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Paul Merrell

GCHQ spied on Amnesty International, tribunal tells group in email | UK news | The Guar... - 0 views

www.theguardian.com/...y-international-tribunal-email

surveillance state GCHQ Amnesty-International

shared by Paul Merrell on 02 Jul 15 - No Cached
  • The government’s electronic eavesdropping agency GCHQ spied illegally on Amnesty International, according to the tribunal responsible for handling complaints against the intelligence services. Confirmation that surveillance took place emerged late on Wednesday, when the human rights group revealed that the Investigatory Powers Tribunal (IPT) sent it an email correcting an earlier judgment. The extraordinary revision of a key detail in the ruling given on 22 June may alarm many supporters of Amnesty, who will want to know why it has been targeted.
  • In the original judgment, the IPT said that communications by the Egyptian Initiative for Personal Rights and the South African non-profit Legal Resources Centre had been illegally retained and examined. In the email sent on Wednesday, the tribunal made it clear that it was Amnesty and not the Egyptian organisation that had been spied on – as well as the Legal Resources Centre in South Africa. The breach of surveillance powers, under the Regulation of Investigatory Powers Act, related to retaining databases for longer than was permitted. Amnesty had been one of the claimants in the case, but in the original judgment the IPT made “no determination” on the organisation’s complaint – implying that either their emails and phone calls were not intercepted or that they were intercepted but by legal means.
Paul Merrell

Netanyahu hints at easing rules on firing at Palestinian stone-throwers | World news | ... - 0 views

www.theguardian.com/...ing-palestinian-stone-throwers

war & peace Israel Palestine lethal-force stone-throwers Netanyahu

shared by Paul Merrell on 03 Sep 15 - No Cached
  • Israel’s prime minister, Binyamin Netanyahu, has ordered his security officials to examine changing the rules governing when soldiers can shoot young Palestinian stone-throwers. A statement issued by his office on Wednesday revealed Netanyahu was considering giving security forces a freer hand to open fire with live ammunition after meeting with his cabinet to discuss a recent increase in the number of incidents involving firebombs and stone-throwing in Jerusalem and on the West Bank. Despite rules of engagement that in theory permit potentially lethal live fire to be used only in life-threatening situations, a number of recent incidents have led to young Palestinians being killed by Israeli soldiers – including a brigade commander – while fleeing and posing no immediate threat.
Paul Merrell

Hedge funds tell Puerto Rico: lay off teachers and close schools to pay us back | World... - 0 views

www.theguardian.com/...ools-fire-teachers-pay-us-back

banksters Puerto-Rico vulture-capitalism

shared by Paul Merrell on 03 Aug 15 - No Cached
  • Billionaire hedge fund managers have called on Puerto Rico to lay off teachers and close schools so that the island can pay them back the billions it owes. The hedge funds called for Puerto Rico to avoid financial default – and repay its debts – by collecting more taxes, selling $4bn worth of public buildings and drastically cutting public spending, particularly on education. The group of 34 hedge funds hired former International Monetary Fund (IMF) economists to come up with a solution to Puerto Rico’s debt crisis after the island’s governor declared its $72bn debt “unpayable” – paving the way for bankruptcy. The funds are “distressed debt” specialists, also known as vulture funds, and several have also sought to make money out of crises in Greece and Argentina, the collapse of Lehman Brothers and the near collapse of Co-op Bank in the UK.
  • The report, entitled For Puerto Rico, There is a Better Way, said Puerto Rico could save itself from default if it improves tax collection and drastically cuts back on public spending. It accused the island, where 56% of children live in poverty, of spending too much on education even though the government has already closed down almost 100 schools so far this year.
Paul Merrell

Edward Snowden says Hillary Clinton 'ridiculous' to think emails were secure | US news ... - 0 views

www.theguardian.com/...n-hillary-clinton-email-server

Auction 2016 Snowden Hillary-emails

shared by Paul Merrell on 05 Sep 15 - No Cached
  • Edward Snowden has branded as “completely ridiculous” the idea that Hillary Clinton’s personal email server was secure while she was secretary of state. The National Security Agency whistleblower was speaking in an interview with Al-Jazeera. In 2014, Clinton accused Snowden of inadvertently helping terrorists. Since then she has toned down such criticism and said the NSA needs to be more transparent. On Thursday, Snowden was asked what he would say to Clinton now that she is being investigated for sending emails containing classified information while using a private server. “This is a problem,” Snowden said, “because anyone who has the clearances that the secretary of state has, or the director of any top-level agency has, knows how classified information should be handled.”
  • He added: “If an ordinary worker at the State Department or the CIA … were sending details about the security of embassies, which is alleged to be in her email, meetings with private government officials, foreign government officials and the statements that were made to them in confidence over unclassified email systems, they would not only lose their jobs and lose their clearance, they would very likely face prosecution for it.”
  • He did comment on Clinton’s choice of email server, Platte River Networks. “When the unclassified systems of the United States government, which has a full-time information security staff, regularly gets hacked, the idea that someone keeping a private server in the renovated bathroom of a server farm in Colorado is more secure is completely ridiculous,” he said.
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  • He went on to question the credibility of politicians like John Kerry, Clinton’s successor as secretary of state, and compared “the good that they’re doing for the country” to the work of people like Jimmy Wales, the co-founder of Wikipedia, who he said was “improving the world”.
  • Paul Merrell on 05 Sep 15
     
    Is that a wooden stake you're holding in your hand, Edward? And what's the sledge hammer for?
Paul Merrell

Doctors Without Borders airstrike: US alters story for fourth time in four days | World... - 0 views

www.theguardian.com/...istan-us-account-changes-again

war & peace Kunduz Afghanistan Doctors-Without-Borders U.S.-foreign-policy war crimes

shared by Paul Merrell on 11 Oct 15 - No Cached
  • US special operations forces – not their Afghan allies – called in the deadly airstrike on the Doctors Without Borders hospital in Kunduz, the US commander has conceded. Shortly before General John Campbell, the commander of the US and Nato war in Afghanistan, testified to a Senate panel, the president of Doctors Without Borders – also known as Médecins sans Frontières (MSF) – said the US and Afghanistan had made an “admission of a war crime”. Shifting the US account of the Saturday morning airstrike for the fourth time in as many days, Campbell reiterated that Afghan forces had requested US air cover after being engaged in a “tenacious fight” to retake the northern city of Kunduz from the Taliban. But, modifying the account he gave at a press conference on Monday, Campbell said those Afghan forces had not directly communicated with the US pilots of an AC-130 gunship overhead. “Even though the Afghans request that support, it still has to go through a rigorous US procedure to enable fires to go on the ground. We had a special operations unit that was in close vicinity that was talking to the aircraft that delivered those fires,” Campbell told the Senate armed services committee on Tuesday morning.
Paul Merrell

Hamas leader in Gaza declares intifada as deadly attacks continue | World news | The Gu... - 0 views

www.theguardian.com/...tifada-deadly-attacks-continue

war & peace Israel Palestine Gaza Hamas intifada

shared by Paul Merrell on 11 Oct 15 - No Cached
  • Hamas’s leader in Gaza has declared the current unrest in Jerusalem and the West Bank an intifada, as six Palestinians were shot dead protesting at the border fence, further raising the stakes after a week of escalating violence. The comments by Ismail Haniyeh contradicted recent remarks by Fatah’s leadership, including the Palestinian president, Mahmoud Abbas. There has been increasingly widespread use of the hashtag #intifada on Palestinian social media. In a sermon for Friday prayers at a mosque in Gaza City, Haniyeh said: “We are calling for the strengthening and increasing of the intifada. It is the only path that will lead to liberation. Gaza will fulfil its role in the Jerusalem intifada and it is more than ready for confrontation.”
Paul Merrell

