Many out there have this kindergarten belief that what I do; what the Foreclosurepedia Media Institute does, is novel. Order Mills howl at the wind and throw Contractor’s Pay to lawyers in some insane attempt to curtail my investigations against them. Truth is I should receive a Staff so that I could do more!
The reality is that Financial Institutions have been pulling each and every Facebook Post for YEARS among Gigabytes of other information to compile files on everyone under the sun!
Event 6994 – Sentiment Analysis And Social Media Monitoring Solution RFP – was issued back in September, 2011, by the Federal Reserve Board New York (FRBNY).
Not to be outdone, Bank of America went ahead and staffed 20 full time employees to troll the Net as well. The difference is that these trolls report to most State Bureaus of Investigation, the Federal Bureau of Investigation and other law enforcement agencies including those within the Department of Homeland Security’s stable like the Fusion Centers.
Pulling data from the Net is not a Novel Concept. The reality is that there are a couple of Open Source Applications for Open Source Intelligence to which I have contributed code recently. What is novel, is the utilization of Aggregated Data to further Justice.
For those out there whom think your emails and private groups are safe, I applaud the naivety. The reality is that the world is a bad place and there are bad people in it. Is it right for FRBNY to document if you do not approve of the Fed Policy? Is it proper for Bank of America— among 17 other Domestic Financial Institutions — to harvest all of your opinions? I do not know. It definitely crosses a point of no return which is Orwellian in nature.
I am working on a larger Series, right now, which will begin to break down the true realities which are prevalent in both our Industry and our Society. When Financial Institutions refuse to make loans based upon their Social Media Intelligence it is illegal. I venture the guess the same is true with respect to utilizing that same type of Intelligence against Contractors to deny them work.
The next time, though, that Contractors are out there whining about how their Rights being trampled upon they need to ask themselves what did they do to defend them?! The reality is that when one of these Order Mills demand that you send all of your Sub Contractor’s information to them via email there is a good chance that it is going to be intercepted. When it is, the question becomes whom is responsible? My opinion is that it is the Contractor whom is sending the data.
Most Contractors today — and I use that term VERY LOOSELY — have no clue what they are involved in. If I were a Deputy US Attorney General, I would simply strike a deal with the Order Mills to cop a plea and then hang the Contractor out to dry. Why? Well, Contractors all sign these Contracts blindly. No two ways about it.
The reality is that you do not see this madness in the real world; the regulated world. I was following a thread not to long ago dealing with a California Company, whom I will not name, which implicated themselves in a scheme to avoid making Court Ordered Child Support Payments. Now, their position would be that, “You really didn’t understand the way it went down.” Maybe you are right. The question that presents, though, is if I am monitoring this others are as well. Consequently, people need to really sit down and end game what a jury will think on all of their Internet Interactions.
So, the Series will come out later this month. The reality is that it is Amateur Hour with the Hacks and the Order Mills continue to fire off emails with no concern about their implications.
I predict, though, that you are going to see a few changes. I honestly believe that you will begin to see some of the legitimate Vendors out there take some proactive steps to address what has been, to date, the Wild West. I predict you are going to see some long overdue changes to the Draconian Contracts. Remember that statement there. I predict that the real Contractors are going to begin to be identified and moved into good Portfolios. We just helped a few folks in Michigan last week with that respect. Finally, I predict that the implementation of certain Alpha Level technologies will become implemented towards the end of Q1. With respect to the technology, you are going to see the thinning of the herd even more.