The hype around cloud computing rages out of control as vendors rush to capitalize on the latest IT fad. "Private cloud" is a term that has appealed to IT security leaders as having the potential to offer all the benefits of the cloud (lower costs, ubiquitous access, etc) with none of the security risks. Both of these potentials are unrealized, despite vendor claims. This session will expose these assumptions and discuss why true cloud computing can offer significant security benefits over "private clouds" and legacy infrastructure.