<<< waits for the "if you've nothing to hide you've nothing to fear" crowd
Why wait? We have heard it plenty. How about wait for something like why that sentiment is not correct? Nothing I do online is illegal so why do I care that they are wasting their time reading my email, facebook, etc. Nobody has every given a legitimate response without resorting to slippery slope logic.
I do not/have not conducted illegal activity online and I while I have nothing to fear, I have plenty to be outraged about. Its called a reasonable expectation of privacy and we are all losing more and more of it. Maybe you do not care that your personal affairs are becoming less and less 'personal'. For me, this latest revelation is just another way to remove my ability to NOT be seen/monitored unless I choose to be. Do I fear the NSA is clearing out my bank account, of course not. What I do consider troublesome however is if there is some other guy like Snowden that isn't as honest (wow, that was hard to actually say since I'm not sure if I'd rather him go to jail or give him a hero's parade) that now has the ability to pick and choose to see whatever they want and the money involved in selling identities can be a big motivator to become dishonest. I'm not saying this has happened, just that it can.
I shred all my documents so that no one can easily get them - and I mean anyone. Now we find out there are plenty of people whose intentions we assume are just have access to that data, encrypted or otherwise and that make me uncomfortable.
Bottom line, if I came up with an algorithm to to crack 256 bit AES encryption and used that to break your secure communications without your permission (or even knowledge of), you'd want me arrested. Not because you are doing anything wrong but because I did something wrong. That is what the NSA is doing here. Breaking my encrypted secure communications without my consent or a warrant is just plain wrong.