• Category Archives News and Politics
  • Rand Paul and the rise of the libertarian Republican

    The latest evidence is Paul’s (R-Ky.) plan to launch a class action lawsuit against the government for the National Security Agency’s collection of phone records and monitoring of Internet data. “If we get 10 million Americans saying we don’t want our phone records looked at, then somebody will wake up and say things will change in Washington,” Paul argued during an appearance on “Fox News Sunday.”

    Paul’s seizing on the NSA issue comes less than three months after he made national headlines for his filibuster of the nomination of now-CIA Director John Brennan. And both issues have a narrative string connecting them: Paul as the most visible defender of civil liberties not only in the Senate, but in elected office right now.

    via Rand Paul and the rise of the libertarian Republican


  • Everything is Rigged, Vol. 9,713: This Time, It’s Currencies

    Given the LIBOR story, the Interest Rate Swap manipulation story, the Euro gas price manipulation story, the U.S. energy price manipulation story, and (by now) countless others of the “Everything is Rigged” variety, this screams out for immediate notice. Via Bloomberg:

    Traders at some of the world’s biggest banks manipulated benchmark foreign-exchange rates used to set the value of trillions of dollars of investments, according to five dealers with knowledge of the practice . . .

    Employees have been front-running client orders and rigging WM/Reuters rates by pushing through trades before and during the 60-second windows when the benchmarks are set, said the current and former traders, who requested anonymity because the practice is controversial. Dealers colluded with counterparts to boost chances of moving the rates, said two of the people, who worked in the industry for a total of more than 20 years.

    This time the rates allegedly being rigged are in the foreign-exchange or “FX” markets, meaning that if this story is true, it would almost certainly trump LIBOR for scale/horribleness.

    As one friend of mine who works on Wall Street put it, “It’s endless! This is the biggest market in the world.” Bloomberg suggested the story is just the tip of the iceberg…

    Full article: http://www.rollingst … -currencies-20130613


  • 3 Reasons the ‘Nothing to Hide’ Crowd Should Be Worried About Government Surveillance

    Responding to a popular reaction to news of the National Security Agency’s massive data collection program, blogger Daniel Sieradski started a Twitter feed called “Nothing to Hide.” He has retweeted hundreds of people who have declared in one form or another that they are not concerned that the federal government may spy on them. They say they have done nothing wrong, so they have nothing to hide. If it helps the government fight terrorists, go ahead, take their civil liberties away.

    In his blog, a frustrated Sieradski listed many of the abuses of power our federal government is known for; he is not happy with the “nothing to hide” crowd.

    There are many, many reasons to be concerned about the rise of the surveillance state, even if you have nothing to hide. Or rather, even if you think you have nothing to hide. For those confronted by such simplistic arguments, here are a three counterarguments that perhaps might get these people thinking about what they’re actually giving up.

    1. Every American Is Probably a Criminal, Really

    That Americans think they have nothing to hide in the first place is a sign of how little attention they’re paying to the behavior of our Department of Justice. Many Americans have run afoul of federal laws without even knowing it. Tim Carney noted at the Washington Examiner:

    Copy a song to your laptop from a friend’s Beyonce CD? You just violated the Digital Millennium Copyright Act. Did you buy some clothes in Delaware because they were tax free? You’re probably evading taxes. Did you give your 20-year-old nephew a glass of wine at dinner? Illegal in many states.

    Citizens that the federal government wants to indict, the federal government can indict if it monitors them closely enough. That’s why it’s so disturbing to learn that the federal government doesn’t need to obtain a warrant on us in order to get our emails and phone records.

    Attorney Harvey Silverglate even wrote a book about it, Three Felonies a Day: How the Feds Target the Innocent. The Department of Justice has been notably and egregiously using federal laws to destroy lives. Former Tribune employee Matthew Keys is facing federal charges and possibly prison time because he gave his old password to a member of Anonymous, who changed a headline at the website for the Los Angeles Times. The vagueness of the Computer Fraud and Abuse Act makes violating a website’s terms of service a possible felony. We’re not just referring to government websites. All websites. Given the digital focus of the PRISM program, everybody should be concerned about what could potentially happen should that data end up in the hands of federal prosecutors.

    2. The Federal Government Has Abused its Surveillance Powers Before

    While most Gen Xers were still very young and before any Millennials were born America went through similar controversies in the wake of the Vietnam War and the Watergate Scandal. In 1975, Senator Frank Church (D-Idaho) put together a committee (which would eventually be known as the Church Committee) to investigate abuses of the law by intelligence agencies. Abuses included spying on leftist activists, opening and reading private mail, and using the IRS as a weapon. Sound familiar? There’s a reason why Baby Boomers have started comparing Barack Obama to Richard Nixon. The value of doing so has been lost to the ages; everything politically awful that happens in America is compared to Tricky Dick.

    The defense that the current secret NSA/PRISM data collection plan can only target foreigners in foreign territory shouldn’t settle anything, even if it’s actually true, because that’s just a description of how the plan is currently being used, not how it might be used tomorrow or under the next presidential administration. And we have absolutely no way of knowing that the description of how the program operates is true anyway, because the oversight has been hidden from public view. We do know that a court ruling in 2011 determined that the U.S. government had engaged in unconstitutional behavior in its surveillance program, but the Department of Justice is trying to block Americans from seeing this court ruling and understanding what happened. We’re supposed to trust this oversight. We know they’ve broken the law once, but we don’t know what they did, what’s stopping it from happening again, what harm was caused, and whether there was any sort of

    3. Government Is Made of People, and Some People Are Creepy, Petty, Incompetent, or Dangerous

    While the federal government is arguing that all this massive metadata being collected by the National Security Agency is subject to significant oversight and not subject to abuse, it is at the same time trying to blame the IRS targeting political and conservative nonprofits for special questioning as the actions of rogue employees and poor management.

    You don’t have to be a privacy purist to be concerned about bad or dangerous people getting information about you. Some of them work for the government, and they may be interested in you for reasons that have nothing to do with politics. Even if you have nothing to hide.

    Full article: http://reason.com/ar … hing-to-hide-crowd/2