The Great Debate UK
from Nicholas Wapshott:
Whatever high crimes and misdemeanors the National Security Agency leaker Edward Snowden may or may not have perpetrated, he has at least in one regard done us all a favor. He has reminded us that we are all victims of unwarranted and inexcusable invasions of privacy by companies who collect our data as they do business with us.
Some, like Google and Facebook, pose primarily as software companies when their main revenue source, and their main business, is to mine data and sell advertisers access to customers. We knew this already, of course, though it seems many of us would prefer to forget the true nature of the technology firms that have boomed in the last decade. Seduced by their dazzling baubles, we have bought in to Big Brother without truly understanding the true price we are paying and will continue to pay for access to their brave new world.
We may take pity on the idiot schoolboy who uses expletives on Twitter or posts a picture of himself holding a joint at a party only to discover when he looks for a job that a trawl by an HR department has made him unemployable. But even smart people -- like the New York mayoral hopeful Anthony Weiner, who sent lewd pictures to strangers -- can remember too late that in this wired world we are all being recorded all the time. Yet there is little legal protection from abuse by the companies who collate our personal data and store it for eternity.
One likely outcome of Snowden’s leak will be that the federal government has to justify its intrusions and maybe even show a prima facie case against an individual or groups before it gathers their data. There is no such move to ensure that pernicious data mining for commercial or private purposes will be similarly controlled. Primitive tribesmen, on seeing a camera for the first time, often balked at having their picture taken for fear it may steal their souls. Using the Internet is the same, except we know for certain that the price of going online is to lose all shred of confidentiality.
from Jack Shafer:
Edward Snowden's expansive disclosures to the Guardian and the Washington Post about various National Security Agency (NSA) surveillance programs have only two corollaries in contemporary history—the classified cache Bradley Manning allegedly released to WikiLeaks a few years ago and Daniel Ellsberg's dissemination of the voluminous Pentagon Papers to the New York Times and other newspapers in 1971.
Leakers like Snowden, Manning and Ellsberg don't merely risk being called narcissists, traitors or mental cases for having liberated state secrets for public scrutiny. They absolutely guarantee it. In the last two days, the New York Times's David Brooks, Politico's Roger Simon, the Washington Post's Richard Cohen and others have vilified Snowden for revealing the government's aggressive spying on its own citizens, calling him self-indulgent, a loser and a narcissist.
By Matt Scuffham, UK Banking Correspondent.
The government should hand most of its shares in Royal Bank of Scotland and Lloyds Banking Group to the public, an influential political think tank says, in what would be the country’s biggest privatisation.
The proposal would enable 48 million taxpayers to apply for shares at no initial cost and with no risk attached, the think tank said. A ‘floor price’ would be set and taxpayers would make a profit on any rise in the shares above that level.
–Dirk Jan van den Berg is President of Delft University of Technology, and was formerly the Dutch Ambassador to China and the Permanent Representative to the United Nations in New York. The opinions expressed are his own.–
Despite much media attention on disagreements, ranging from Taiwan to alleged cyber-attacks, as Chinese President Xi Jinping and U.S. President Barack Obama prepare for their first major summit meeting in California, there is a relatively new and growing basis for warmer ties: scientific and technological collaboration.
from The Great Debate:
As Chinese President Xi Jinping prepares for his landmark summit with President Barack Obama in California Friday and Saturday, the critical mission of improving China’s image in the world could well be uppermost in his mind.
from The Great Debate:
The tragedy at the Rana Plaza clothing factory was a sober reminder that Bangladeshi garment workers still lack basic rights and protections. My mother was a seamstress. She worked in the textile factories of northern New Jersey. I saw how hard and tiring her work was. But it was never lethal. And it shouldn’t be.
–Sam Hill is UK Fixed Income Strategist at RBC Capital Markets. The opinions expressed are his own.–
The return of RBS and Lloyds to the private sector is moving up the agenda but as the UK government prepares to set out the strategy for privatisation, the spotlight will, once again, fall on the gilt market and the public finances.
from The Great Debate:
Army Private First Class Bradley Manning in handcuffs for his motion hearing in Fort Meade in Maryland June 6, 2012. REUTERS/Jose Luis Magana
The most significant dispute over leaks this week is not in Washington, where Attorney General Eric Holder is under fire for the searches of journalists' files. It's 40 miles north in Fort Meade, Maryland, where the trial of Army Private First Class Bradley Manning begins Monday.
–Kathleen Brooks is research director at forex.com. The opinions expressed are her own.–
The tax affairs of Apple and Google have brought attention onto Ireland for all the wrong reasons of late. Ireland’s reputation has undeniably been dragged through the mud as the corporate tax affairs of some of the world’s largest companies come under scrutiny in Westminster and Capitol Hill.
from David Rohde:
In Moscow, they are “non-Soviet Russians.” In New Delhi, they are a “political Goliath” that may soon awake. In Beijing and São Paolo, they are lawyers and other professionals who complain about glacial government bureaucracies and endemic graft.