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Subject: [ISN] Defense Dept. Program Taking Terror Bets
From: InfoSec News <isn () c4i ! org>
Date: 2003-07-29 8:14:09
[Download RAW message or body]
Forwarded from: William Knowles <wk@c4i.org>
http://www.thewbalchannel.com/news/2363276/detail.html
[This sounds exactly like the TradeSports Exchange where you can place
bets with your own money on current events like when Usama Bin Laden
or Saddam Hussein finally gets picked up by the Special Forces. Not to
mention the current Homeland Defense terrorism threat level, and
everything else. http://www.tradesports.com/refer.jsp?src=grm_168 - WK]
-=-
July 28, 2003
A new Department of Defense program allows traders to bet on the
likelihood of future terrorist attacks.
The department's "Defense Advanced Research Project Agency" designed
what it calls the "The Policy Analysis Market."
The program works much like the financial markets where traders buy
and sell "futures" based on the possibility of a specific event in the
Middle East, 11 News reported.
Some of the examples listed on the agency's Web site include the
assassination of Palestinian leader Yassar Arafat and a missile attack
by North Korea. Bidders would profit if the events for which they hold
futures occur.
Defense officials said the market-based system is highly accurate when
assessing such things as political and civil stability, economic
health and military disposition of Middle East countries.
Participants would only have to pick a username and password to
participate and the agency said it won't have access to their
identities or funds.
But critics said this allows terrorists who are planning an attack to
profit on the assault or even make false bets to mislead authorities.
Members of Congress said the market idea is not only wasteful, but
repugnant.
"I think this is unbelievably stupid. That is a gentle thing to say
about a program that is so devoid of value," Sen. Byron Dorgan,
D-North Dakota, said. "It combines the worst of all our values in my
judgment. It's a tragic waste of taxpayer money. It will be totally
offensive to almost everyone."
"[The] idea of a federal betting parlor on atrocities and terrorism is
ridicules and grotesque," Sen. Ron Wyden, D-Oregon, said. "The bizarre
plan we are describing today is a waste of taxpayer money and it needs
to stop immediately. The program's intent is clear: the federal
government is encouraging people to bet on and make money from
atrocities and terrorist attacks."
Registration for the site begins Friday and will be limited to the
first 1,000 traders. Actual trading will begin Sept. 1 and the
Department of Defense plans to open the site to 10,000 traders by Jan.
1, 2004.
*==============================================================*
"Communications without intelligence is noise; Intelligence
without communications is irrelevant." Gen Alfred. M. Gray, USMC
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