Re: No chance
The biggest problem with the bill is size of the potential fines. They are big enough to bankrupt a company in short order (50% of annual revenues). In many cases that would be as bad as the security breach as the company sinks taking other innocent businesses with it.
The bill is poorly thought as far as its effects. Probably a better solution is when a breach is above a certain size or due to gross negligence/incompetence give the C-suiters a personal multiyear, all-expense paid, vacation courtesy of Club Fed with a personal massive 'donation' to the feral treasury.
Biting the hand that feeds IT
