Cornering the Market On Zero-Day Exploits

Nicola Hahn (1482985) writes Kim Zetter of Wired Magazine has recently covered Dan Greer's keynote speech at Black Hat USA. In his lengthy address Greer, representing the CIA's venture funding arm, suggested that one way that the United States government could improve cyber security would be to use its unparalleled budget to buy up all the underground's zero-day vulnerabilities.

While this would no doubt make zero-day vendors like VUPEN and middlemen like the Grugq very wealthy, is this strategy really a good idea? Can the public really trust the NSA to do the right thing with all those zero-day exploits? Furthermore, recall the financial meltdown of 2008 where the public paid the bill for Wall Street's greed. If the government pays for information on all these unpatched bugs would society simply be socializing the cost of hi-tech's sloppy engineering? Whose interests does this "corner-the-market" approach actually serve?