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President Obama on Friday announced plans to develop a cybersecurity office in the White House to combat against cyber threats. As part of the that plan, the President said he would himself name a "cyber czar" to head up the operation.
"A lot of the things that were discussed [Friday] morning have been said before, but it is a very big deal when the President says them," said President Larry Clinton of the Internet Security Alliance.
Citing a recent survey, President Obama said that cyber crime has cost Americans more than $8 billion over the past years, with the worldwide cost of stolen intellectual property estimated to be in the vicinity of $1 trillion. He also talked about hackers gaining access to campaign computers when he was running for President.
"It's not clear this cyber threat is one of hte most serious economic and national security challenges we face as a nation," Obama said. "We're not as prepared as we should be, as a government or as a country."
You can view the 16 minute video of what President Obama had to say right here.