Occupy Banksters & Crony Capitalism & GREED

Edward Snowden: US government has been hacking Hong Kong and China for years
South China Morning Post | Lana Lam | 06/13/13

US whistle-blower Edward Snowden yesterday emerged from hiding in Hong Kong and revealed to the South China Morning Post that he will stay in the city to fight likely attempts by his government to have him extradited for leaking state secrets.

In an exclusive interview carried out from a secret location in the city, the former Central Intelligence Agency analyst also made explosive claims that the US government had been hacking into computers in Hong Kong and on the mainland for years. ... Read more

NSA: Senators Who Back NSA Spying Oppose Gun Background Checks For Infringing Rights
HP | Michael McAuliff | 06/12/13

Just months after many U.S. senators opposed tougher background checks for gun buyers on the grounds that they would tread on Americans' liberties, many of them are standing behind the far more intrusive intelligence-gathering programs of the National Security Agency.

Senators -- mainly Republicans -- argued during the debate after the Newtown, Conn., school massacre that instituting broader background checks would violate the Second Amendment, infringe on privacy, and be the first step toward taking away people's guns. ... Read more

NSA Director Says Programs Key to Stopping Attacks
WSJ | Siobhan Hughes | 06/12/13

WASHINGTON--National Security Agency Director Keith Alexander said that he would work to try to declassify secret court opinions that make possible the agency's collection of most Americans' phone records, while also defending the government's controversial surveillance programs as critical to stopping terrorist attacks.

"We need to bring as many facts as we can out to the American people," Mr. Alexander told the Senate Appropriations Committee. "We want to tell you what we're doing….but I don't want to jeopardize the security of our country or our allies." ... Read more

NSA surveillance played little role in foiling terror plots, experts say
TheGuardian | Ed Pilkington | 06/12/13

Lawyers and intelligence experts with direct knowledge of two intercepted terrorist plots that the Obama administration says confirm the value of the NSA's vast data-mining activities have questioned whether the surveillance sweeps played a significant role, if any, in foiling the attacks. ... Read more

Earlier Denials Put Intelligence Chief in Awkward Position
NYTimes | Scott Shane | 06/11/13

For years, intelligence officials have tried to debunk what they called a popular myth about the National Security Agency: that its electronic net routinely sweeps up information about millions of Americans. In speeches and Congressional testimony, they have suggested that the agency's immense power is focused exclusively on terrorists and other foreign targets, and that it does not invade Americans' privacy.

But since the disclosures last week showing that the agency does indeed routinely collect data on the phone calls of millions of Americans, Obama administration officials have struggled to explain what now appear to have been misleading past statements. Much of the attention has been focused on testimony by James R. Clapper Jr., the director of national intelligence, to the Senate in March that the N.S.A. was not gathering data on millions of Americans. ... Read more

Bond bubble threatens financial system, Bank of England director warns
TheGuardian | Jill Treanor | 06/12/13

Andy Haldane fears the bursting of 'the biggest bond bubble in history' after electronic money printing exercises by the Bank of England and the Federal Reserve in the US.

A key Bank of England policymaker has warned of the risks to global financial stability when "the biggest bond bubble in history" bursts.   In a wide-ranging testimony to MPs, Andy Haldane, Bank of England director of financial stability, admitted the central bank's new financial policy committee is taking too long to force banks to hold more capital and appeared to criticise the bank's culture under outgoing governor Sir Mervyn King.Haldane told the Treasury select committee that the bursting of the bond bubble -- created by central banks forcing down bond yields by pumping electronic money into the economy - was a risk "I feel acutely right now". ... Read more

RBS resignation of Stephen Hester causes debate to rage
TheGuardian | Jill Treanor | 06/12/13

City surprise at chief executive's exit as politicians are accused of getting 'sticky little paws' on bank's future

The debate about the future of Royal Bank of Scotland was raging on Wednesday night after the surprise resignation of the bailed out bank's chief executive Stephen Hester. His departure is intended to clear the way for what will be one of the biggest ever public sell-offs.

The business secretary, Vince Cable, who opposes a rapid sale of the taxpayer's 81% stake, said the bank needed to focus more lending to small businesses and supporting the economy. ... Read more