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True, but nonetheless hilariously bad mistake.

Really, this is only a security threat to your tech savvy gf/bf/friend/thief since it requires physical access. And you know what they say anyway:

Law #3: If a bad guy has unrestricted physical access to your computer, it's not your computer anymore

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It'll make corporate iPhone users (well, more the IT departments really) think twice (again??) about their iPhones on their network. For all the crap that RIM gets, they do get the whole corporate environment and security lock down thing right.

I think iOS was already on every sysadmin's shitlist for quite a while. I remember some of my friends on the networking side complaining a good deal about the iPad's DHCP lease shenanigans.

Is Law #3 really true for this iPhone scenario? I get that the bad guy should have access to the data on the machine, but should they be able to log into your account and impersonate you? Even with physical access that should NOT be possible.

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