Spies and internet giants are in the same business: surveillance. But we can stop them ... - 0 views

www.theguardian.com/...-harbour-ruling-edward-snowden

surveillance state NSA EU data privacy litigation

shared by Paul Merrell on 12 Oct 15 - No Cached
  • On Tuesday, the European court of justice, Europe’s supreme court, lobbed a grenade into the cosy, quasi-monopolistic world of the giant American internet companies. It did so by declaring invalid a decision made by the European commission in 2000 that US companies complying with its “safe harbour privacy principles” would be allowed to transfer personal data from the EU to the US. This judgment may not strike you as a big deal. You may also think that it has nothing to do with you. Wrong on both counts, but to see why, some background might be useful. The key thing to understand is that European and American views about the protection of personal data are radically different. We Europeans are very hot on it, whereas our American friends are – how shall I put it? – more relaxed.
  • Given that personal data constitutes the fuel on which internet companies such as Google and Facebook run, this meant that their exponential growth in the US market was greatly facilitated by that country’s tolerant data-protection laws. Once these companies embarked on global expansion, however, things got stickier. It was clear that the exploitation of personal data that is the core business of these outfits would be more difficult in Europe, especially given that their cloud-computing architectures involved constantly shuttling their users’ data between server farms in different parts of the world. Since Europe is a big market and millions of its citizens wished to use Facebook et al, the European commission obligingly came up with the “safe harbour” idea, which allowed companies complying with its seven principles to process the personal data of European citizens. The circle having been thus neatly squared, Facebook and friends continued merrily on their progress towards world domination. But then in the summer of 2013, Edward Snowden broke cover and revealed what really goes on in the mysterious world of cloud computing. At which point, an Austrian Facebook user, one Maximilian Schrems, realising that some or all of the data he had entrusted to Facebook was being transferred from its Irish subsidiary to servers in the United States, lodged a complaint with the Irish data protection commissioner. Schrems argued that, in the light of the Snowden revelations, the law and practice of the United States did not offer sufficient protection against surveillance of the data transferred to that country by the government.
  • The Irish data commissioner rejected the complaint on the grounds that the European commission’s safe harbour decision meant that the US ensured an adequate level of protection of Schrems’s personal data. Schrems disagreed, the case went to the Irish high court and thence to the European court of justice. On Tuesday, the court decided that the safe harbour agreement was invalid. At which point the balloon went up. “This is,” writes Professor Lorna Woods, an expert on these matters, “a judgment with very far-reaching implications, not just for governments but for companies the business model of which is based on data flows. It reiterates the significance of data protection as a human right and underlines that protection must be at a high level.”
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  • This is classic lawyerly understatement. My hunch is that if you were to visit the legal departments of many internet companies today you would find people changing their underpants at regular intervals. For the big names of the search and social media worlds this is a nightmare scenario. For those of us who take a more detached view of their activities, however, it is an encouraging development. For one thing, it provides yet another confirmation of the sterling service that Snowden has rendered to civil society. His revelations have prompted a wide-ranging reassessment of where our dependence on networking technology has taken us and stimulated some long-overdue thinking about how we might reassert some measure of democratic control over that technology. Snowden has forced us into having conversations that we needed to have. Although his revelations are primarily about government surveillance, they also indirectly highlight the symbiotic relationship between the US National Security Agency and Britain’s GCHQ on the one hand and the giant internet companies on the other. For, in the end, both the intelligence agencies and the tech companies are in the same business, namely surveillance.
  • And both groups, oddly enough, provide the same kind of justification for what they do: that their surveillance is both necessary (for national security in the case of governments, for economic viability in the case of the companies) and conducted within the law. We need to test both justifications and the great thing about the European court of justice judgment is that it starts us off on that conversation.
Paul Merrell

Now the truth emerges: how the US fuelled the rise of Isis in Syria and Iraq | Seumas M... - 0 views

www.theguardian.com/...us-isis-syria-iraq

war & peace U.S.-foreign-policy ISIL litigation Al-Nusrah

shared by Paul Merrell on 07 Jun 15 - No Cached
  • The war on terror, that campaign without end launched 14 years ago by George Bush, is tying itself up in ever more grotesque contortions. On Monday the trial in London of a Swedish man, Bherlin Gildo, accused of terrorism in Syria, collapsed after it became clear British intelligence had been arming the same rebel groups the defendant was charged with supporting. The prosecution abandoned the case, apparently to avoid embarrassing the intelligence services. The defence argued that going ahead withthe trial would have been an “affront to justice” when there was plenty of evidence the British state was itself providing “extensive support” to the armed Syrian opposition. That didn’t only include the “non-lethal assistance” boasted of by the government (including body armour and military vehicles), but training, logistical support and the secret supply of “arms on a massive scale”. Reports were cited that MI6 had cooperated with the CIA on a “rat line” of arms transfers from Libyan stockpiles to the Syrian rebels in 2012 after the fall of the Gaddafi regime. Clearly, the absurdity of sending someone to prison for doing what ministers and their security officials were up to themselves became too much. But it’s only the latest of a string of such cases. Less fortunate was a London cab driver Anis Sardar, who was given a life sentence a fortnight earlier for taking part in 2007 in resistance to the occupation of Iraq by US and British forces. Armed opposition to illegal invasion and occupation clearly doesn’t constitute terrorism or murder on most definitions, including the Geneva convention.
  • But terrorism is now squarely in the eye of the beholder. And nowhere is that more so than in the Middle East, where today’s terrorists are tomorrow’s fighters against tyranny – and allies are enemies – often at the bewildering whim of a western policymaker’s conference call.
  • A revealing light on how we got here has now been shone by a recently declassified secret US intelligence report, written in August 2012, which uncannily predicts – and effectively welcomes – the prospect of a “Salafist principality” in eastern Syria and an al-Qaida-controlled Islamic state in Syria and Iraq. In stark contrast to western claims at the time, the Defense Intelligence Agency document identifies al-Qaida in Iraq (which became Isis) and fellow Salafists as the “major forces driving the insurgency in Syria” – and states that “western countries, the Gulf states and Turkey” were supporting the opposition’s efforts to take control of eastern Syria. Raising the “possibility of establishing a declared or undeclared Salafist principality”, the Pentagon report goes on, “this is exactly what the supporting powers to the opposition want, in order to isolate the Syrian regime, which is considered the strategic depth of the Shia expansion (Iraq and Iran)”.
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  • Which is pretty well exactly what happened two years later. The report isn’t a policy document. It’s heavily redacted and there are ambiguities in the language. But the implications are clear enough. A year into the Syrian rebellion, the US and its allies weren’t only supporting and arming an opposition they knew to be dominated by extreme sectarian groups; they were prepared to countenance the creation of some sort of “Islamic state” – despite the “grave danger” to Iraq’s unity – as a Sunni buffer to weaken Syria. That doesn’t mean the US created Isis, of course, though some of its Gulf allies certainly played a role in it – as the US vice-president, Joe Biden, acknowledged last year. But there was no al-Qaida in Iraq until the US and Britain invaded. And the US has certainly exploited the existence of Isis against other forces in the region as part of a wider drive to maintain western control.
  • The calculus changed when Isis started beheading westerners and posting atrocities online, and the Gulf states are now backing other groups in the Syrian war, such as the Nusra Front. But this US and western habit of playing with jihadi groups, which then come back to bite them, goes back at least to the 1980s war against the Soviet Union in Afghanistan, which fostered the original al-Qaida under CIA tutelage. It was recalibrated during the occupation of Iraq, when US forces led by General Petraeus sponsored an El Salvador-style dirty war of sectarian death squads to weaken the Iraqi resistance. And it was reprised in 2011 in the Nato-orchestrated war in Libya, where Isis last week took control of Gaddafi’s home town of Sirte. In reality, US and western policy in the conflagration that is now the Middle East is in the classic mould of imperial divide-and-rule. American forces bomb one set of rebels while backing another in Syria, and mount what are effectively joint military operations with Iran against Isis in Iraq while supporting Saudi Arabia’s military campaign against Iranian-backed Houthi forces in Yemen. However confused US policy may often be, a weak, partitioned Iraq and Syria fit such an approach perfectly.
  • What’s clear is that Isis and its monstrosities won’t be defeated by the same powers that brought it to Iraq and Syria in the first place, or whose open and covert war-making has fostered it in the years since. Endless western military interventions in the Middle East have brought only destruction and division. It’s the people of the region who can cure this disease – not those who incubated the virus.
Paul Merrell

