Then, instead of looking at the fundamentals of the securities themselves, they simply assumed that they could rely on the credit ratings the ratings agencies bestowed, even though those agencies' conflicts of interest were well-known.
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Related: Spy agencies fund climate research in hunt for weather weapon, scientist fears Like so many military experiments, these trials failed but cloud seeding became a reality in 1967/8 when the US's Operation Popeye increased rainfall by an estimated 30% over parts of Vietnam in an attempt to reduce the movement of soldiers and resources into South Vietnam.
The British peer said the UN Relief and Works Agency had only a finite amount of food and other essential supplies, adding: "We were concerned that over time supplies were running out," prompting the agency and other UN agencies to launch an appeal to get more resources into the area.
He was a former advertising agency "suit", an Oxford history graduate recruited in the 50s when London establishment ad agencies recruited those kinds of people.
Ian started his career as a founder of one of the first web agencies in the UK, Wax New Media.
As a result, aid agencies such as Unicef have forged links with foreign producers better able to produce these supplies at the scale, cost and quality required.
The prime minister's spokeswoman said: "The PM's view is clear that we have to keep talking and working with the agencies on what they need to keep us safe.
This is an area where the PM's overall approach is we should talk to the agencies about the resources and powers they need and work with them to make sure, as a government, we are putting in place all we need to keep us safe".
Amid a coalition impasse, Downing Street said that the prime minister would make the case to stand by the intelligence agencies.
In Britain, it looks set to begin a conversation which has been long overdue, addressing directly the question of what the surveillance agencies can and can't do.
