Why the NYT Went with the Story

"To us, the Swift story looks like part of an alarming pattern. Ever since Sept. 11, the Bush administration has taken the necessity of heightened vigilance against terrorism and turned it into a rationale for an extraordinarily powerful executive branch, exempt from the normal checks and balances of our system of government. It has created powerful new tools of surveillance and refused, almost as a matter of principle, to use normal procedures that would acknowledge that either Congress or the courts have an oversight role. The Swift program, like the wiretapping program, has been under way for years with no restrictions except those that the executive branch chooses to impose on itself - or, in the case of Swift, that the banks themselves are able to demand. This seems to us very much the sort of thing the other branches of government, and the public, should be nervously aware of."

Public docs and information on US Government monitoring international financial transactions is nothing new. "A search of public records -- government documents posted on the Internet, congressional testimony, guidelines for bank examiners, and even an executive order President Bush signed in September 2001 -- describe how US authorities have openly sought new tools to track terrorist financing since 2001. That includes getting access to information about terrorist-linked wire transfers and other transactions, including those that travel through SWIFT. 'There have been public references to SWIFT before,' said Roger Cressey, a senior White House counterterrorism official until 2003. 'The White House is overreaching when they say [The New York Times committed] a crime against the war on terror. It has been in the public domain before.'"