US-trained Syrian rebels refuse to fight ​al-Qaida group after kidnappings | ... - 0 views

www.theguardian.com/...usra-front-al-qaida-kidnapping

war & peace Syria U.S.-foreign-policy flop Division30

shared by Paul Merrell on 09 Aug 15 - No Cached
  • A group of Syrian rebels that includes fighters trained by the United States have declared their refusal to fight al-Qaida’s affiliate in the country, the Nusra Front, following a series of kidnappings by the militant group. A source in Division 30, which has endured a campaign of kidnappings by the Nusra Front, said they also oppose the American air strikes carried out in the last few days against the al-Qaida-linked fighters. The statements complicate the American strategy in Syria, which has suffered a string of setbacks and delays, deploying just over 50 fighters dedicated to fighting the terror group Islamic State in the year since its programme to train and equip rebels began. “With all the immense military power the US has at its disposal, the start to the mission is nothing short of an embarrassment and if it has any hope of succeeding, it needs to show results fast,” said Charles Lister, a visiting fellow at the Brookings Doha Center and an expert on Syrian insurgent groups. The Nusra Front launched a campaign of kidnappings and attacks against Division 30 shortly after the arrival of the first contingent of 50 to 60 US-trained fighters from Turkey, accusing the group of seeking to spread American influence.
  • The Qaida affiliate, whose fighters have pledged allegiance to Ayman al-Zawahiri, kidnapped Division 30’s overall commander last week along with six others as they planned an offensive against Isis positions in northern Aleppo. Nusra then attacked Division 30’s headquarters, killing five fighters and wounding 18 others, as the US-backed rebel group appealed for peace. The American-led coalition that has been assembled to fight Isis bombed Nusra positions in Syria in apparent retaliation. The US had previously targeted a Nusra-affiliated faction known as the Khorasan Group, which the Americans say is planning attacks against the west from inside Syria. Nusra’s leader has denied the group exists. Nusra’s campaign against the US-backed rebel unit continued this week, with the Syrian Observatory for Human Rights, a monitoring network with wide contacts inside Syria, saying Nusra kidnapped five more members of Division 30. A source in the US-backed group said those captured were actually families of the fighters.
  • “Division 30 was formed by the honorable sons of Syria to free their nation from Assad’s gangs and Daesh [Isis],” the statement said. “Division 30 pledges before the Syrian people to commit to the principles under which it was formed and to not be dragged into any side battle with any faction, and that it has not fought and will not fight the Nusra Front or any other faction regardless of name or ideology.” A source in Division 30 told the Guardian the group still has members training with the US and that they opposed American airstrikes against Nusra. “We have nothing to do with the coalition strikes, that is the truth and we are opposed to strikes against the Nusra Front’s facilities to this day,” the source said. “Our goal is clear – Daesh followed by the regime.” The latest declarations raise questions about the ability of the US to influence the rebels it has trained on the ground, and the viability of such an effort within Syria’s complex web of insurgent politics and alliances, where Isis and Nusra have emerged as two of the most powerful groups fighting on the ground.
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  • It is unclear how many of the rebels actually trained by the US have been incapacitated in the campaign, with conflicting reports from activists and the rebel group itself, which says only one of its US-trained fighters has “disappeared”. In a new statement after the latest spate of kidnappings, Division 30 pledged never to fight Nusra and said it was focused on fighting Isis and the regime of President Bashar al-Assad.
  • “The group almost certainly does not believe some of the things it has said lately, including protesting at US strikes on Nusra, but you can hardly blame them for such attempts at rescuing their credibility on the ground,” said Lister. “It’s quite telling in fact that a majority of the mainstream opposition now views Division 30 and the train and equip mission with intense suspicion – not only for the lack of regime focus, but for the disastrous start the 54 fighters have had.”
  • Paul Merrell on 09 Aug 15
     
    So the U.S. was planning on training 5,000 "moderate" Syrian rebels a year to first fight ISIL and then Assad. But after months of delay, they could only come up with 60 trainees. Now that "Division 60" is chewed up, leaderless, and refuses to fight. U.S. foreign poiicy seems to have issues in its implementation in the Mideast.
Joseph Skues

Why capitalism can't meet human needs - 0 views

www.workers.org/socialism

jobs capitalism OVERPRODUCTION

shared by Joseph Skues on 14 Aug 10 - Cached
  • This crisis began when the housing bubble burst. Capitalist banks were lending money to profit-seeking real estate developers to build houses. The same banks were lending money to mortgage companies to make as many loans as they could. The goal was to boost profits. Soon there were more houses than the workers and the middle class could buy. The prices of homes fell. Mortgages could not be refinanced. Workers could not pay the steep increases in interest rates built into their loans. Banks stopped lending. Millions of households went into foreclosure. Put simply, people became homeless because there were too many houses! Not too many houses that were needed or already here, but too many houses that can be sold at a profit. Furthermore, the workers who build homes and all the workers who make the things that go into homes are losing their jobs because these homes can no longer be sold at a profit. That is the essence of all the capitalist crises that have occurred since the first crisis in 1825. It is the crisis of overproduction.
  • Now the crisis of overproduction is sweeping the auto industry. From the auto industry and the housing industry it is spreading throughout the economy. The stock markets are plummeting because the financial bailouts, the pumping of trillions of dollars into the banks, cannot stop the capitalist economic crisis.
  • Profits consist of unpaid labor.
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  • Under the system of capitalist exploitation wealth flows to the top, and the level of inequality is obscene.
  • the super-rich who have all the levers of power in society, owned 34.3 percent of the wealth in 2004.
  • Racism and national oppression
  • distribution of wealth under capitalism
  • the median wealth (that is, savings and other assets) of households by race in 2004 was $140,700 for whites, $20,600 for African Americans and $18,600 for Latin@s
  • Oppression and economic discrimination also fall on women and lesbian, gay, bi and trans people under capitalism
  • sex and gender bias as a way to divide and conquer.
  • A system in which people are homeless because there are too many homes must go
  • How else could 1 percent of the population dominate the workers and oppressed
  • As the present crisis engulfs wider and wider sections of the workers, the potential for bringing about that unity is growing stronger.
  • The Pentagon is nothing more than an enforcer for U.S. capitalism
  • The growing witch-hunt against undocumented workers has the same poisonous, divisive goal.
  • in which workers are losing their jobs and being plunged into poverty because they have produced too much wealth
  • which cannot provide jobs and education but imprisons 2.4 million people
  • majority of them Black and Latin@, is bankrupt
  • where production takes place for human need, not for profit. The class that produces the wealth, the multinational working class, should own and distribute that wealth.
  • Trillions of dollars are now being used to bail out the banks and fund the Pentagon under capitalism. Under socialism, that money would guarantee that everyone would have a decent job and income, free health care, affordable housing, free education, low-cost transportation, healthy, reasonably priced food and much more. The well-being of the multinational working class would be the goal of society, not their exploitation as it is under capitalism.
Gary Edwards

