Joe's thoughts on Iraq and Bank-Account Hijacking

Amey Stone

Joe Sosville, a reader from Michigan, had some insightful things to say about two of my recent posts. I hope to hear from more readers!

First, in response to "All About Oil," I like his style (not to say I agree 100%) when he writes:

"You forgot the War in Iraq! The hundreds of billions of dollars being spent on 'oil' (oops, excuse me, Democracy), could have been used to reduce the deficit if America had developed alternative energy instead of the need for Democracy... Oops, I mean Oil!"

Joe also responded to my recent post about bank account hijacking. I'm not sure what he means in the last sentence, but otherwise, he makes some good points:

"This is a grossly overplayed problem that is caused primarily by the 'customer.' People with computers and Internet access need to prepare themselves for the world of online transactions.

These preparations include two fundamental tasks. The first is computer readiness. Having an excellent and continually updated anti-virus software program and a personal firewall is mandatory. This will block practically any attempt to 'hijack' your computer. The second is common sense: banks and credit card companies do not ask customers to update records via e-mail. Know your merchant for on-line purchases or use an independent third party, such as Pay-Pal to transfer funds. And, never divulge personal information to anybody!

I have made online banking and credit card purchases for years and I haven't had a single occurrence of fraud as a result of these transactions. Then again, I am not stupid, lazy, absent-minded nor gullible. Gosh... these sound like personal human traits and socialization?"

Joe, thanks for writing!

Before it's here, it's on the Bloomberg Terminal.