Maybe what these emails actually reveal is how a Texas-based corporate research firm can get a little carried away in marketing itself as a for-hire CIA and end up fooling some over-eager hackers into believing it's true.

The group's reputation among foreign policy writers, analysts, and practitioners is poor; they are considered a punchline more often than a source of valuable information or insight. As a former recipient of their "INTEL REPORTS" (I assume someone at Stratfor signed me up for a trial subscription, which appeared in my inbox unsolicited), what I found was typically some combination of publicly available information and bland "analysis" that had already appeared in the previous day's New York Times. A friend who works in intelligence once joked that Stratfor is just The Economist a week later and several hundred times more expensive. As of 2001, a Stratfor subscription could cost up to $40,000 per year.

It's true that Stratfor employs on-the-ground researchers. They are not spies. On today's Wikileaks release, one Middle East-based NGO worker noted on Twitter that when she met Stratfor's man in Cairo, he spoke no Arabic, had never been to Egypt before, and had to ask her for directions to Tahrir Square. Stratfor also sometimes pays "sources" for information. Wikileaks calls this "secret cash bribes," hints that this might violate the Foreign Corrupt Practices Act, and demands "political oversight."

For comparison's sake, The Atlantic often sends our agents into such dangerous locales as Iran or Syria. We call these men and women "reporters." Much like Statfor's agents, they collect intelligence, some of it secret, and then relay it back to us so that we may pass it on to our clients, whom we call "subscribers." Also like Stratfor, The Atlantic sometimes issues "secret cash bribes" to on-the-ground sources, whom we call "freelance writers." We also prefer to keep their cash bribes ("writer's fees") secret, and sometimes these sources are even anonymous.

So why do Wikileaks and their hacker source Anonymous seem to consider Stratfor, which appears to do little more than combine banal corporate research with media-style freelance researcher arrangements, to be a cross between CIA and Illuminati? The answer is probably a combination of naivete and desperation. Wikileaks chief Julian Assange, after all, felt comfortable taking credit for the Egyptian revolution; how good can his understanding of world events, and the actors shaping them, really be? Anonymous, which tried and failed to hack the Vatican's websites, doesn't appear to have much of an ideology beyond mischief-making. Wikileaks has been declining rapidly since first releasing Bradley Manning's trove of U.S. diplomatic cables; their finances are shrinking, their organization disintegrating (due in part to what former employees describe as Assange's poor leadership), and their credibility with his past media partners is mostly gone.