Why Are We So Afraid To Fix Banks The Right Way?* | Clusterstock Henry Blodgett - 0 views

clusterstock.alleyinsider.com/...aid-to-fix-banks-the-right-way

finacial-crisis

shared by Gary Edwards on 21 Jan 09 - Cached
  • a debt-equity swap
  • LIF said: Jan. 19, 3:17 PM MY PLAN 1. Mandate a 12-1 leverage cap for all financial institutions to take effect within 180 days. This 12-1 leverage cap has to be calculated using real market prices, not mark-to-model prices. 2. Temporary ban on capital raising by banks – water can’t dilute poison. You eliminate the poison first then add more water. 3. Force banks, etc to reach this 12-1 leverage cap by selling their toxic assets within 180 days via a US Govt Auction. The US Govt will be the Auctioneer but will NOT bid for assets 4. Any bank that is unable to sell sufficient assets to bring it under the 12-1 leverage cap will automatically nationalized by the US Govt at a price of $1. All shareholdrers and bond holders forfeit their assets. This will provide an incentive to the banks/financial institutions to sell these assets. 5. The US Govt will now hold all the toxic assets to maturity - this will prevent private market bidders from low-bidding in (3) above. Private market bidders in essence are being told, you buy the assets during the auction or you will not have another opportunity to buy the assets, as the US Govt will sieze them at an effective rate of ZERO and then hold them to maturity. 6. Any bank that falls under nationalization will also have its CEO, Board of Directors and members of the Management committee for the past 5-10 years disgorge all compensation earned during the past 5-10 years. 7. Create standardized CDS products that traded on an electronic exchange. All non-standard CDS products should be liquidated in the OTC market or swapped into standardized CDS products prior to the commencement of the new CDS exchange. The exchange will commence within180 days. 8. New Mortgage Financing Rules: 20-30% minimum govt mandated down payments. Strict Debt to Income limits, etc. These rules must be codified into federal law. 9. New Credit Card/Auto Finance rules: strict rules on the amount of credit card/Auto finance debt available to consumers.
  • Gary Edwards on 21 Jan 09
     
    You don't have to subsidize banks and their stakeholders at taxpayer expense to avoid another Lehman.  You just have to fix the banks the right way. What's the right way? * Temporarily seize the banks * Write their assets down to nuclear-winter levels (or, if desired, put them in a big bad bank, as Sheila Bair wants to do.) * Convert enough of their debt to equity to put them in a strong capital position. That's it.  No taxpayer money.  No citizen outrage.  No comical "Yes, we're lending" assurances when what the banks are really doing is, sensibly, hoarding everything. We could do this to Citigroup and Bank of America tomorrow afternoon, and on Wednesday morning, two of our biggest banks would be rock solid (they could also still be publicly traded, under the same ticker symbols, with different shareholders). 
Gary Edwards

How JP Morgan Took Over All Kentucky's Financial Services, And Why You Should Be Scared... - 0 views

www.alternet.org/...C_and_why_you_should_be_scared

Banksters JP-Morgan-Chase financial-collapse

shared by Gary Edwards on 06 Aug 11 - No Cached
  • Writing in response to the JP lawsuit on his Rolling Stone blog, Taibbi lamented that big banks were getting away with crimes that, when pulled off by blue-collar muscle outfits like the mob (and they are), result in lengthy jail sentences. Fraud on the part of JP Morgan and other corporate banks, he concluded, is “not going to stop until people start doing hard time for these crimes.”
  • Gary Edwards on 06 Aug 11
     
    On July 1, JP Morgan Chase became the Commonwealth's bank. As the state's official depository, JP now receives all deposits, writes all checks and makes all wire transfers on the $12-15 billion that flow through Kentucky state government in the course of a fiscal year. It will cut payroll checks, receive federal and other funds earmarked for the state, and disburse educational or transportation or any other funds to their appropriate monetary endpoints. For its trouble, the bank will receive $1.3 million in state fees and the ability to re-lend idle state funds out to customers for private gain. Yes, you should be worried. JP's decade A global corporation with more than $2 trillion in assets and operations in 60 countries, JP Morgan Chase has been a major figure in the ongoing global financial crisis. As one of the largest private banks in the U.S., the bank made incredible amounts of money by underwriting many of the questionable loans (sub-prime, zero down, adjustable rate) that fueled the American housing bubble. It then made even more money by packaging hundreds of these shitty loans into a single "product," a mortgage backed security, which it sold like Twinkies to pious religious non-profits, filthy-rich hedge fund managers, municipal fire-fighters, retired auto-workers, and the like, each security effectively putting these groups on the hook-and not JP-for the shitty loans that it had helped create. When, inevitably, individual homeowners began to default on their loans, thereby triggering the stock market collapse of 2008, JP Morgan found a way to make money on that, too, by buying insurance (known as credit default swaps) on the shitty securities of shitty mortgages that it had sold to unwitting investors. For good measure, the U.S. government handed the corporation $25 billion in TARP funds, $30 billion in U.S. treasury backing to purchase bankrupt Bear Stearns (previously a global leader in mortgage backed securities), and the biggest chun
Gary Edwards

GDP Is..... Better Than Expected? - Or Filled With Outright Lies? The Market Ticker - 0 views

market-ticker.denninger.net/.......-Better-Than-Expected.html

obam-socialism marxism financial-crisis banksters

shared by Gary Edwards on 29 Oct 09 - Cached
  • Gary Edwards on 29 Oct 09
     
    Whoa!  Incredible fact filled analysis of the pre election GDP numbers released by Obama. excerpt:  Disposable personal income decreased in nominal terms q/o/q by 5.9% while in real terms (inflation adjusted) it decreased q/o/q by 7.4%!  That is an enormous swing in purchasing power and not in the right direction! Personal outlays increased $148.2 billion (5.8 percent) in the third quarter, compared with an increase of $8.2 billion (0.3 percent) in the second. Personal saving -- disposable personal income less personal outlays -- was $364.6 billion in the third quarter, compared with $533.1 billion in the second. The personal saving rate -- saving as a percentage of disposable personal income -- was 3.3 percent in the third quarter, compared with 4.9 percent in the second. So into decreasing personal income and disposable personal income people tried to spend anyway.  Best guess: most of this was "cash for clunkers", which is the worst sort of "spending" - it is the taking on of more debt by replacing a paid-off car with one that now comes with a shiny (and nasty) payment book.  The Trade: Go long auto repo outfits (aside: as far as I know there are no publicly-traded repo companies.) Nothing in here I like; to the contrary, this report sucks and on a drill-down appears to be full of outright lies.
Gary Edwards

