Morgans systems without being detected. Were joined from washington by bloombergs mike reilly, who overs cyberwhite collar crime. Mike, what more do we know about these hackers . Ow sophisticated are they . They know they were incredibly successful, especially given the amount of money, time, and effort that j. P. Morgan puts into defending its networks. They used multiple unknown vulnerabilities, and these were vurkts in custom applications that j. P. Morgan writes for itself, so its very hard to get that kind of information and to exploit those programs. They planted customized malware all over the place. They took big abytes of data. It was a very serious act. Do we know what their intent was . What is their purpose, do we know . Theres some debate. We do know that j. P. Morgan has told people working in the investigation that they believe that it was not just russian hackers, but may have been state sponsored. State sponsored can be a lot of things. They might just have gotten help
Coming up next, some of todays white house Cyber Security summit and california beginning with pres. Obama president obama talking about information sharing between government and private industry. Then Homeland Security secretary discusses the same issue with Business Leaders from American Express, Pacific Gas Electric and Kaiser Permanente. Later the ceos of mastercard, aig, and bank of america sit down with Congress Secretary for a discussion on what companies can do to better protect against Cyber Attacks. Ladies and gentlemen, to introduce the president of the United States please welcome Stanford University president john hennessy. [applause] welcome back, everyone. It is now my great privilege to introduce our nations 44th president , barack obama. He came to office just after the Global Financial crisis in 2,008. His presidency his presidency has been marked by the complexity and challenges of governing in a time when people are more interconnected than ever. And the idea of Co
Industry to share information on Cyber Threats. Before signing, the president talked about why it was important to address the issue now. He also spoke about the governments attachment to keep people safe while attempt to keep people safe while protecting Civil Liberties and privacy. This is 30 minutes. Ladies and gentlemen, to introduce the president of the United States please welcome, Stanford University president , john hennessey. [applause] welcome back. Its now my great privilege to intro our nations 44th 44th president , barack obama. President obama came to office just after the Global Financial crisis in 2008. His presidency has been marked by the complexity and challenges of governing at a time when people are more interconnected than ever. Sometimes in ways we dont even realize. And the idea of Community Extends far beyond physical boundaries. So many aspects of our lives have been digitized and technology is central to almost everything we do. But our increasing reliance ha
Security. And, lastly, and this is important particularly in light of the metcalf incident, that has been talked about here, and theyre in the early stages of this but the, they are working on working on a project to develop security, security protections, physical protections and others for substations. So thats going to be extremely critical also. Were very proud of the work that is done at the Idaho National laboratory. Like i said they are reknowned when it comes to Nuclear Energy but there are these new areas that they are developing and Grid Security is certainly one of the things that theyre going to be focusing on. The reason i wanted to say what ive said about this is i want to make sure that everyone in the industry, everyone in the government agencies, knows that these facilities are available because sometimes they have a tendency to fly under the radar. So i want to state that for the record and thank you for making the time available, madam chairman. Thank you, senator ri
And the implications of the Virtual Currencies also other block chainbased applications for the future broadly and i will get into what i mean in a little bit. We are a Nonpartisan Organization that promotes constructive u. S. And european leadership in the world and who meets todays challenge is working with our allies. But we also serve a Public Education function. And i really cant tell you how many people from what i would call that traditional constituency of the Atlanta Council, which is a Longstanding Institution in washington. How many people have come to me and said what is this thing called this claim bitcoin, will it be here tomorrow or will it be here in 2050, and that is part of the reason i decided we should have an event that sort of performs these functions but i try to bring together a nontraditional panel with a lot of distinctive experts from distinct as the plans. Im thrilled and honored that they are here today to explain what bitcoin is, what it means for the futu