41:23 I don't know. We never opted in to begin with, so I'm a little bit pissed about it but how bad is the situation really? Well, it was more than half. It was pretty much every adult in the United States had their information taken and that includes your social security number and that's a big deal because when it comes to identity fraud as a recent victim of identity fraud They really can mess up your life. I mean, they'll open up credit cards in your name if you have someone's social security number and their birth date, you can pretty much do that anytime you want to we have no idea who stole the information but it's out there now on just about every American adult so the only way that we can protect ourselves is to get credit monitoring which you have to pay Equifax Experian or TransUnion to
42:06 And so I wanted to see what are these companies and how do they even have my information. And it turns out from the very beginning, it was kind of a rumor mill put together by... But it started small like 150 years ago as businesses saying yeah This guy over here is a drunk. He's not going to pay his bills, just don't do business with him." It started small like that and then it became a community thing where they had these community meetings where they would have the rumor mill. And then it just became more digitized and countrywide and bigger and bigger and bigger until you ended up having these three companies that are the systematic rumor mill essentially so they're collecting a lot of information on us
42:46 They're sharing it with the banks to judge their risk of doing business with us. And so yeah, I told the whole history of how that happened and they've been shady since the very beginning Equifax in particular, their cybersecurity was a joke but there's no repercussions for them. There's nothing in law saying that if you lose every single American social security number this is the fine for that. You know? There's no per-security number fine that they have to pay and so there's been literally no repercussions As far as what this means for you, what this could mean is that you get your identity stolen. Which I'm sorry but it's now so possible and the only thing that you can really do
43:26 There is a free way. And this was because of a law, this was regulation... This is one of the examples of regulation doing something good for you by law these three companies have to give you your credit report once every year. You might remember like FreeCreditReport.com Well that's not the website that was Experian tracking you it's actually AnnualCreditReport.com And if you go there, that's how you can get your credit report for free once every year. You have to do it now because you have to check and make sure that all those credit cards are yours. You have to check and make sure that you're not racking up debt that you're not even aware of. You have to make sure that no one is taking out a mortgage in your name. I mean imagine if you own a house and you're $300,000 in debt on it and you don't even know
44:09 That's the type of stuff that's possible when someone has your Social Security and your birthday. And so many people in this country are not aware of that danger, and so yeah annualcreditreport.com. And then for me personally I am paying Experian just because I've already had my identity stolen. I know my information is out there and I'm now doing something publicly that pisses people off. So I'm spending $30 a month to monitor mine and my husband's credit And I've already noticed things on it. My identity was stolen last year and then just now, my credit went down by 150 points in one day because I didn't pay a $20 bill that I didn't know about at my dermatologist's. So that had nothing to do with identity fraud but that's the type of thing that ends up on your credit report. Had I tried to get a mortgage or car loan, my credit dropped so low that I wouldn't have been able to because of that $20 bill
45:01 We're just now in the era that we have to watch our credit reports in a way that I don't think we really had to before the Equifax breach. Every single one of us now knows we're in danger, whether you can have secure mail or you can do all of the things to protect yourself but Equifax just screwed it up for you. Man, and I really hate that kind of life maintenance. And I really hate just trying to deal with a major corporation. Just as an example people write me all the time and they say hey did you know that this YouTube channel is rebroadcasting your shows and stripping out all the branding? You should do something about that! And i'm like yeah let me just go
45:37 contact YouTube and get them to work on this issue for me. They don't give a fuck, and it's like I'm not gonna waste my whole day going through all this shit trying to stop somebody from reposting the show is just a stupid thing because you can ever get through these major companies and you make a great point it is the vast majority of people that were affected by this and this also isn't the only hack there's plenty of them so yeah if it wasn't this one maybe they'll get you on the next one but is there any real way to know for sure we were part of this particular compromised hacker or not? If you've ever opened a bank account, bought a car rented an apartment you are affected. Because the way that it works is that it's the banks and rental companies when you sign up for an application they check your credit And that's who they're checking with Experian Equifax and TransUnion
46:30 So that's how you opted in. You've never heard of these companies, chances are but you opted in by doing business with a bank or with a rental company or with a car company or anyone that checks your credit I mean... I had a Macy's credit card for five minutes and they ran my credit so that is how these companies are getting information on us. You pretty much have to be the Unabomber living in the woods to not have been affected by this one it was every single person that's done business with a bank Man and you know again one thing i really do love about your show is the clips you play from actual hearings and on this issue those clips were quite telling because,
47:10 When the Equifax executives were, or this I guess particular Equifax executive was being grilled they pulled out some previous quotes from him where he says fraud is a huge opportunity for us. Fraud protection is an exciting new market and they went on to show how Equifax just like you said now sells fraud protection services and they actually make more money when they have these breaches because there's zero consequences for it and they get a surge in all of these extra services that sell Absolutely. Elizabeth Warren did a beautiful job of making this obvious because she just brought up the point that Equifax, in the wake of this, they offered free credit monitoring for one year to anyone who wants to sign up and I think that one year is almost over but you could go and you sign up... You get it for a year and then Elizabeth Warren brought it up but if these people decide to continue with your monitoring service, even 110 of them decided to continue then
48:06 you just made something like, I don't know $30 million in profits. I don't remember what the exact number was." But she was just like, You're going to profit from this! And she's like that just feels so wrong and yeah the current law doesn't give us any way to do anything about it and even now what's so frustrating is that this happened And you would think that there would be some kind of follow up to make a law, to put in some kind of punishment for something like this. There's nothing. There is no one discussing it and writing it. I mean maybe a Democrat wrote it but its not being taken seriously by the people in power or the Republican party They're doing nothing. They're doing absolutely nothing it's up to us to protect ourselves now right and what about our frickin privacy like we did not sign up for that shit is just so annoying that you know, you can't get out of it and they're not even doing a good job I agree well like so many things I guess see there's so much to be outraged about