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Po Campo has two designs, one that clips onto your handlebars and one that clips onto a rear rack. They're available at a bunch of bike shops around town.
After reading a couple of scary stories about people being mugged or attacked on bikes, I'm starting to get paranoid about my habit of simply stuffing my purse in my bike basket. Having a bag that takes some doing to detach obviously isn't a guarantee that no one will mess with you, but it could make it that much harder for thugs to make off with your stuff. And you won't look like a bike dork.