"Specifically, the FBI wants us to make a new version of the iPhone operating system, circumventing several important security features, and install it on an iPhone recovered during the investigation. In the wrong hands, this software — which does not exist today — would have the potential to unlock any iPhone in someone’s physical possession."
Am I reading this right? Apple, if they chose to, can make a version of iOS that disables security features and encryption and load it onto existing phone even though the phone is locked and encrypted?