The Most Revolutionary Act

Diverse Ramblings of an American Refugee

Dr Stuart Jeanne Bramhall

Dr Stuart Jeanne Bramhall
Location
New Plymouth, New Zealand
Birthday
December 02
Bio
Retired psychiatrist, activist and author of 2 young adult novels - Battle for Tomorrow and A Rebel Comes of Age - and a free ebook 21st Century Revolution. My 2010 memoir The Most Revolutionary Act: Memoir of an American Refugee describes the circumstances that led me to leave the US in 2002. More information about my books (and me) at www.stuartjeannebramhall.com

MY RECENT POSTS

OCTOBER 8, 2013 9:30PM

The Phone Company That Said No to NSA

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nacchio-10-22

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Former US West CEO Released from Prison

Former US West CEO Joseph Nacchio was released from prison last week after completing a four year insider trading sentence. He still claims the NSA framed him on the insider trading charges – after he refused to participate in their illegal phone surveillance program in 2001. US West was the only major telecommunication program that refused to spy on its customers. According to the Wall Street Journal, Nacchio feels vindicated by Edward Snowden’s recent revelations about NSA spying on Americans’ phone and email communications.

Nacchio was convicted of selling US West stock based on inside information about the company’s deteriorating financial health. He denies this, claiming he believed US West’s lucrative contracts with the federal government would continue. Instead his refusal to cooperate with the NSA resulted in the wholesale cancellation of  government contracts.

Nacchio had evidence supporting this claim. However the judge ruled it was classified and prevented his defense team from presenting it. The redacted NSA files were only made public after the former CEO was convicted and sentenced. However Harper’s and others have always supported Nacchio’s contention that he was prosecuted in retaliation for saying “no” to the NSA.

Whether or not Vlaccio is guilty of insider trading (all the legal arguments are summarized at Race to the Bottom), the most illuminating information in the redacted files is that the NSA was pressuring US West to spy on customers in February 2001. This was a good seven months before the 9-11 attacks, the supposed justification for curtailing Americans’ civil liberties.

 Image credit: Indict Dick Cheney

Originally published at Veterans Today

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Comments

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It gets scarier. It ordinarily is VERY difficult to prove insider trading by a CEO in his own company. It normally constitutes the bulk of his assets, and he could be shoving shares around for many different reasons.
maybe nacchio should launch a new lawsuit if he has any money left.
the courts have ruled in other cases that if there is no evidence of the surveillance state doing the surveiling, there can be no trial.
yeah insider trading is a very funky charge in many ways, it relates to intent and information flow, something that is radically shifting in the info age world. it does come close to prosecuting thoughtcrimes in some cases.... reminds me of how they routinely bounce women visitors on tourist visas to the country when immigration agents find out they have a boyfriend. "illegal intent"....
Is there nothing too low for government agencies to do to those whom they see as impeding their illegal activities in any way?

R
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How deep is the rabbit hole go?
My best guess is that they found a way to do it anyway. At least when it comes to anything that goes through the satellites system it would be easy; that is done in cooperation with NASA. The intimidation of Nacchio seems a little too blatant but it isn't unprecedented.