In a secret meeting held last Sunday with Director of National Intelligence James Clapper and Secretary of the Treasury Jack Lew, as well as Senator John McCain, President Obama made a decision regarding the NSA that is sure to send shock waves around the world when it is announced. The timing of the announcement has not been disclosed.
President Obama has decided to “spin off” the NSA data collection division from the government in a giant IPO and stock giveaway to American citizens, leaving a truncated agency. Rather than remaining a division of the government, much of the NSA would be privatized similar to Freddie Mac and Fannie Mae, and would provide services to the government as well as to the public and companies around the world.
In the conversation, which also included Vice President Biden and Secretary of State John Kerry, the president is quoted as saying, “The NSA’s tremendous database and analysis abili
ties would better serve the public and business rather than just the government. It is in a unique position to provide mega- and metadata as well as pinpoint analyses from the treasure trove of information that it holds. This will reinvigorate industry throughout the world.”
The president proposed that each citizen would receive one share of the corporation—approximately 350 million shares—and an equal number would be put on the market, so the entire corporation would be held by fewer than 1 million shares. The secretary of treasury estimated at the meeting that each share would be worth approximately $350,000 to $500,000, placing the total value of the corporation at $200 billion to $300 billion, so the government would reap over $100 billion to $150 billion from the sale of the NSA.
We expect to have a more detailed report on this meeting and other information pertinent to this issue within the next 24 hours.