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“Law-abiding Americans deserve to know that their government will not secretly tap their phones, read their medical records, access their library accounts or otherwise invade their personal lives, with no oversight or accountability. Law-abiding Americans also deserve to know that when law enforcement can show an impartial judge clear evidence of criminal activity or a threat to national security, swift and decisive action will be taken to protect the public. That is the balance we must achieve.”

“In a democracy it is ultimately for us, the citizens, to judge where to place the balance between security and privacy, safety and liberty. It's our lives and liberties that are threatened, not only by terrorism but also by massive depredations of our privacy in the name of counter-terrorism. If those companies from which governments actually take most of our intimate details want to show that they are still on the side of the angels, they had better join this struggle for transparency too.”

“Individual security bargains may be located by the process of security analysis practically at any time. They can be bought with good overall results at all periods except when the general market itself is clearly in a selling range for investors. They show up to best advantage during the years in which the market remains in a relatively narrow and neutral area.”