Inside the Data Mine

Inside the Data Mine
A Dig led by Onnesha Roychoudhuri
http://www.truthdig.com/dig/item/20070809_inside_the_data_mine/

On April 20, 2007, former Qwest telecommunications CEO Joseph Nacchio was found guilty on 19 of 42 counts of insider trading. “For anyone who has ever made a call in Qwest territory, the term ‘convicted felon Joe Nacchio’ has a nice ring to it,” U.S. prosecutor Troy Eid told the press. The mood was fairly universal. One securities lawyer pitched in: “The government has another notch in their belt. They’ve had a tremendous winning streak in these corporate crime cases.”

But it would have been more accurate to qualify the statement by saying that the government has had a tremendous winning streak in the corporate crime cases it chooses to pursue. We now know that the Securities and Exchange Commission has chosen not to pursue charges of insider trading in the case of a Wall Street executive named John J. Mack because of his “political clout.” And while former U.S. Attorney William Leone led the case against Qwest, he was one of the unfortunate attorneys on the Department of Justice’s “purge list,” replaced by none other than Bush-nominated Troy Eid, a former co-worker of Jack Abramoff at the firm Greenberg Traurig.

In the wake of the Enron scandal, Nacchio’s verdict could be seen as the continuing triumph of an efficient and unbiased judicial system—one working to protect the people’s interests against unbridled business tycoons. But the insidious environment of purges and selective prosecution based on cronyism necessitates a more critical view. To celebrate Nacchio’s verdict in such a simplistic light would miss a far more interesting story about what telecommunications success and failure signify in a post-September 11th world.

Delving into Joseph Nacchio and Qwest’s story reveals a company with close ties to the White House—ties that appear to have been temporarily severed when, according to Nacchio and his legal team at Qwest, the company refused to participate in the government’s data-mining program—making it the only big telecommunications company that didn’t take part. Nacchio claims that secret government contracts he was expecting were never delivered after his refusal to participate in the National Security Agency program, resulting in skewed profit claims.

While currently under new leadership, wooing back government contracts, and finally turning a profit, Qwest will have to struggle to maintain a competitive edge in an industry of telecommunications giants. These giants have received favorable treatment from the Department of Justice and the Federal Communications Commission. Parallel to this success have come news reports that these ever-merging entities—notably AT&T, BellSouth and Verizon—are participating in domestic data-mining programs.

In an amoebic dance, SBC, AT&T, Bell South, Cingular, MCI and Verizon have all coupled and re-coupled,
http://www.truthdig.com/dig/item/20070809_inside_the_data_mine/

is that 'amoebic dance' that enriches the Bush's Base. Look up 'hedge fund' and 'accredited investor' and you get the definintion of that base,

""The federal securities laws define the term accredited investor in Rule 501 of Regulation D as:

1. a bank, insurance company, registered investment company, business development company, or small business investment company;
2. an employee benefit plan, within the meaning of the Employee Retirement Income Security Act, if a bank, insurance company, or registered investment adviser makes the investment decisions, or if the plan has total assets in excess of $5 million;
3. a charitable organization, corporation, or partnership with assets exceeding $5 million;
4. a director, executive officer, or general partner of the company selling the securities;
5. a business in which all the equity owners are accredited investors;
6. a natural person who has individual net worth, or joint net worth with the person’s spouse, that exceeds $1 million at the time of the purchase;
7. a natural person with income exceeding $200,000 in each of the two most recent years or joint income with a spouse exceeding $300,000 for those years and a reasonable expectation of the same income level in the current year; or
8. a trust with assets in excess of $5 million, not formed to acquire the securities offered, whose purchases a sophisticated person makes."<1>""


http://en.wikipedia.org/wiki/Accredited_investor

Greed is bad. Don't let them tell you otherwise.

This rich class of powerful people (both 'natural' and corporate) get access to YOUR data and get to play with it however they see fit. Offshore now, as with Global Information Group in the Bahamas under former intel guy Ben H. Bell IIIrd and with ChoicePoint and the banks who've offshored much already to places like India for example, outside of US jurisdiction and law. The govt has sided with Sun Microsystem's chief when he said, "you don't have any anymore, get used to it".

Wipe their ass with the Constitution while their at it, huh ?