That said, Mr. Alexander is a scumbag of the first rank.
From Foreign Policy:
Why Was the NSA Chief Playing the Market?
At the same time that he was running the United States' biggest intelligence-gathering organization, former National Security Agency Director Keith Alexander owned and sold shares in commodities linked to China and Russia, two countries that the NSA was spying on heavily.Some of the headlines of stories we decided against posting:
At the time, Alexander was a three-star general whose financial portfolio otherwise consisted almost entirely of run-of-the-mill mutual funds and a handful of technology stocks. Why he was engaged in commodities trades, including trades in one market that experts describe as being run by an opaque "cartel" that can befuddle even experienced professionals, remains unclear. When contacted, Alexander had no comment about his financial transactions, which are documented in recently released financial disclosure forms that he was required to file while in government. The NSA also had no comment.
Alexander's stock trades were reviewed by a government ethics official who raised no red flags, and there are no indications the former spymaster did anything wrong. There are also no indications that the trades did much for Alexander's personal wealth. Disclosure documents show that he earned "no reportable income" from the sale of commodity company stocks, meaning either that it was less than a few hundred dollars or that possibly he lost money on the deals.
Still, the trades raise questions about whether Alexander's job gave him insights into corporations and markets that may have influenced his personal financial investments. The NSA, which Alexander ran for more than eight years, routinely spies on foreign governments and businesses, including in Russia and China, where the agency has attempted to gain insights into political decision-making, economic strategy, and the countries' plans for acquiring natural resources.
The financial disclosure documents, which were released to investigative journalist Jason Leopold and published this month by Vice News, reveal nothing explicitly about why Alexander sold the shares when he did. On Jan. 7, 2008, Alexander sold previously purchased shares in the Potash Corp. of Saskatchewan, a Canadian firm that mines potash, a mineral typically used in fertilizer. The potash market is largely controlled by companies in Canada, as well as in Belarus and Russia. And China was, and is, one of the biggest consumers of the substance, using it to expand the country's agricultural sector and produce higher crop yields.
"It's a market that's really odd, involving collusion, where companies essentially coordinate on prices and output," said Craig Pirrong, a finance professor and commodities expert at the University of Houston's Bauer College of Business. "Strange things happen in the potash market. It's a closed market. Whenever you have Russians and Chinese being big players, a lot of stuff goes on in the shadows."
On the same day he sold the potash company shares, Alexander also sold shares in the Aluminum Corp. of China Ltd., a state-owned company headquartered in Beijing and currently the world's second-largest producer of aluminum. U.S. government investigators have indicated that the company, known as Chinalco, has received insider information about its American competitors from computer hackers working for the Chinese military. That hacker group has been under NSA surveillance for years, and the Justice Department in May indicted five of its members.
Alexander may have sold his potash company shares too soon. The company's stock surged into the summer of that year, reaching a high in June 2008 of $76.70 per share, more than $30 higher than the price at which Alexander had sold his shares five months earlier....MORE
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And one we did post:
Should You Attend The FT Alphaville Conference at £199 per cap or the Vanity Fair Conference for $5,000?