Background: The nation’s largest credit-ratings agency, Standard & Poor’s, is being sued by the Justice Department for civil fraud charges. The accused rates of inflation would have set up S&P for a crash when the financial crisis struck in 2008. Wells Fargo, Citibank, and Bank of America were also charged under this same 1989 law, which intended to protect taxpayers from frauds involving federally insured financial institutions.
Analysis: This news story ties in with the theme of internal conspiracy, which was very prevalent in both the Jameson and Sross readings. In modern day, there is the sense that we live without privacy. Cameras, computers, telephones, etc., follow us everywhere and seem to know everything about us. However, how can we, as a society, feel comfortable with this lack of privacy if we know that our federal departments are corrupt? We can’t. Jameson writes, “…almost everything around us is functionally inserted into larger institutional schemes and frameworks”. So if privacy is thus a null and void concept, how does that shape the way we view our singular self?
There is a tension of the social world forcing itself onto the private individual via technology. These advances in technology are continuously said to better our lives, to connect us in ways we never thought possible. However, I argue that this technology tries (failingly) to replace our need for human connection and instead creates a more mistrusting, individualistic society.