Obama to Propose NSA Reforms on Friday

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Jan. 15 (Bloomberg) –- Bloomberg’s Peter Cook discusses the upcoming speech by President Obama on the NSA’s surveillance programs and how companies can bolster their data security. He speaks with Erik Schatzker and Stephanie Ruhle on Bloomberg Television's "Market Makers." (Source: Bloomberg)

Phil mattingly was telling us a bit about what the president was going to be saying or at least the move we anticipate the president will be making.

How difficult is it going to be foreign to satisfy his critics?

It's going to be hard for the president to satisfy everyone.

He's hearing it both from liberals and conservatives on capitol hill, as far as what should happen with those nsa surveillance programs, and he's hearing it from the business community as well.

We had a tech ceos coming last month to the white house telling the white house their businesses are being hurt, particularly overseas, by the disclosures of edward snowden and the suggestion that they are in cahoots with the federal government.

They want some clear messages on friday that day are cooperating when they are forced to but they are not crossing that line.

It's important for the business community to get reassurance from around the world and in the u.s. that these companies are doing their civic obligations, but they are not going be on that.

How much harm has edward snowden and the surveillance stories done to these companies?

It is hard to gauge all stop there have been estimates that the companies in europe, maybe as much as $35 billion in business in terms of the cloud business overseas could be affected because you have those foreign competitors saying if you do business with us, we are not going to play ball.

If you do business with one of those american companies, you cannot be sure your information is secure.

Let's talk about what the companies are doing in the meantime.

No matter what the president says, trying to tap into their information, the nsa keeps saying that doesn't happen but many people believe it does.

They have taken it above themselves and they talk publicly about boosting encryption so they are more secure.

This has been an effort by these companies to show they are bolstering their own security and proving to their customers that their data is secure.

At the same time, they are pushing the federal government to provide even more transparency about the obligations.

They are limited by what they can say and they have made the case that if they are allowed to turnover that information, their customers would be reassured that it's isolated and not as widespread as some people have been led to believe.

When are we going to hear from the president?

On friday.

We have had some detail start to leak out.

Perhaps the area of greatest interest right now both in the business community and on capitol hill is what's going to happen to the bulk collection of phone records?

Will the president and that responsibility over to carriers to maintain that data and then have the government get a court order or will he maintain it at the nsa or will he do away with

This text has been automatically generated. It may not be 100% accurate.


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