What exactly is this Trusted Platform Module security chip do?

I don't use a fingerprint read, but I do use client security solutions because I want my taxes encrypted with private disk. This TPM chip (check security chip message) takes about a minute. No prob, I'll live with it for the private encrypted disk feature.

But what exactly does this chip in the computer do? Does it trace where the computer is if it is stolen like a lojack? Does it transform into a sentient lifeform with heat seeker bazookas and microwave a laptop thief? Aside from private disk why shouldn't I go in BIOS and disable this sucker?

 

Checkout the podcast #99 from http://www.grc.com/SecurityNow.htm#99

> Trusted Platform Module (TPM)
>
> Leo and I explain the virtues and misbegotten negative reputation of the
> entirely benign and extremely useful emergent crypto facility known as the
> "Trusted Platform Module."

 

Thanks, I'll check it out.