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News Flash: Clipper Bug?

Is this for real? Or did some future Nobel prize winner discover that PGP

        NEW YORK (AP) -- A computer scientist reportedly has discovered a
basic flaw in coding technology that the Clinton administration has
been promoting as a standard for electronic communications. Matthew
Blaze, a researcher at AT&T Bell Laboratories, told the New York
Times that his research had shown that someone with sufficient
computer skills can beat the government's technology by encoding
messages so that no one, not even the government, can crack them.
The administration has been urging private industry to adopt the
so-called ``Clipper chip'' as a standard encoding system.