MOsanthrope

Posted by Chris on May 17, 2006 at 12:10 pm.

Updated on May 17, 2006 at 1:04 pm.

Cynical? Who, me?:

In recent days, AT&T, Bell South and Verizon have all issued statements denying that they’ve handed over phone records to the NSA, as reported by USA today.

* * *

Ordinarily, a company that conceals their transactions and activities from the public would violate securities law. But an [sic] presidential memorandum signed by the President on May 5 allows the Director of National Intelligence, John Negroponte, to authorize a company to conceal activities related to national security. (See 15 U.S.C. 78m(b)(3)(A))

---

UPDATE: The President’s memo may be found here. Scroll down to the subheading “ADMINISTRATIVE ORDERS” in the Presidential Documents section. The .pdf version is linked below:
 

(Note that the memo was dated May 5, 2006 but published in the May 12, 2006 issue of the Federal Register).
 
What functions of the President under section 13(b)(3)(A) of the Securities Exchange Act of 1934 were assigned to the Director of National Intelligence?

(3)(A) With respect to matters concerning the national security of the United States, no duty or liability under paragraph (2) of this subsection shall be imposed upon any person acting in cooperation with the head of any Federal department or agency responsible for such matters if such act in cooperation with such head of a department or agency was done upon the specific, written directive of the head of such department or agency pursuant to Presidential authority to issue such directives.

Filed under: Politics, Business, U.S., Law