Defense Dept. Program Taking Terror Bets

[InfoSec News <isn () c4i org>]

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]

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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. 

 

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