"The best cryptographers, unfortunately, are in NSA and GCHQ, and nobody would trust what they would produce so this idea is dead in the water."
The most depressing thing about this story is that the politicians don't seem to have noticed the immense stupidity of their request.
Point 1: as Mr Schneier points out, maths works the same way for everyone.
Point 2: as ZSn points out here, the best cryptographers *probably* work for the NSA and GCHQ and if *they* are the ones complaining then that probably means it can't be done by someone in Silicon Valley.
Point 3: If it *can* be done in Silicon Valley, why in seven names of fsck is that person able to do something that the government agencies cannot?
Even if their bizarre maths-of-the-day version of the universe were true, Silicon Valley *still* wouldn't be the place to look for a solution. How stupid do you have to be to be unable to see that?