Financial crisis due to poor risk understanding & management – IT security next?

I have written before about IT being an accelerator for the financial crisis. Another recent article, this time from Wired called Recipe for Disaster: The Formula That Killed Wall Street, seems to show how extremely complex risk measurement is and how someone tried to design a model to express that risk. It is the same for information security professionals. Take some time, read the Wired article and substitute the words “information security” where the word “finance” is used. See if it mirrors the current information security risk situation today. It may shed some light on how complex the situation has become and what the impact may be if something is not done by security professionals to head off an information security meltdown – but wait… are we already there with some of the botnets, conflicker, etc.? Let me know your thoughts on this.

Thanks for your time and let’s continue to be good network citizens!