets that they would fail (creating enormous demand for dodgy mortgages). The largest holder of the CDS gambling bets was AIG and was negotiating to pay off at 50cents on the dollar when the SECTREAS steps in and forces them to sign a document that they can't sue those making the bets and to take TARP funds to pay off at face value. The largest recipient of TARP funds is AIG and the largest recipient of face value payoffs is the firm formally headed by SECTREAS. 

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Boyd tells story that when SECDEF couldn't get Spinney (&/or Boyd) put in Leavenworth (for the rest of their life) for (gone behind paywall, but mostly leaves free at wayback machine)
http://web.archive.org/web/20070320170523/http://www.time.com/time/magazine/article/0,9171,953733,00.html

the SECDEF supposedly created new classification "NO-SPIN" (unclassified but not to be released).

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We were brought in to help wordsmith some Cal. state legislation. They did electronic signature act, data breach notification act and were working on "opt-in" personal information sharing act (required explicit approval to share your personal information) when an (federal pre-emption) "opt-out" sharing was added to GLBA (institutions could share your information unless it had record of you objecting).

At 2004 annual national privacy conference in Wash. DC. that had panel with the FTC commissioners. Somebody in the audience asked them if they were going to do anything about GLBA "opt-out". He said that he worked for major call-center technology used by all the large financial institutions. He claimed that they didn't supply call-center "opt-out" operators with any mechanism for recording information (i.e. there would never be a record of people objecting to sharing personal information).

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We were brought in to help wordsmith some Cal. state legislation. They did electronic signature act, data breach notification act and were working on "opt-in" personal information sharing act (required explicit approval to share your personal information) when an (federal pre-emption) "opt-out" sharing was added to GLBA (institutions could share your information unless it had record of you objecting).

They had done detailed public privacy studies and #1 issue was fraudulent financial transactions ... mostly as a result of breaches ... there was little or nothing being done about breaches. The issue is normally institutions take security measures in self-protection, however in the case of breaches, the institutions weren't at risk, it was the public. It was hoped that publicity from the breach notification might motivate breach countermeasures.
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