The iBusiness Times: Major Technology businesses restore people's faith in them, and their right to privacy

Eight major technology business, Google, Apple, Facebook, Twitter, AOL, Microsoft, LinkedIn, and Yahoo, have formed a Union or an alliance, namely, The Reform Government Surveillance Group. In a letter addressed to the United States President and the Congress, the group has called for a tone down in global surveillance and breach of privacy, through the firms. Specifically, the letter written and signed by the alliance (in one part) reads:
"We understand that governments have a duty to protect their citizens. But this summer's revelations highlighted the urgent need to reform government surveillance practices worldwide." they claimed.
"The balance in many countries has tipped too far in favour of the state and away from the rights of the individual - rights that are enshrined in our Constitution" added the letter. I agree with this completely. Over the past few years, fingers have been raised at firms like this and various governments, for breach of privacy, damaging their reputation. Now, it has been brought to these firms attention, that it will only be best for them. As time went on, people were beginning to lose confidence, especially in websites such as AOL that have already fallen quite behind in the market.
I hope that the government acknowledge the letter, so that millions of individuals worldwide can reassure their faith in these firms.
Back to the business side. This type of behaviour, that benefits the public, will effect the Stock Market. Most of these stocks have started up on a high, as the buyers are members of the general public themselves.
Here is the letter, openly released to the public:

Dear Mr. President and Members of Congress,
We understand that governments have a duty to protect their citizens. But this summer’s revelations highlighted the urgent need to reform government surveillance practices worldwide. The balance in many countries has tipped too far in favor of the state and away from the rights of the individual — rights that are enshrined in our Constitution. This undermines the freedoms we all cherish. It’s time for a change. For our part, we are focused on keeping users’ data secure — deploying the latest encryption technology to prevent unauthorized surveillance on our networks and by pushing back on government requests to ensure that they are legal and reasonable in scope. We urge the US to take the lead and make reforms that ensure that government surveillance efforts are clearly restricted by law, proportionate to the risks, transparent and subject to independent oversight.
Sincerely,
AOL, Apple, Facebook, Google, LinkedIn, Microsoft, Twitter, Yahoo

To see the full statement, click here