Marc reports:

In the [Obama administration's] view, a commission would expose secrets without any means of determining whether they're properly protected or not, and they've been warned that the nation's spy services would simply cease to function effectively if they're forced to surrender exacting details about their immediate past conduct. The administraiton further worries that the Commission would be carried out in the context of vengeance and would not focus the rage on lessons learned for the future. This, again, is the point of view senior administration officials; it may or may not be my own.

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