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Open source isn't magic, and developers aren't magicians. No developer is immune to security problems and bugs creeping into his code.
Free, open, proprietary, closed....Bugs happen. I think open source means fewer bugs, and people have written tens of thousands of words explaining how they agree or disagree with me. One thing I know I'm right about is that both kinds of code have bugs. Bugs persist longer in closed codebases, and their closed nature keeps bugs persistent.