Information, Please

Have we forgotten their history?

Amid all the hoopla over tapping the German Prime Minister’s personal cell phone, some fundamental issues have been forgotten. Yes, many friendly governments spy on one another, and yes, the President’s national security duties are primary. We can’t just unilaterally disarm, and many nations are more jealous than offended by the NSA’s activities.

But who we spy on and how we gather that data matters. Angela Merkel grew up in East Germany, where one in every seven citizens was a Stasi informant. Nothing was inviolate. When Germany reunified, the Stasi tried to destroy so many files that their shredders broke down. They still ended up with over 16 thousand sacks of scraps.

So when Frau Merkel says that such surveillance represents a grave breach of trust, believe it. She’s not going to be mollified by an “everybody does it” excuse. If Washington wants Germany to be an enthusiastic partner, it had better get busy rebuilding that relationship.

Don’t debate John McCain on torture, and don’t tap a former East German’s phone. They may forgive you, but they won’t forget.

Douglas R. Tengdin, CFA

Chief Investment Officer

By | 2017-07-17T12:34:36+00:00 November 4th, 2013|Global Market Update|1 Comment

About the Author:

Mr. Tengdin is the Chief Investment Officer at Charter Trust Company and author of “The Global Market Update”. The audio version of each post can be heard on radio stations throughout New England every weekday. Mr. Tengdin graduated from Dartmouth College, Magna Cum Laude. He received his Master of Arts from Trinity Divinity School, Magna Cum Laude and received his Chartered Financial Analyst (CFA) designation in 1992. Mr. Tengdin has been managing investment portfolios for over 30 years, working for Bank of Boston, State Street Global Advisors, Citibank – Tunisia, and Banknorth Group. Throughout his career, Mr. Tengdin has emphasized helping clients manage their financial risks in difficult environments where they can profit from investing in diverse assets in diverse settings. - Leave a comment if you have any questions—I read them all! - And Follow me on Twitter @GlobalMarketUpd

One Comment

  1. David A. Stone November 4, 2013 at 5:20 pm - Reply

    Don’t spit into the wind. Don’t tug on Superman’s cape.

    The NSA practices we are hearing about are just the tip of the iceberg. Do you keep you camera on your PC covered? A friend of mine – former NSA employee – does. Get a post-it note.

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