The Purchase Of Our Republic | Zero Hedge - 0 views

www.zerohedge.com/...purchase-our-republic

shared by Gary Edwards on 06 Jun 14 - No Cached
  • The massive consolidation of wealth, combined with the removal of any limits on money in campaigns, has allowed for the purchase of our government. Today I am publishing a comprehensive and important guest essay, The Purchase of Our Republic, by longtime correspondent Y. Falkson.
  • Americans know that something is wrong, deeply wrong. They see signs of the problem everywhere: income inequality, growing concentration and power of mega corporations, political donations/corruption, the absence of jobs with decent salaries, the explosion of the US prison population, healthcare costs, student loan debt, homelessness, etc. etc.  However, the true causes and benefactors behind these problems are purposely hidden from view. What Americans see is Kabuki Theater of a functioning form of capitalism and democracy, but beyond this veneer our country has devolved into the exact opposite. Those who benefit from this crony capitalist state go to extreme lengths to paper over the reality and convince Americans that the system works, the American Dream is still a reality and that American democracy is in fact democratic. Below I hope to begin to outline some of the underlying dynamics and trends that have evolved in recent decades and led us so far from what we once were. As fun as it would be, the answer is not some evil conspiracy by the Illuminati, but rather the unfortunate result of three long term and mutually reinforcing components that have been attacking the fundamental roots of the structure of our Republic. The first is the increased concentr
  • ation of corporate and private wealth. Both of which are quickly yelled down in the media as anti-free market and class war hysteria. The second is the use of this wealth to capture all three branches of government in order to ensure the continued extraction of capital from the many and to the few.The rich might have climbed the ladder because they earned it, but they have then purchased government to pull up the ladder behind them. The consequence of the first two components is a democracy in name only that represents the very few.
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  • 1. Faux Capitalism = Wealth Consolidation / Income Inequality
  • While there is no true beginning to the story, we can start with the incredible build up and concentration of wealth among corporations in recent decades. The USA now boasts a cartel-like set of corporate titans in almost every industry. It goes beyond, but certainly includes, our Too Biggerer To Fail banks, merged from what was 37 banks in 1995 into a Frankenstein’s monster like 5 (Citigroup, JP Morgan-Chase, Bank of America, Wells Fargo and Goldman Sachs). In agriculture, Monsanto alone controls over 85% of all corn and soy bean crops, four companies control 83% of the beef market, 66% of the hog market and 58% of the chicken market. So while shopping at the grocery store might appear to be the manifestation of capitalism at its finest, it doesn’t take much digging to look behind the curtain to see how little competition truly exists.
  • When the average American goes to pick up some groceries, they are shopping at Walmart and buying something from P&G that is mostly made of Monsanto corn. Is that true choice? The same story plays out with our news and media (and other industries) where we have gone from 50 companies in 1983 to the big 6 which control over 90% of all media. Is choosing to watch one of 30 news channels, all of which are owned by News Corp (Rupert Murdoch) a real choice? This is not capitalism and they are not competing, not in the true sense of the word. Along with this consolidation of corporations in recent decades, their senior leaders have taken up a larger and larger piece of the pie at the expense of their employees. In particular, the ratio of CEO-to-worker pay has increased 1,000 percent since 1950. Unsurprisingly, Walmart is both the largest employer in the country and the worst CEO pay offender with a ratio of over 1000:1. This is at a time where worker productivity has increased significantly, something that historically correlated with increased pay. But no more. It’s a new twist on the old Soviet saying “we pretend to work and they pretend to pay us”, but now it’s closer to “we do all of the work and they pretend to pay us”.
  • Private Wealth: As a consequence of the royal tribute we pay to the C-suite class these days, we have likely surpassed the pre-Depression Roaring Twenties in terms of inequality.
  • This, amazingly, has only accelerated since the crisis in 2008 in thanks to bailouts, Quantitative Easing and other gifts from Congress and the Fed. The wealthy 1% and in particular the .01% have now grown their fortunes to levels that tax comprehension and even their ability to spend it (the decisions by a few billionaires such as Bill Gates to essentially donate his fortune is a tacit acknowledgement that our current system over provides wealth to a select few).
  • So what is an incredibly wealthy capitalist CEO of a mega-corporation do once they control their industry and have essentially limitless wealth? Well in a competitive market, the only way to go from the top is down and the only thing that can make that happen is competition. Consequently, competition must be avoided whenever possible.
  • To squash or prevent competition, the oligopolies and oligarchs target their resources on the one place that can make competition illegal, our government.Something to keep in mind the next time you see a corporate billionaire grandstanding about the importance of “Free Markets” when their strategy is quite the opposite. As this capture of the government has taken place we have essentially shifted from capitalism and to crony capitalism. So we now have industries that have mastered the art of faking capitalism by turning our government into one that fakes democracy. This government takeover took time, but the purchase of all 3 branches of government has almost been completed by 2014. You don’t have to take my word for it, luckily that has now been empirically proven in an analysis of over 20 years of government policy where the clear conclusion was that policy makers respond solely to those in the top 90th percentile and essentially ignore the large majority of Americans.
  • 2. Wealthy Purchase of Government Institutions / Elections
  • Purchase of the Executive Branch:
  • Let’s take a step back and take a glimpse at how the government was purchased, beginning with the executive branch. In 1980, Reagan’s election cost less than $300 million. When Bush beat Kerry in 2004, it cost almost 3x times as much, almost $900 Million. 4 years later, the 2008 election cost a record $1.3 Billion. It was in this election where Obama hammered the final nail in the coffin for government funded for elections. Obama, more so than any other candidate in recent decades had the widespread support of millions of small donors, but in the end I guess it wasn’t enough. So when Obama “leaned to the green”, it forever set the precedent that you can’t win without the backing of our nation’s oligarchs. Consequently, the money has only gushed in since as the cost of Obama’s reelection in 2012 skyrocketed to an unfathomable $7 billion. Needless to say this is slightly above the rate of inflation. Our Presidents are now preselected exclusively by a tiny fraction of Americans can have the money to fund what has become necessary for a legitimate run. Summary: Candidates spend years courting the super-rich to build up a multi-billion dollar war chest. Only those who succeed can actually run a campaign that an average American will be aware of. Then Americans get to choose one of the pre-selected “candidates”. No wonder voter turnout is so low… Executive branch, check!
  • – Note that media corporations benefit doubly as they can use their cash to fund elections, but are also the beneficiary of all that money as it is used for campaign spending.
  • Purchase of the Legislative Branch:
  • The process has progressed similarly in Congress. In 1978, outside groups spent $303,000 on congressional races. In 2012 that was up to $457,000,000. That is over 1,500 times the level in 1978. It would be funny, if it was so blatant and terrifying. By many accounts, our “leaders” in Congress spend 50% or more of their time working the phones or fundraisers rather than trying (and failing) to actually do the “people’s business”. Let’s also take a minute to appreciate the hypocrisy of anyone that pretends that the money doesn’t influence our government. Businesses do not give to politicians for charity. This is a payment for services that has proven exceedingly reliable and profitable. The ROI for money invested in purchasing Congressman is what CEO dreams are made of. No wonder the incentive is to invest in Congress rather than R&D or marketing. There are very few places in the world or times in history where you can find ROI’s in the thousands, or even the tens of thousands.
  • Review: Congressmen beg for money to get elected, make sure to vote the way your benefactors would like, consequently get more money to get elected again. If at any point they do lose or quit, they take the big payday to work for those who have been paying them all along. Legislative Branch, Check!
  • In addition, increasingly those who work on Congress (and regulators) were previously employed by these large corporations or expect to work there later. A recent example is Chris Dodd who left the Senate the head lobbyist for Hollywood at the MPAA, the guys behind SOPA and PIPA, but there are many many others.
  • Judicial Branch Endorsement of the Purchase of Government:
  • Last but not least, we have the enabling Judicial Branch. It only took a few purchased presidents to ensure the appointment of a majority of “free market” and “pro-business” judges. For instance, and disgracefully, Clarence Thomas was once legal counsel for Monsanto, but has not once recused himself from any cases involving Monsanto and always votes in their favor. These radicals have now fully endorsed and enabled the influx of money used to purchase the other branches. Specifically, 2 major decisions have completely opened the floodgates, Citizens United and McCutcheon. The first allowed unlimited contributions of corporate money into elections and brought us the notorious declaration that “corporations are people” and that “money is free speech”. This was more recently followed up with the private wealth equivalent in McCutcheon. In this ruling, Supreme Court Chief Justice John Roberts said as part of his majority opinion (presumably with a straight face) “… nor does the possibility that an individual who spends large sums may garner influence over or access to elected officials or political parties”. And with this, the Supreme Court has fully endorsed both major sources of immense wealth to purchase our elections and consequently our government. Review: The rich fund Presidential elections, Presidents nominate “business-friendly” judges and then the bought Congress approves their nominations. New judge then votes to ensure even more money is allowed to purchase elections. Judicial Branch, CHECK!
  • 3. A Faux Republic Dependent Upon the Funders and Not the Voters
  • The Founder’s Hope and the Sad Reality:
  • Acknowledging where we are as a country, it is often helpful to look to where we started for some perspective. Unsurprisingly, this type of problem was not overlooked back in the 18th century. In 1776, James Madison stated that his goal was to design a republic in which “powerful interest groups would be rendered incapable of subdoing the general will”. Madison hoped, perhaps naively, that factions would be thwarted by competing with other factions. Sadly, we are now in a time where factions (aka wealthy special interests) subdue the will of the people and ensure the government responds to them alone on those issues where they have a “special interest” and consequently asymmetric stakes in the game (Charles Hugh Smith). As a result, these groups essentially collude to allocate their resources to their own issues, but do not “thwart” or compete with other factions as they do the same. It’s a pretty great system, as long as you’re one of the wealthy few who can use their money to drown out the poor and voiceless many. And just like that, what was once a Republic has become a corrupt shell of its past self. All the signs are still there; votes, elections, campaigns, branches of government, etc., but behind the scenes the only ones represented are those who can afford to be heard.
  • Summary: This massive consolidation of wealth, combined with the removal of any limits on money in campaigns, has allowed for the purchase of our government, or as Dick Durban once stated, “frankly they [the banks in this case] own the place”. If money = free speech, then those with all the money, have all the free speech.
  • What Might Help? Now that I have likely and thoroughly depressed the reader, let’s bounce around some ideas for what can be done. As stated in the beginning, this is not an unknown problem and many people are promoting a number of ways to fix or at least ameliorate the problem. I will briefly describe just a few which I think provide some direction any of us could easily implement or support.
  • Change the Rules: Laurence Lessig of Harvard Law has put forward a visionary proposal for re-writing the way that campaigns are financed in his book, Republic, Lost: How Money Corrupts Congress--and a Plan to Stop It. Put simply, he would like to empower every voter with a stipend, say $150 per election to give to whatever candidate or candidates they prefer. If you would like to accept this money, you would need to forgo any other contributions or support (one would hope including the indirect PAC kind). This would actually provide even more money than is used in current elections, but would effectively democratize the funding process. While there would still be a “funding election” that takes place before the actual election, the funding would not be unequally provided. Lessig’s work has only begun, as this sort of bill or likely constitutional reform is nearly impossible to achieve, but he has undertaken and I assume will continue to implement many brave and creative ways of bringing about the change all American’s should support. Most recently he has suggested we begin to fund, ironically enough, a Super PAC to end all Super PACs. It would be funded with the solitary goal of changing how money impacts our elections. Please support them here: www.mayone.us/
  • Change Our Day-to-Day: At the more micro level, Charles Hugh Smith believes that we will inevitably see our overly centralized and inefficient system erode away as it is replaced by more resilient, local and efficient businesses and societies outside of the current system. With that in mind, he recommends that “all anyone can do is the basic things--lower our energy footprint, stay healthy and avoid unnecessary medications and procedures, support local businesses, organic food growers, etc. In other words, what we can do is support local businesses that are part of the emerging economy rather than support corporate cartels.” Your Vote Does Matter: Do you live in Ohio, Florida or New Hampshire? Probably not. Despite what we are told every 4 years, there are actually states outside of the “swing states”, and even more surprising, the very large majority of Americans live in those states where your “vote doesn’t matter”. New Yorkers an Californians all know their state will turn Blue no matter who the candidates are and either don’t vote at all, or often vote for the Blue team in order to feel like they are on the winning side.
  • The truth is that if you see the election as Red vs. Blue, you vote probably doesn’t matter. But here is the trick, if all the people who think their vote didn’t matter decided to vote for whom they might actually believe in, then their votes just might matter.
  • What if all the growing number of “Independents” (who usually still vote Blue), chose to vote for a third party? What if a third party candidate won a state like New York or California? What if that candidate was one whose primary promise to the voters was to champion a change to the role of money in government (perhaps in line with what Lessig proposes)? Would you vote for such a person?I would argue you should. If California alone (with 55 electoral votes) were to vote for a 3rd party that would likely prevent either Red or Blue candidate from winning the requisite 270 electoral votes.
  • Think about the message that would send to both parties. I would predict that both sides would start to bend over backwards for an endorsement from that 3rd party and they would have to get it by taking up the same primary cause for reforming money in government. Consequently, at the root of our corrupted system which is perpetually ignored as both sides might suddenly become the big issue of the election. Then maybe we might begin to turn things around.
  • Sources: Charles Hugh Smith (oftwominds, Surivival+, etc.), Yves Smith (Naked Capitalism, Econned), Laurence Lessig (Republic Lost, multiple TED Talks), Matt Taibbi (blog at Rolling Stone and now at The Intercept), Zero Hedge, John Robb, Max Keiser, Clay Shirky (Cognitive Surplus), Aldous Huxley (Brave New World, Brave New World Revisited), George Orwell (1984), Michael Lewis, Daniel Kahneman (Thinking Fast and Slow), James Richards (Currency Wars), Han Joon Chang (23 Things They Don’t Tell You About Capitalism) and Joseph Stiglitz (Mismeasuring Our Lives) 
Paul Merrell

