I have django running through WSGI like this :

<VirtualHost *:80>
    WSGIScriptAlias / /home/ptarjan/django/django.wsgi
    WSGIDaemonProcess ptarjan processes=2 threads=15 display-name=%{GROUP}
    WSGIProcessGroup ptarjan
    Alias /media /home/ptarjan/django/mysite/media/
</VirtualHost>

But if in python I do :

def handler(request) :
    data = urllib2.urlopen("http://example.com/really/unresponsive/url").read()

the whole apache server hangs and is unresponsive with this backtrace

#0  0x00007ffe3602a570 in __read_nocancel () from /lib/libpthread.so.0
#1  0x00007ffe36251d1c in apr_file_read () from /usr/lib/libapr-1.so.0
#2  0x00007ffe364778b5 in ?? () from /usr/lib/libaprutil-1.so.0
#3  0x0000000000440ec2 in ?? ()
#4  0x00000000004412ae in ap_scan_script_header_err_core ()
#5  0x00007ffe2a2fe512 in ?? () from /usr/lib/apache2/modules/mod_wsgi.so
#6  0x00007ffe2a2f9bdd in ?? () from /usr/lib/apache2/modules/mod_wsgi.so
#7  0x000000000043b623 in ap_run_handler ()
#8  0x000000000043eb4f in ap_invoke_handler ()
#9  0x000000000044bbd8 in ap_process_request ()
#10 0x0000000000448cd8 in ?? ()
#11 0x0000000000442a13 in ap_run_process_connection ()
#12 0x000000000045017d in ?? ()
#13 0x00000000004504d4 in ?? ()
#14 0x00000000004510f6 in ap_mpm_run ()
#15 0x0000000000428425 in main ()

on Debian Apache 2.2.11-7.

Similarly, can we be protected against :

def handler(request) :
    while (1) :
        pass

In PHP, I would set time and memory limits.

Edit
Report