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What dictionary are you using?
Merriam-Webster says:

fiduciary:
: of, relating to, or involving a confidence or trust: as a : held or founded in trust or confidence b : holding in trust c : depending on public confidence for value or currency

There's no mention of assets, legal authority, or financial matters in the definition. "Fiduciary responsibility" is just a way to say that a person/entity trusted by others should act responsibly based on that trust. By not encrypting their data Time Warner broke that trust and therefore should be held responsible.

When a bank is robbed they are responsible for the stolen money, regardless of any security measure they might have taken prior to the robbery. Why should it be different when it's not money but identities that are stolen?
Posted by: cicuta   Posted on: 05/02/05 You are currently: a Guest | Members login | Terms of Use

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Doh! we use Iron Mountain, too..  Xunil_Sierutuf | 05/02/05
Sounds like "Ocean's 13"!!  schneb | 05/02/05
What?  dj_dj | 05/03/05
Locking the Barn Door ...  dr praetorius | 05/02/05
Locking the Barn Door ...  dr praetorius | 05/02/05
Top 5 causes of tape "theft"  Taz_z | 05/02/05
Should Time Warner Be held responsible?  Edward@... | 05/02/05
Not Time Warner - Iron Mountain  draves@... | 05/02/05
Yes, of course. But...  RichardM_z | 05/02/05
Faulty analogy.  The King's Servant | 05/02/05
Amen  geumber | 05/02/05
Not TOTALLY at fault - sorry  USFbobFL | 05/03/05
Dolts  RichardM_z | 05/02/05
Time Warner looses its mind....  billprast | 05/02/05
Er,... correct me if I am wrong...  The King's Servant | 05/02/05
Wells Fargo  Fitz7600-20418232965191805568259060405736 | 05/02/05
Downhill slide  raven1_z | 05/02/05
Looses?  gemartin | 05/02/05
What dictionary are you using?  cicuta | 05/02/05
Right On! Here is the Encarta def.  USFbobFL | 05/03/05
Neither dictionary defines the extent of the trust  The King's Servant | 05/03/05
Foul Play  volksair | 05/02/05
Gross Negligence! wink (NT)  The King's Servant | 05/02/05
Shame on You  VoiceoReason | 05/02/05
Exactly! That was a stress reducer.  The King's Servant | 05/02/05
Identity data should be treated as a tangible asset  3toedsloth | 05/02/05
Exactly why Iron Mountain is liable.  The King's Servant | 05/02/05
re liability  Llandros Loressin | 05/03/05
I should have said, "responsible". Ne'ertheless...  The King's Servant | 05/03/05
And these folks use "secure" Linux systems  Jazhawk | 05/02/05
Just goes to show you  Michael Kelly | 05/02/05
Data is stored on Databases  QAPro | 05/03/05
Perimeter security AND content security.  djohnson@... | 05/03/05
But in the end  Michael Kelly | 05/03/05
good enough?  djohnson@... | 05/03/05
And that with a dedicated computer. Not cluster.  The King's Servant | 05/03/05
jazhawk  sbarringer@... | 05/04/05
Time Warner at Fault!  chuckbrady | 05/02/05
Agree....mostly  Knomia | 05/03/05
Bulletproof?  Greg_Naber@... | 05/03/05
Security for an organization...  sbarringer@... | 05/04/05
time warner  curleysdaman | 05/02/05
Time Warner data theft  cjones@... | 05/02/05
Are you CRAZY? They brought us ...  The King's Servant | 05/02/05
ON-LINE BACKUP  bossman_z | 05/02/05
How long does it take to send...  The King's Servant | 05/02/05
Online backup is the way forward.  adam007182 | 03/24/06
It is viable for large quantities of data  Balin1900 | 05/08/06
Speaking of Dolts  code_flogger | 05/02/05
TW  juandefuca | 05/02/05
AOL?????????  BBaker7958 | 05/02/05
ISP Security....  sbarringer@... | 05/04/05
Iron Mountain  bobf@... | 05/02/05
Time Warnert's "Loss" of Personal Data  ColeConroy | 05/02/05
ONLY a YEAR?!?  Judas I. | 05/02/05
FREE AOL/FREE CABLE FOR A YEAR!!!!!!!  Fusion_z | 05/03/05
Hokey Smokes Rocky, a NON M$ Report!!!  tbbrickster_z | 05/02/05
Doesn't Fred work at Iron Mountain?  aproctor@... | 05/02/05
Not necessarily. Read my post above.  The King's Servant | 05/02/05
internet backup  uppy | 05/03/05
Full, incremental and differential backups.  The King's Servant | 05/03/05
Tape is still needed for a lot of companies.  Greg_Naber@... | 05/03/05
ceo gerald levin and china  bkn2000 | 05/04/05
Chinese ....  sbarringer@... | 05/04/05
I'm sure that after US$600M plus 10 years in jail...  The King's Servant | 05/04/05
They're all named Fred  sbarringer@... | 05/04/05
The Buck Stops with TW  VoiceoReason | 05/02/05
Time Warner loses tapes  bleslie3@... | 05/02/05
They have learned to Encrypt but anyway...  The King's Servant | 05/02/05
How many tapes were there, exactly?  The King's Servant | 05/02/05
They even advise to encrypt the backups!!  kumchan | 05/02/05
lost tapes for 4 different customers?  capitano1 | 05/02/05
Time Warner  Scribe_z | 05/02/05
...And they have given account.  The King's Servant | 05/02/05
Privacy Backup for *Any* company  walterreads@... | 05/02/05
I know the Culprit  index | 05/02/05
Quick- Someone call ACME Investigations!  smoshlak | 05/02/05
Missed one...  smoshlak | 05/02/05
mishandeling not an option  jwick | 05/02/05
They have and they are.  The King's Servant | 05/03/05
Was it the Back Up only????!!!!!  ugetme247@... | 05/02/05
What's in a tape ?  schmatzp | 05/03/05
quite so  agottschald | 05/03/05
This is beginning to look bigger than a finacial scam  liri_z | 05/03/05
Hmmmm  Edj_z | 05/03/05
Free credit monitoring  USFbobFL | 05/03/05
Sorry, no cigar. MAKE THE TIME  USFbobFL | 05/03/05
Very good post.  The King's Servant | 05/03/05
Time Warner's lack of competence....  pikachodan | 05/03/05
Great. Let's establish a value....  The King's Servant | 05/03/05
Enough already - what about the employees  nickc@... | 05/03/05
FACTA Laws  sdboothe | 05/03/05
Time Warner did not steal - get the thiefs!  agohige | 05/03/05
Classic! IT employees will be scapegoats...  chicaNY | 05/03/05
I agree, partially.  Greg_Naber@... | 05/03/05
Totally true, however...  chicaNY | 05/03/05
Time Warner GooF  Fusion_z | 05/03/05
Somebody is SOOOOO FIRED! (nt)  MepisLINUXuser | 05/03/05
Data for 600,000 Time Warner employees MIA  PhoenixStorm26 | 05/06/05
warner Data lost  Mirzantx@... | 05/09/05
when the terrorist organizations send over a few thousand jihad warriors  wessonjoe | 05/10/05
I once worked for Iron Mountain  kjclassic | 05/15/05

What do you think?

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