US ordered to explain withholding of Iraq and Afghanistan torture photos | US news | Th... - 0 views

www.theguardian.com/...e-photographs-iraq-afghanistan

war & peace torture photos FOIA litigation

shared by Paul Merrell on 31 Oct 14 - No Cached
  • The Obama administration has until early December to detail its reasons for withholding as many as 2,100 graphic photographs depicting US military torture of detainees in Iraq and Afghanistan, a federal judge ordered on Tuesday. By 12 December, Justice Department attorneys will have to list, photograph by photograph, the government’s rationale for keeping redacted versions of the photos unseen by the public, Judge Alvin Hellerstein instructed lawyers. But any actual release of the photographs will come after Hellerstein reviews the government’s reasoning and issues another ruling in the protracted transparency case. While Hellerstein left unclear how much of the Justice Department’s declaration will itself be public, the government’s submission is likely to be its most detailed argument for secrecy over the imagery in a case that has lasted a decade.
Paul Merrell

FBI demands new powers to hack into computers and carry out surveillance | US news | Th... - 0 views

www.theguardian.com/...hacking-computers-surveillance

surveillance state FBI Fed.R.Crim.P.-41 roving-warrants

shared by Paul Merrell on 01 Nov 14 - No Cached
  • The FBI is attempting to persuade an obscure regulatory body in Washington to change its rules of engagement in order to seize significant new powers to hack into and carry out surveillance of computers throughout the US and around the world. Civil liberties groups warn that the proposed rule change amounts to a power grab by the agency that would ride roughshod over strict limits to searches and seizures laid out under the fourth amendment of the US constitution, as well as violate first amendment privacy rights. They have protested that the FBI is seeking to transform its cyber capabilities with minimal public debate and with no congressional oversight. The regulatory body to which the Department of Justice has applied to make the rule change, the advisory committee on criminal rules, will meet for the first time on November 5 to discuss the issue. The panel will be addressed by a slew of technology experts and privacy advocates concerned about the possible ramifications were the proposals allowed to go into effect next year.
  • “This is a giant step forward for the FBI’s operational capabilities, without any consideration of the policy implications. To be seeking these powers at a time of heightened international concern about US surveillance is an especially brazen and potentially dangerous move,” said Ahmed Ghappour, an expert in computer law at University of California, Hastings college of the law, who will be addressing next week’s hearing. The proposed operating changes related to rule 41 of the federal rules of criminal procedure, the terms under which the FBI is allowed to conduct searches under court-approved warrants. Under existing wording, warrants have to be highly focused on specific locations where suspected criminal activity is occurring and approved by judges located in that same district. But under the proposed amendment, a judge can issue a warrant that would allow the FBI to hack into any computer, no matter where it is located. The change is designed specifically to help federal investigators carry out surveillance on computers that have been “anonymized” – that is, their location has been hidden using tools such as Tor.
  • Were the amendment to be granted by the regulatory committee, the FBI would have the green light to unleash its capabilities – known as “network investigative techniques” – on computers across America and beyond. The techniques involve clandestinely installing malicious software, or malware, onto a computer that in turn allows federal agents effectively to control the machine, downloading all its digital contents, switching its camera or microphone on or off, and even taking over other computers in its network.
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  • Civil liberties and privacy groups are particularly alarmed that the FBI is seeking such a huge step up in its capabilities through such an apparently backdoor route. Soghoian said of next week’s meeting: “This should not be the first public forum for discussion of an issue of this magnitude.” Jennifer Granick, director of civil liberties at the Stanford center for internet and society, said that “this is an investigative technique that we haven’t seen before and we haven’t thrashed out the implications. It absolutely should not be done through a rule change – it has to be fully debated publicly, and Congress must be involved.” Ghappour has also highlighted the potential fall-out internationally were the amendment to be approved. Under current rules, there are no fourth amendment restrictions to US government surveillance activities in other countries as the US constitution only applies to domestic territory.
  • Another insight into the expansive thrust of US government thinking in terms of its cyber ambitions was gleaned recently in the prosecution of Ross Ulbricht, the alleged founder of the billion-dollar drug site the Silk Road. Experts suspect that the FBI hacked into the Silk Road server, that was located in Reykjavik, Iceland, though the agency denies that. In recent legal argument, US prosecutors claimed that even if they had hacked into the server without a warrant, it would have been justified as “a search of foreign property known to contain criminal evidence, for which a warrant was not necessary”.
  • Paul Merrell on 01 Nov 14
     
