Re: Does the US Need an MI5?
Not really, no. The CIA is responsbile for human intel and operations and the NSA is responsible for signal intelligence. Until the Bush administration started ignoring the laws on the subject, they were required by law to limit their operations to overseas. The FBI handles domestic counter-terrorist investigations.
If we were going to do this, we would have done it when Homeland Security was created. But since the FBI won that turf war, we just have to hope they'll do a good job.
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