Unemployment rate has dropped to 7. 3 , partially because fewer people are looking for work. Smithfield meat exan company has been sold to a chinese company. Analysts are expecting the 4. 7 billion sale to go through. Those are the headlines at this power. America tonight is next. You can always check us out 24 hours a day ot aljazeera. Com. American spy agencies are furious over new leaks about how they gather intelligence. We now know the nsa got around encryption intended to protect emails and Financial Transactions many on websites you use every day. But consider this after weeks of leaks from Edward Snowden have we reached a Tipping Point to direct damage to our financial security. Are we in the point of repeating history . Another money melt down . Plus the lone ranger, was among box office duds over the past few months but was it a summer of box office duds. Nothing separating you from a thousand foot fall but a steel beam, the documentary sky dancer takes us inside the world of ironworkers and native americans. Im antonio mora. Welcome to consider this. The nsa has found a way to crack through walls intended to keep information private. Reports on those leaked documents in the new york time and propublica, shows how the nsa can expose a vast amount of information even encrypted ones. Letting the rest of the world know what our spy agencies are up to. Last month president obama was forced to address the endless trail of surveillance leaks. We can and must be more transparent so ive directed the Intelligence Community to make public as much information about these programs as possible. But this transparency courtesy of mr. Snowden is not likely what the president was referring to. And the government asked the News Agencies not to publish publish these leaks. Propublica, saying it might prompt foreign targets oswitch to new forms of encryption or communications that would be harder to collect or read. Both News Organization he said they removed some specific facts, but decided to publish because of the value of the public debate about government actions that they say weakened the most powerful tools for protecting the privacy of americans and others. But how much information is too much . Joining me now to talk about the latest revelations from former nsa analyst Edward Snowden are james larson a reporter for propublica, and james barrett, britains equivalent of the cia. And Matthew Green a cryptography researcher from Johns Hopkins university. I thank you gentlemen for joining us today. Fascinating story jeff looking through these documents. The laterrest dump of documents from Edward Snowden is again enormous. What is the most striking piece of information you want to cover . Well, i think the fact that the nsa has waged a decade long war against the encryption we use every day oprotect our communications. In the 90s we had this sort of idea proposed as a Public Program called the clipper chip where they would hold one encryption key to unlock communications and another key would be to protect the communications to the people you were communicating with. But in this case documents show they have been waging a secret campaign to undermine encryption by inserting back towards influencing standards and looking for Software Vulnerabilities that are not necessarily known to the public. But what in the end is the big deal . They are not supposed to look at any American Communications unless they have a warrant. Sure. Its strange how they define look at. But the point that i would bring is that we found a document that says they want to do opportunistic decryption. They want to decrypt anything they can and assess intelligence value after the fact. That could include American Communications, although we dont really know that. Now richard the nsa is business. From the begin is really to break codes, to make sure they can find out information about peoples communications. Should this information have gotten out to the public . Well i think theres all sorts of arguments for a public debate about things about what the nsa should and shouldnt do. Jeff referred to the one in the 1990s thats been a common theam about the discourse of intelligence collection by the nsa for many decades. But here the problem for nsa is that the whole business of decryption you know of being able to break peoples codes is a sort of cat and mouse game. Youre always playing catchup because they will produce a better system. Theyll figure how to break it. So on so forth. The fact that this is now being revealed that so many encryption systems have been broken by nsa whether by back doors or crunching the numbers as it were clearly makes the enemy much more alert and probably inclined to change their cycles. It could hurt homeland security. I would have thought. Matthew you were a cripping to reafer cripcrippin crip cripping t crip cryptographer. Youre not breaking the mathematical crypto, they are making Security Systems less secure in the process of trying to spy and collect this information. And these are in many cases Security Systems used by americans and american companies. So i think thats a pretty big concern. But how does it really end up hurting us though . I guess thats my question in the end. Is how does it hurt americans if theyre not using it to get into our you know our Financial Transactions and our emails . So if we could be sure that the only people who could crack this encryption were the nsa and nobody else could do it, you know there would still be some public debate. But it wouldnt be quite so worrying. The