judge said to the willie sutton, why do you rob banks? he said it is simple. that is where the money is. loom large because we have stored wealth and treasure in this space. the things that depend on it beyond that are even more critical whether it is a lexical grids, financial systems. the u.s. department of defense estimates their ability to move material is 90% dependent upon the confidence they have in cyberspace. most of the production and acquisition occurs in that sector. most of transportation occurs in the private sector. there are no warehouses. everything is choreographed by cyberspace. that is a huge dependence. you need to think about wealth and treasure being dependent on that and other things dependent upon that space. >> getting more specific, tapping your many years at nsa, what is the most frightening cyber issue you ran into on wall street? i think many of you experienced this alongside the and 2013t in 2012 where there were a denial of service attacks on the financial infrastructure of the united states. london and sydney also suffered some

judge said to the willie sutton, why do you rob banks?

other things being equal, tax policy should be like, willie sutton's policy when he robbed banks.ob banks because that is where the money is. those of us with a greater ability to pay should pay more in revenues. the tax rate in america is now all out of whack. if you ran a big multinational company with responsibility is not just to your shareholders but to your own employees and you had operations all over the world and you earned a lot of this money legitimately. you are not looking for a tax shelter, you legitimately earned it another basis. you would be reluctant to bring it home if you pay the difference, you paid here and there in a world where now the average corporate tax is not 35%, it is more like 25% or 26%. the way to do it without giving a money is to require those that pay under 20 and there are a significant number to pay it a little bit more. finance the repatriation. and to have -- we should look at this money as a one-time stimulus to the american economy and require a certain amount of amounte to pay a modest of the treasury. the most important thing is to fund

it's going to be interesting, lucrative to a potential adversary. 100 years ago, a judge said to willy sutton, why do you rob banks? he was in the court for the fifth or sixth time. and willy said, it's pretty simple. that's where the money is. i think cyberthreats essentially loom large because we store wealth and treasure in this space. the things that depend on it beyond wealth and treasure are more critical. whether it's electrical grids, control systems. they say their ability to move materials from place a to place b is 90% dependent on the competence in cyberspace because most of that occurs in the private sector. even the coordination occurs in the private sector. they have gone so far to take all of the slop out of the system. there are no warehouses, everything is choreographed by cyberspace. you need to think through not just wealth and treasure but vital processes that constitute your treasure is also in that space. >> getting a little more specific, tapping your many years at nsa, what is the most frightening cyberissue you ran into on wall street, either an attack or a vulnerabi