New Cyber Security Initiative - click here for full story

From the Wall Street Journal comes word that the Obama admin. is looking at the US cyber security issue and planning to beef it up by a lot. Yes, even Uncle Sam has "issues" with security and it is a growing threat (as you know since you are reading this blog).

The WSJ article was written by By AUGUST COLE and SIOBHAN GORMAN

WASHINGTON -- The biggest U.S. military contractors are counting on winning billions of dollars in work to protect the federal government against electronic attacks.

U.S. agencies from the Pentagon to the Department of Homeland Security have experienced major cyber-break-ins in recent years, even into classified systems. Cyberspies also have siphoned off critical data from Pentagon contractors, including one breach that cost a major aerospace contractor $15 million.

Intelligence officials estimate annual U.S. losses from cyber breaches to be in the billions of dollars, and some worry that cyber attackers could take control of a nuclear power plant or subway line via the Internet -- or wipe out the data of a major financial institution.

The article says that spending for this initiative could range from $15 billion to $30 billion in the next five years. The article also points out that there is a big debate as to who can do the best cyber security work and that government contracts often go to the wrong people! Duh!