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UPDATED-computer glitch at citibank

Submitted by freespeech on Wed, 12/17/2008 - 09:31
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i have been waiting for you guys to chat about this... what really happened? anyone?

update- from today!

http://www.channelinsider.com/prestitial.php?type=rest&url=h...

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I work for Citigroup

Submitted by Mainers4RP on Wed, 12/17/2008 - 13:09.

So let me tell you a few things - first of all, it wasn't like a network-wide outage caused this. I work for the IT department, so let me tell you why this is impossible. For starters - all Citi infrastructure has a triple redundancy, meaning if one server fails, there's a backup, then a backup of the backup - so it wasn't that. Second, it didn't happen everywhere - only a few locations in NY. It was caused when those local branches lost their individual internet connection - so blame AT&T - who is their ISP.

There was no "intentional" down time to put in "backdoors" or whatnot - that's just foolish conspiracy theory propaganda. Everything we do in the IT world here at Citi is checked, double checked, and then audited every year by the SEC. We can't put a semicolon in the wrong spot without 5 people yelling at us - so no "evildoings" here. Sorry to disappoint you.

Yeah, the SEC has a

Submitted by hartman on Wed, 12/17/2008 - 13:13.

Yeah, the SEC has a excellent record of stamping out corruption and conspiracy when they find it.

http://federalfallacy.com

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http://federalfallacy.com

audited by the SEC every year?

Submitted by VegasBD on Wed, 12/17/2008 - 13:11.

oh good, now i feel better...hehehehhe

comp glitch

Submitted by mwiegand on Wed, 12/17/2008 - 11:04.

imo they're adding some monitoring or backdoors or something along those lines. Like a few years back when all those main lines mysteriously went down, or the ones under the ocean. Internet was different after those happenings.

here is the article

Submitted by freespeech on Wed, 12/17/2008 - 10:45.

According to WCBS TV in New York, Citibank accountholders will have limited access to their money today while an unspecified computer problem is repaired.

Citibank accountholders will have limited access to their funds today, as the financial firm works to repair an unspecified “computer glitch,” WCBS TV reports.

According to the report, Citibank lost access to its account records in what sounds like a database or a backup corruption incident. The report was unclear of the root cause, but the problem did not appear to be the result of a security breach.

WCBS TV reports that Citibank is working to repair the damage, but the work will take much of the day. The problem first came to light late Tuesday night.
Citibank is one of the large financial institutions under scrutiny for its practices following its acceptance of a multibillion government capital infusion under the $700 billion Troubled Assets Relief Program.

In late November, the U.S. Treasury Department invested $20 billion in Citi to help recapitalize the shaky institution rocked by losses related to defaults on subprime mortgages.

~peace

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~peace

The story in this link

Submitted by vlbc on Wed, 12/17/2008 - 10:37.

is dated Wednesday 10 May, 2006 !!

Have you been waiting for over 2 years ?

thanks for pointing that out!

Submitted by freespeech on Wed, 12/17/2008 - 10:43.

lol- i put the wrong link on there- sorry! the correct one from today is posted thanks to you!!

~peace

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~peace

I see the new link now

Submitted by vlbc on Wed, 12/17/2008 - 10:48.

I don't use Citibank, so I'm OK.

Have a good one.

We shouldn't always assume everything is a lie

Submitted by Ryan.Gaba on Wed, 12/17/2008 - 10:03.

But on the same note, we should never completely believe our media is being honest.

As far as breaking the laws in Japan about money laundering protection, I am pretty sure they knew the rules very well. So it would be a tremendous coincidence.