    This rule change has been in the works during the last year.  "The change is designed specifically to help federal investigators carry out surveillance on computers that have been "anonymized" - that is, their location has been hidden using tools such as Tor."  Are we dizzy yet? The State Department is pushing the use of TOR by dissidents in nations whose governments State and the CIA intends to overthrow. Meanwhile, Feed Bag, Inc. wants use of TOR to be sufficient grounds for installing malware on anyone using it to make their systems and all their systems can see or hear be an open book. Let's see. There's the First Amendment right to anonymous speech just to begin with. McIntyre v. Ohio Elections Comm'n, 514 US 334 (1995). ("Under our Constitution, anonymous pamphleteering is not a pernicious, fraudulent practice, but an honorable tradition of advocacy and of dissent. Anonymity is a shield from the tyranny of the majority. It thus exemplifies the purpose behind the Bill of Rights, and of the First Amendment in particular: to protect unpopular individuals from retaliation-and their ideas from suppression-at the hand of an intolerant society. The right to remain anonymous may be abused when it shields fraudulent conduct. But political speech by its nature will sometimes have unpalatable consequences, and, in general, our society accords greater weight to the value of free speech than to the dangers of its misuse.") (Internal citation omitted.) And of course there's the Natural Law liberty to whisper, to utter words in a way that none but the intended recipient can hear. So throw on the violation of the Fifth Amendment's Liberty clause. Then there's the plain language of the Fourth Amendment warrant clause, "particularly describing the *place* to be searched." Not to mention the major reason for the Fourth Amendment, to abolish the "general warrant" that had enabled the Crown to search wherever the warrant's executor's little heart desired.  And th
Paul Merrell

US Federal Reserve to end quantitative easing programme | Business | The Guardian - 0 views

www.theguardian.com/...-quantitative-easing-programme

banksters Fed quantitative-easing

shared by Paul Merrell on 01 Nov 14 - No Cached
  • The US Federal Reserve has called time on its $4.5tn bond-buying programme, halting a radical monetary policy introduced nearly six years ago to steer the world’s largest economy through the financial crisis. The central bank, led by Janet Yellen, said the final tranche of bonds under its quantitative easing programme would be bought this month, but it committed to keeping record low interest rates for “a considerable time”. Announcing the decision on QE, made at its October policy meeting, the Fed said: “The committee judges that there has been a substantial improvement in the outlook for the labour market since the inception of its current asset purchase programme. Moreover, the committee continues to see sufficient underlying strength in the broader economy to support ongoing progress toward maximum employment in a context of price stability. Accordingly, the committee decided to conclude its asset purchase programme this month.”
  • It brings to an end a programme which marked a departure for US monetary policy when it was launched in December 2008, hugely swelling the Fed’s balance sheet in an effort to prop up a battered financial system. The Fed began to slow its purchase of Treasury bonds and mortgage-backed securities in January, but until now it had not confirmed an end date. The central bank has steadily reduced its monthly bond purchases from a peak of $85bn a month to $15bn a month. Despite the end of its bond-buying programme, US monetary policy remains ultra loose, with an interest rate range at a record low of between zero and 0.25% since December 2008.
Paul Merrell

ACLU accuses NSA of using holiday lull to 'minimise impact' of documents | US news | Th... - 0 views

www.theguardian.com/...s-christmas-eve-lessens-impact

surveillance state NSA internal-reports FOIA litigation ACLU

shared by Paul Merrell on 29 Dec 14 - No Cached
  • The National Security Agency used the holiday lull to “minimise the impact” of a tranche of documents by releasing them on Christmas Eve, the American Civil Liberties Union (ACLU) said on Friday. The documents, which were released in response to a legal challenge by the ACLU under the Freedom of Information Act, are heavily – in some places totally –redacted versions of reports by the NSA to the President’s Intelligence Oversight Board dating back to 2007. A court ordered the documents released this past summer, and a 22 December deadline for that release was agreed upon, according to Patrick Toomey, a staff attorney at the ACLU’s national security project, because the NSA said it needed “six or seven months” to complete its review and redaction process. A spokesperson for the NSA said that the 22 December deadline, “which was agreed to by all parties,” was met.
  • But according to Toomey, the ACLU didn’t receive the documents until “late in the day on the 23rd” – the NSA sent them by FedEx late on the 22nd – and the NSA didn’t publicly release them until Christmas Eve. “I certainly think the NSA would prefer to have the documents released right ahead of the holidays in order to have less public attention on what they contain,” Toomey said. The redactions on the document are extreme, and their omissions tantalising. One entry, from the 4th quarter of 2008, reads: “On [redacted] [redacted] used the US SIGINT System (USSS) to locate [redacted] believed to be kidnapped [redacted] The selectors were tasked before authorization was obtained from NSA. After the NSA Office of General Counsel (OGC) denied the authorization request, [redacted] was found. He had not been kidnapped.” Another reads: “On [redacted] during an experimental collection and processing effort, NSA analysts collected [several lines of text redacted.] The messages were deleted [redacted] when the error was identified.”
  • Many entries are erased entirely, which means the documents reveal very little about how individuals who misuse the data were disciplined by the NSA, or how quickly errors were resolved. But, according to Toomey, they speak to a total picture of a “large number of different compliance violations. We don’t know how many.” He said the documents deepen the picture of the nature and extent of compliance violations by analysts working for the NSA.
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  • “There are certain portions of the documents that really vindicate some of the things [Edward] Snowden said when he first described the NSA surveillance in terms of the ability of analysts to conduct queries – without authorisation – of raw internet traffic,” Toomey said. Among the items redacted are sections detailing the total number of violations reported, with many ending up like this entry from 2013 “On [redacted] occasions during the fourth quarter, selectors were incorrectly tasked because of typographical errors.” This makes the scale of the problem difficult to gauge. Toomey said the ACLU would continue to sue for the release of those numbers. “More generally,” Toomey said, “just the range of different compliance violations makes it clear that at every step of the NSA’s collection of information there are vulnerabilities that leave the privacy of Americans at risk.”
Paul Merrell

Pentagon report: scope of intelligence compromised by Snowden 'staggering' | World news... - 0 views

