http://news.cnet.com/8301-13578_3-57581161-38/u.s-gives-big-...
CISPA's true motivation is becoming very clear. It's needed to expand a pilot program for dragnet surveillance by the NSA and defense contractors. You know, the same thing they've been doing for ages and getting sued over by the EFF. If you read the letters in support of CISPA by the defense contractors who are lobbying for it and funding Mike Rogers who authored it, they even acknowledge this program by name (it's called the DIB cyber pilot).
That's why the bill is so vague, and why they refuse amendments to narrow the scope. It's a get out of jail free card for complicit companies and they can claim virtually anything is related to "security". They can also be wrong, as long as they claim it was "in good faith". It's more or less the "state secrets privilege" equivalent, but for companies cooperating with the "data sharing".
It solves nothing, because it's already legal to share threat data. You just have to scrub it of private or protected information. If its protected, it's because we passed a law for something we felt was worth protecting. For CISPA to just undo all of those laws wholesale is outrageous.