This is getting ridiculous. It's been more than two years since President Obama came into the White House on a platform that included spending perhaps $50 billion to shore up the nation's cyberdefenses. I don't know how much of that has actually been spent. But I have to tell you, folks, I'm not seeing the results.
What I do see is a tremendous impact on our companies. Sony's putting its damage at $170 million. EMC's going to have to take a charge for the 40 million SecurID tokens it will need to replace. Citi's reissuing 200,000 credit cards. (Google's probably safe, as it wasn't technically "hacked;" rather, some of its customers were individually "phished.") But now the hackers are progressing, attacking our government websites with impunity.
What's to be done? I have to go with Saturday Night Live's "Oscar Rogers" on this one: Fix it.
How? I've got a few ideas, but they're probably too extreme. Fortunately, I suspect a lot of you more technically-inclined folks have better ideas. What's the best, most cost-effective way to end the plague of hacking -- and which companies are best-positioned to implement it? Tell us below.
Fool contributor Rich Smith owns shares of Google. Also, The Motley Fool owns shares of EMC and Google, and Motley Fool newsletter services have recommended buying shares of Google. The Motley Fool has a disclosure policy.
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