problem is is your concern by creating those back doors that other people can get through back exactly. It is hard to build a back door that only you can use. Other people in the world have capability too and we dont know whats going ohappen. And google has worked very quickly to try to encrypt data in facilities around the world because they dont want to have the nsa to get into this. Do you see this as a backlash jeff . I think policy matthew and his crippin cryptographer friends. Why they published the story, its certainly true that some number of bad actors possibly possibly would be terrorists, means they assume to be safe through Law Enforcement or Intelligence Agency some of these bad actors i got to stop you because this is actually a statement, this is a state o statement thae quoted in our story down at the bottom. Im sorry. Im sorry i had this as something it was part of well one of the explanation that you did make you compared it to world war ii and the breaking of the codes of the japanese. And the Chicago Tribune published it out there, that was one of the things that you said look back at history that that was probably not appropriate but that that was apples and oranges but this wasnt. How can you tell our enemies that we can decipher their information but break their codes . The fact of the matter is that this Encryption Technology is in use by everybody, right . Theres no alternate ssl that you can use in your browser, theres no browser plugin where you can sort of switch to a different Encryption Technology. This is a technology that you use every day for your communications, right . So would be terrorists cannot use a different ssl. We talked about ssl and vpns that they were able to crack and put back doors in. Its not that those encryption sold are only sold to foreign countries. Theyre also sold in the United States. Looking at whats happened in the last several weeks, that ended the closing of all these Diplomatic Missions throughout the middle east and interceptions communications with respect to the Syrian Chemical Weapons attack, do you think that Something Like this could hurt the ability of the United States to be able to intercept those kinds of communications in the future . The answer is yes i do think it could hurt the United States. But theres a point of principle here. The nsa and the other intelligence agencies classify things according to the sensitivity, according to the importance that they you know ascribe to it for national security. So sure. The agencies sometimes overclassify things. But if its top crest cod top secret code word, you believe it to be top secret. Who owns those secrets . The government owns those secrets. For the better good al qaeda is plotting a major attack or that syria has deployed the Syrian Regime has deployed some chemical weapons or something, thats fine, they own that information and they decide to reveal it. Of course there is discourse whether its going to hample the capabilities marm the capability of the nsa or otherwise. I dont have the republic article i was mistaken. It was it was the republica explanation of what happened. Im sorry. Why dont we go back to it and finish it off so you hear it. It said that its certainly true that some number of bad actors possibly including would be terrorists, Law Enforcement or intelligence agencies. Some of these bad actors may now change their behavior in response to our story. So again as to what richard was saying, doesnt that worry you that that door is being opened . Sure. And you know, in the in the newsroom yesterday, in the New York Times newsroom yesterday, we spent many hours in over the course of reporting this we spent many hours debating exactly this point, right . Are we opening up too much information or are we informing the public about ways in which the nsa is actively, you know, sort of surreptitiously harming you know weakening American Communications. Of course where the balance is and where you draw the line. I wanted to look at something matthew. The director of the national being, activity, anything that yesterdays disclosures to the add to the ongoing public debate is outwayed by the road map they give to our adversaries about the specific means we are taking to intercept mayor communications. Richard and jeff id like you to have a shot at it. I wish i had a good answer. Right now you know it seems like theres a lot of information in these leaks but as a cryptographer trying to find out how to unlock these i dont know how to start. How do i communicate securely today i dont know what the answer is but certainly i do know that there you know things need to be rebuilt from scratch. Lets talk a little more about other snowden leaks. The Washington Post recently published a story about a lot of details about a black budget, 52. 6 billion surveillance program, cutting edge technologies, agency recruiting Ongoing Operations including information on sensors monitoring syria and north korea, very specific, richard is this way too much to be giving out to the public do we need to know the specifics in because that enemies can figure out what were doing with our money . Actually i dont think thats so bad to give out the budget head lines. One of the interestin interestii saw from that report that jeff did was that out of that 52. 6 billion onethird was being spent on counterterrorism. And i think thats an interesting public debate there as to whether we circulate really be spending 27. 