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Checks and Balance from The Economist

Checks and Balance: Smart attack

Checks and Balance from The Economist

The Economist

News, United States, News & Politics, Politics

4.51.8K Ratings

🗓️ 14 May 2021

⏱️ 41 minutes

🧾️ Download transcript

Summary

A ransomware attack shut down a vital fuel pipeline on the east coast. President Biden’s plans to upgrade the hi-tech energy infrastructure may make it yet more vulnerable to hackers. Is America properly protected from cyber attack?


Michael Tran of RBC Capital Markets assesses the damage. The Economist’s defence editor Shashank Joshi puts the attack in context. Amy Myers Jaffe, author of “Energy’s Digital Future”, says it's a wake-up call. 


John Prideaux hosts with Charlotte Howard and Jon Fasman.


For access to The Economist’s print, digital and audio editions subscribe: economist.com/USpod



Hosted on Acast. See acast.com/privacy for more information.

Transcript

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0:00.0

In 1988, Anthony Fauci was just a few years into his job as director of America's Top

0:07.9

Infectious Disease Agency. With the toll of the AIDS epidemic passing 100,000 dead, he

0:14.1

received angry letters from gay rights activists calling him a murderer for failing to find

0:19.0

a treatment. As a speaker at the 4th International Conference on AIDS that year, he was also

0:25.7

caught up in a more unusual attack. Sloppy discs labeled as AIDS education software were

0:32.2

mailed to conference attendees. The discs contained malicious code, a virus that locked computer

0:39.2

files. The victims' printer spat out a ransom demand, restoring access required

0:45.1

mailing $189 to a PO box in Panama. The man behind the stunt was Harvard trained

0:52.5

evolutionary biologist Joseph Popp. His lawyers said he was a Robin Hood, raising money

0:58.0

to fund alternative AIDS education programs. But, in the end, a judge ruled him unfit to

1:04.1

stand trial on grounds of insanity. The doctor had taken to wearing a cardboard box on his

1:09.6

head. Mad or not, Dr. Popp had launched the first ever ransomware attack, while the

1:16.2

internet was in its infancy.

1:19.3

This is Chex and Balance.

1:21.3

I'm John Prado, the economist's U.S. editor, and each week we take one big theme shaping

1:30.4

American politics and explore it in depth.

1:35.2

Today, is America properly protected from cyber attack?

1:50.2

A ransomware attack shut down one of America's biggest fuel pipelines. Drivers have been warned

1:56.7

not to panic by petrol ahead of the Memorial Day weekend, and meanwhile the Biden administration

2:02.3

spending plans involve expanding America's high-tech energy infrastructure, increasing

2:07.0

opportunities for this kind of internet-enabled ambush.

2:12.0

How vulnerable is America?

...

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