Java can be used to execute code on your computer. It is easy enough to turn off on Firefox, see image below and read the guide in the link, takes 60 seconds. If 20,000,000 people turn off the Java, I bet they find a fix real fast.
Running code?
That means the bad guys can do anything they want to your computer and your data.
Here is the basic data
http://krebsonsecurity.com/how-to-unplug-java-from-the-browser/
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Insightful and Useful Comment!