7 billion on counterterrorism. I think its just the line item detail thats more the issue rather than the money. I mean you could revealing that the money is being spent is one thing. Another thing is actually giving all that information how its being spent. Oh absolutely, then if you go to the line item detail i think thats damaging but the overall amount of money that the United States is spending on this amount of security i think is a very valuable one to have. You layer these stories about High School Hackers getting into all sorts of databases and breaking into companies, syrian group that just recently shut down the New York Times for a day, dont we all kind of expect that there are going to be people who are going obe able to get into our stuff . I mean right now, yeah. Thats the problem is that we already know that the systems we have are vulnerable. The problem is we dont need anyone else making them worse and thats whats happening here. You think the nsa is really hurting matters . I think that opening up new vulnerabilities the is the worst possible thing you could do and undermining trust in standard agencies which is another thing that came out in these leaks is another big concern. Matthew jeff richard, i appreciate you coming here discussing this important topic serge a important topic all summer long. Are we in danger of another melt down and what do you think . Our being social media producer hermella were nearing the five Year Anniversary of the Investment Bank collapse that kicked off the Great Recession which destroyed trillions of dollars in assets and threw millions out of work. Lehman brothers petitioned the courts for bankruptcy on september 15th of 2008, it is still the biggest bankruptcy in u. S. History. The august job numbers out friday are the largest indicators to show how far america has to go before the crisis is actually over. True, unemployment ticked down a 10th of a point to 7. 3 but that is because the Labor Participation rate which charts the number of people either working or look for work slid to 63. 2 . That is its lowest level since 1978. For more on the lehman anniversary and the danger of another wall street collapse im joined by Dennis Kelleher executive. For wall street watch dogs. Wallace gorman, told bloomberg news, and i quote, the way these firms are managed, the amount of liquidity they have, the change in business mix its dramatic. He thinks no chance. What do you think . Well, the only thing thats really close to zero is the likelihood of a ceo of a wall street bank is accurate you know these are the same people, the wallets too big to fail too dwaing dangerous to fail banks, we dont need regulation. Market knows best we have the best Risk Management program in the world, in history. And we also are by the way the best management in history. And what did they do . In about seven years they crashed the Global Financial system and almost caused a second Great Depression. And now these mouth pieces that only exist because of the federal government and u. S. Taxpayers bailed them out, theyre now saying ho the chance of another crisis its impossible. Trust us. We got this under control. Well weve already seen and experienced the consequences of this type of arrogance and hubris, before. And the American People frankly cant afford it again. And the reality is that the numbers can be really staggering when you look at them. Right now the u. S. National debt is closing in on 17 trillion while the civil largest banks have a collective debt that is more than half that number, 8. 7 trillion. Are those banks still after everything thats happened when you look at those numbers too big to fail . If one of them ran into trouble like h lehman, what would it take . We are talking about a handful of less than 20 of the biggest banks largely centered on wall street that are so big, complex and interconnected that if they fail, they would cause the failure of the United StatesFinancial System, and the economy. Those banks actually have like a damoclese sword, over the American People who is depending on their Risk Management and then behaving themselves and them not being reckless like they have before. They have been capitalized and Congress Passed the dodd frank bill, when you talk about derivatives, you know theyre trying to to protect against those big bets that caused all the problems. Is the regulation thats in place now not enough . Well, its important for people to know what while the law, financial law was passed a little over three years ago, its largely not implemented yet. Thats because wall street is on a war against financial regulation. They have purchased virtually every lawyer, lobbyist, pr spinner trade front group as they can with their unlimited resources and they have frustrated the implementation of effective financial reform. There have been some very good moves by some of the agencies, the fdic has done a terrific job, the ctic should be singled out for doing a great job. Fed has a lot way to go treasury has a long way to go. Things are better theres no question theres Better Regulation in place right now but if you look at the implementation of the law as a baseball game were probably own in the fifth inning and it will be a while before new regulations are in place are effective and more importantly whether they are going to be effectively enforced. Lets look add a little bit of history. Back in the 1980s congress and the white house started lifting regulations that have been in place since the Great Depression and that led to a major spurt in growth and unemployment. Why should we go abecome to more intense reg