www.theguardian.com/...nowden-leaks-national-security

surveillance state Snowden DoD-damage-assessment

shared by Paul Merrell on 23 May 14 - No Cached
  • • Classified assessment describes impact of leaks as 'grave' • Report does not include specific detail to support conclusions• 12 of 39 heavily redacted pages released after Foia request• Read the full Defense Intelligence Agency report
  • A top-secret Pentagon report to assess the damage to national security from the leak of classified National Security Agency documents by Edward Snowden concluded that “the scope of the compromised knowledge related to US intelligence capabilities is staggering”.The Guardian has obtained a copy of the Defense Intelligence Agency's classified damage assessment in response to a Freedom of Information Act (Foia) lawsuit filed against the Defense Department earlier this year. The heavily redacted 39-page report was prepared in December and is titled “DoD Information Review Task Force-2: Initial Assessment, Impacts Resulting from the Compromise of Classified Material by a Former NSA Contractor.”But while the DIA report describes the damage to US intelligence capabilities as “grave”, the government still refuses to release any specific details to support this conclusion. The entire impact assessment was redacted from the material released to the Guardian under a presidential order that protects classified information and several other Foia exemptions.Only 12 pages of the report were declassified by DIA and released. A Justice Department attorney said DIA would continue to process other internal documents that refer to the DIA report for possible release later this year.
  • The classified damage assessment was first cited in a news report published by Foreign Policy on January 9. The Foreign Policy report attributed details of the DIA assessment to House intelligence committee chairman Mike Rogers and its ranking Democrat Dutch Ruppersberger. The lawmakers said the White House had authorized them to discuss the document in order to undercut the narrative of Snowden being portrayed as a heroic whistleblower.The DIA report has been cited numerous times by Rogers and Rusppersberger and other lawmakers who claimed Snowden’s leaks have put US personnel at risk.
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  • But details to back up Rogers' claims are not included in the declassified material released to the Guardian.Neither he nor any other lawmaker has disclosed specific details from the DIA report but they have continued to push the “damage” narrative in interviews with journalists and during appearances on Sunday talk shows.
  • The declassified material does not state the number of documents Snowden is alleged to have taken, which Rogers and Ruppersberger have claimed, again citing the DIA’s assessment, was 1.7m. Nor does the declassified portion of the report identify Snowden by name.“[Redacted] a former NSA contractor compromised [redacted] from NSA Net and the Joint Worldwide Intelligence Communications System (JWICS),” the report says. “On 6 June 2013, media groups published the first stories based on this material, and on 9 June 2013 they identified the source as an NSA contractor who had worked in Hawaii.”JWICS is identified as a “24 hour a day network designed to meet the requirements for secure [top-secret/sensitive compartmented information] multi-media intelligence communications worldwide. The Defense Intelligence Agency (DIA) has directed that all Special Security Offices (SSOs) will install the JWICS.”The Washington Post, quoting anonymous sources, reported last October that Snowden “lifted the documents from a top-secret network run by the Defense Intelligence Agency and used by intelligence arms of the Army, Air Force, Navy and Marines.” The Post further claimed that Snowden “took 30,000 documents that involve the intelligence work of one of the services” and that he gained access to the documents through JWICS.
  • A top-secret Pentagon report to assess the damage to national security from the leak of classified National Security Agency documents by Edward Snowden concluded that “the scope of the compromised knowledge related to US intelligence capabilities is staggering”. The Guardian has obtained a copy of the Defense Intelligence Agency's classified damage assessment in response to a Freedom of Information Act (Foia) lawsuit filed against the Defense Department earlier this year. The heavily redacted 39-page report was prepared in December and is titled “DoD Information Review Task Force-2: Initial Assessment, Impacts Resulting from the Compromise of Classified Material by a Former NSA Contractor.” But while the DIA report describes the damage to US intelligence capabilities as “grave”, the government still refuses to release any specific details to support this conclusion. The entire impact assessment was redacted from the material released to the Guardian under a presidential order that protects classified information and several other Foia exemptions.
  • Only 12 pages of the report were declassified by DIA and released. A Justice Department attorney said DIA would continue to process other internal documents that refer to the DIA report for possible release later this year. Steven Aftergood, director of the Project on Government Secrecy at the Federation of American Scientists, questioned the decision to withhold specific details. "The essence of the report is contained in the statement that 'the scope of the compromised knowledge related to US intelligence capabilities is staggering'. But all elaboration of what this striking statement means has been withheld," he said. The assessment excluded NSA-related information and dealt exclusively with non-NSA defense materials. The report was distributed to multiple US military commands around the world and all four military branches.
  • The classified damage assessment was first cited in a news report published by Foreign Policy on January 9. The Foreign Policy report attributed details of the DIA assessment to House intelligence committee chairman Mike Rogers and its ranking Democrat Dutch Ruppersberger. The lawmakers said the White House had authorized them to discuss the document in order to undercut the narrative of Snowden being portrayed as a heroic whistleblower. The DIA report has been cited numerous times by Rogers and Rusppersberger and other lawmakers who claimed Snowden’s leaks have put US personnel at risk. In January, Rogers asserted that the report concluded that most of the documents Snowden took "concern vital operations of the US Army, Navy, Marine Corps and Air Force". "This report confirms my greatest fears — Snowden’s real acts of betrayal place America’s military men and women at greater risk. Snowden’s actions are likely to have lethal consequences for our troops in the field," Rogers said in a statement at the time.
  • But details to back up Rogers' claims are not included in the declassified material released to the Guardian. Neither he nor any other lawmaker has disclosed specific details from the DIA report but they have continued to push the “damage” narrative in interviews with journalists and during appearances on Sunday talk shows. The declassified portion of the report obtained by the Guardian says only that DIA “assesses with high confidence that the information compromise by a former NSA contractor [redacted] and will have a GRAVE impact on US national defense”. The declassified material does not state the number of documents Snowden is alleged to have taken, which Rogers and Ruppersberger have claimed, again citing the DIA’s assessment, was 1.7m.
  • No evidence has surfaced to support persistent claims from pundits and lawmakers that Snowden has provided any of the NSA documents he obtained to a “foreign adversary”. Ben Wizner, Snowden’s attorney at the American Civil Liberties Union, said: "This report, which makes unsubstantiated claims about alleged harm to national security, is from December of 2013. Just this month, Keith Alexander admitted in an interview that he doesn’t 'think anybody really knows what he [Snowden] actually took with him, because the way he did it, we don’t have an accurate way of counting'. In other words, the government’s so-called damage assessment is based entirely on guesses, not on facts or evidence."
  • Steven Aftergood, of the Federation of American Scientists, pointed out that the report's finding that the Snowden leaks had a "grave" impact did not follow any of the levels defined in the annex. "That is a bit odd," he said, adding: "Within this hierarchy, it is not clear where 'grave impact' would fall."
Paul Merrell

Proposed changes to US data collection fall short of NSA reformers' goals | US news | T... - 0 views

www.theguardian.com/...-data-collection-nsa-reformers

surveillance state NSA-reform DNI Clapper voluntary-reforms

shared by Paul Merrell on 05 Feb 15 - No Cached
  • The US intelligence community has delivered a limited list of tweaks to how long it can hold information on ordinary citizens and hide secret trawls for data, responding to Barack Obama’s call for reform of its surveillance practices in the wake of revelations about NSA practices. Published by the office of the director of national intelligence, James Clapper, just six days before a recently announced visit to Washington by the German chancellor, Angela Merkel, the report is the culmination of a year-long effort to respond to revelations by whistleblower Edward Snowden.
  • But the report does not appear to address the role of telecommunications companies in collecting metadata and the use of encryption to prevent hacking, and privacy critics were quick to pounce on a year of promises with little reform to show. “It’s hard to see much ‘there’ there,” Senator Ron Wyden said in a statement. “When it comes to reforming intelligence programs and protecting Americans’ privacy, there is much, much more work to be done.” The outline from the intelligence community also appears to fall short of the legislative changes attempted by campaigners in Congress, focusing instead on measures to tighten internal guidelines and provide foreigners with some of the protections allowed for US citizens. These measures include:
  • Limiting how long personal data gathered from non-US citizens can be held to five years, so long as it is deemed not relevant to ongoing intelligence investigations. Asking Congress to provide some foreign nationals access to legal redress if their private information has been wilfully disclosed by US intelligence agencies. Limiting to three years how long the FBI can prevent disclosure of its surveillance activities using so-called national security letters, unless a special agent deems otherwise.
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  • The official results of Obama’s call for surveillance reform also appear to have failed to address encryption. The FBI director, James Comey, and other officials have been highly critical of the use of encryption by tech companies such as Apple to protect their users’ information. Comey has argued that stronger encryption, baked in to some technology after the Snowden revelations, will aid criminals and terrorists and shut out law enforcement.
  • Other measures outlined in the new report include steps to clarify the protection given to whistleblowers if they follow internal rules and a requirement that “any significant compliance incident involving personal information, regardless of the person’s nationality” be reported to Clapper.
  • The intelligence report itself acknowledges that further reforms called for by the president, such as ending the collection of bulk data by the government, have not been implemented, possibly due to stalled legislative efforts in Congress.
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