New Mexico senator calls for head of agency to resign 

29 July 2003
07:54 pm
Associated Press Newswires 

Sen. Jeff Bingaman is calling for the resignation of the head of a Pentagon 
agency that planned to set up a futures market that would have allowed 
traders to profit from accurate predictions on terrorism, assassinations and 
other events in the Middle East. 

Bingaman, D-N.M., said Tuesday that Adm. John Poindexter should step down 
because under his leadership of the Defense Advanced Research Agency, or 
DARPA, the agency had "developed a trading market in terrorism." 

"This is one of the most harebrained ideas I've ever heard," Bingaman said 
in a statement issued by his office. "Terrorism is humanity at its worst. 
Under no circumstances should it be treated as an opportunity for investors 
to make their fortune." 

Sens. Byron Dorgan, D-N.D., and Ron Wyden, D-Ore., touched off the furor 
Monday by disclosing details of the Policy Analysis Market, a project that 
seemed so bizarre some lawmakers said they thought it was a hoax. 

Under fire from all sides, the Pentagon on Tuesday dropped plans for the 
futures market. 

Republicans said they knew nothing about the program and would never have 
approved it. Democrats demanded details of any related Pentagon programs, an 
apology from the Bush administration and the firing of those responsible for 
the market. 

Bingaman said he was glad the Pentagon had canceled the program. 

"But I have no confidence in Admiral Poindexter," Bingaman said. "He has an 
unimpressive track record at DARPA and he should resign."