Security Considerations

The Securities and Exchange Commission is building a massive central database in order to facilitate regulators’ market surveillance, and they’re forcing all brokerages to sign contracts to connect their systems to this Consolidated Audit Trail.

Proponents say the CAT will help regulators make sense of complex US financial markets, by putting data from disparate markets in one place and pinning down the time of each trade to the millisecond. … When complete, it is expected to ingest more than 58 billion records a day to become the world’s largest repository of stock-trading data.

Brokers and the ACLU both object vehemently to the requirement. The ACLU says,

We are concerned that the CAT will pose significant risks to the privacy of millions of investors….

because

the project for plans to store the personal data, such as Social Security numbers and birth dates, of individuals behind stock trades.

Of course, this just provides a convenient site for the government to peruse, at whim, the personal data of any one or group of us. Government, though has no need of these data and no right of access to these data absent search warrants issued solely on

probable cause, supported by Oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.

But it’s more than that. Stipulate that explicitly personal data won’t be collected, after all, that only those stock trades and timing data would be collected.

It’s not enough.

It’s like these guys have never heard of OPSEC or COMSEC.

This is a move aimed solely at the personal convenience of bureaucrats, which makes it useless as well as dangerous.

Reduced NBA Viewership

The TV ratings of National Basketball Association games are down by 15% compared to last year.

Some folks ascribe this to fewer folks subscribing to television generally. Others blame it on geography:

Many of the league’s best teams are on the West Coast, meaning their games end after some viewers in the East have already gone to bed.

Yet others assign at least some of the blame to injuries, especially to marque players.

NBA Commissioner Adam Silver blames in on a “broken” pay-TV system.

All of those would seem to be factors in the public’s decreasing interest in the doings of the NBA.

I have to wonder, though, how much of the drop is due to dismay over the NBA’s despicable behavior toward the Houston Rockets’ GM tweeting in support of Hong Kong protestors and to contempt for the league’s disgracefully obsequious kowtowing, from Silver, through team management, on down to players on the floor, to the People’s Republic of China government.

Moves and Countermoves

The People’s Republic of China is inordinately proud of its only carrier, launched just a couple years ago, and Xi loves to sail it around, showing it off. This time, though, he sailed it.

through the Taiwan Strait. With presidential elections in Taiwan weeks away, officials there have criticized the maneuvers as an intimidation tactic.

Which, of course, it was.

The correct response to this would be for us to sail a carrier, together with a destroyer escort, through the strait. And maybe again, on election day.

For training purposes….

Harms in Public Spaces

The Brits are working out a new way to intervene in private lives and in private businesses, this time in an attempt to control “harms” done via (not by, mind you) “online platforms”—social media.

Under the [British] government’s proposal, a new regulator would have the power to require companies to protect users from a number of identified online harms—such as pornography, extremist content, and cyber bullying.

And

[T]he pair talked through the different terms that had been used to describe social media in a legal context, looking for the right analogy. They tried “platform,” “pipe” and “intermediary.” Nothing seemed to fit. Then “we thought of a ‘public space,'” says Ms Woods. “People do different things online. It was just like ‘how do we regulate spaces?'”

“Identified” online harms? We can’t even define the harms—such as pornography, extremist content, and cyber bullying.  Even Supreme Court Justice Potter Stewart ultimately walked back his foolish I know it when I see it nonsense, recognizing that such a nebulous “definition” had no place in law.

We have not—we cannot—define any of these harms, much less what constitutes a “public space;” there is no basis for Government regulating these things.

Nor have we succeeded in recognizing who actually is responsible for these harms, whether public or private.  See the disconnect, at a high level, between the Left’s Big Government is responsible on the one hand and the Right’s focus on individual responsibility on the other.

The British government may want to create a whole new, intrusive bureaucratic agency for controlling one more aspect of British citizens’ lives. When we wrote our Constitution and ratified it those two and a quarter centuries ago, we explicitly walked away from the British system of governance for a number of reasons; central among them being the illegitimacy of Government intrusions into private lives.

This is one more example.

Xi, Lam, and Hong Kong

Hong Kong Chief Executive Carrie Lam met in Beijing with People’s Republic of China President Xi Jinping and Premier Li Keqiang earlier this week.  Li said, in a press conference afterward,

The city’s government must continue to make efforts in stopping violence and ending chaos in accordance with the law, and restore order.

On this, I agree.  Lam must have her police stand down from provoking violence in the protests by Hong Kong’s citizens and then using that violence as pretext for shooting tear gas at the protesters, beating them, and shooting them with live ammunition.

Lam must also have her government address in a serious manner—accepting the bulk of them, if not all—the five demands of the protestors:

  • withdrawal the extradition bill [lately done; although nothing has been done to prevent its being reintroduced]
  • Lam to step down
  • inquiry into police brutality
  • release of those arrested
  • greater democratic freedom

To which I add a sixth, a responsibility of the PRC press as well as of Lam’s Hong Kong government and of Xi’s PRC government:

  • To stop characterizing the protesters’ movement as an independence movement

It’s nothing of the sort. The protestors have been at pains to emphasize that they explicitly do not desire independence from the PRC; they want only their rights restored under the one nation, two systems framework promised by the PRC government at the time of handover from Great Britain.

When Lam has her government act responsibly, there can be a just peace and prosperous economic activity in Hong Kong.

The initiative is entirely hers. And Xi’s.