Loose lips.(AT WAR)(antiterrorism measures of the Bush administration )

EVERY passing week, it becomes more apparent that disgruntled leftists in the intelligence community and anti-war crusaders in the mainstream media, annealed in their disdain for the Bush administration, are undermining our ability to win the War on Terror. Their latest blow to the war effort is the exposure, principally by the New York Times, of the Treasury Department's top-secret program to monitor terror funding.

President Bush, who has said that the exposure "does great harm to the United States of America," must demand that the New York Times pay a price for its costly, arrogant defiance. The administration should withdraw the newspaper's White House press credentials because this privilege has been so egregiously abused, and an aggressive investigation should be undertaken to identify and prosecute, at a minimum, the government officials who have leaked national-defense information.

The Terrorist Finance Tracking Program (TFTP) was initiated soon after the 9/11 attacks. It ingeniously focuses on the hub of interlocking systems that facilitate global money transfers. The steward of that hub, centered in Brussels, is the Society of Worldwide Interbank Financial Telecommunication, or "SWIFT." SWIFT is an organization of the world's financial giants, including the national banks of Belgium, England, and Japan, the European Central Bank, and the U.S. Federal Reserve. SWIFT, however, is not a bank. It's a clearinghouse that manages message traffic pursuant to international transfers of funds.

Intelligence about those communications implicates no legally recognized privacy interests. To begin with, they are predominantly foreign, and international. To the extent the U.S. Constitution might be thought to apply, the Supreme Court held nearly 30 years ago that records in the hands of third parties--including financial records maintained by banks--are not private, and thus not protected by the Fourth Amendment. Moreover, to the extent Congress later supplemented privacy protections by statute, those laws regulated disclosures by financial institutions. SWIFT is not a financial institution.

Despite this legal daylight, the Bush administration has gone out of its way to defer to privacy concerns. Assuming that American law applied, it obtained SWIFT information by administrative subpoena. It carefully narrowed its scrutiny to those transacting with suspected terrorists. It concurred with its international partners that the resulting intelligence should be used only for counterterrorism and security ...