There was a medley of developments in Germany today—again touching on individual sovereignty under fiscal solidarity, although at the end of the day, I suppose anyone should want to be part of a like-minded empire rather than in thrall to business and banking interests, and the reinvigourated failure of moving forward on a financial transaction tariff, however, deftly, I think it was the decoy story that let the others pass, virtually unnoticed:
nothing new, really, but quite relevant and publically digestable was the revelation that the chief German private consumer credit reporting agency (the equivalent of the triune of terror in the States of Equifax, Experion and TransUnion) and a university sociology department are researching the effectiveness of the internet and social networking sites in gauging the
creditworthiness (
Bonitรคt) of potential clients. The team was a little red-faced about being exposed and assured reporters that the exercise was purely academic and on the up-and-up. I would not think that this sort of behaviour, while unpalatable in the extreme, was so very shocking. Already in American, it seems like fishing and harassment on-line is standard procedure for bill-collectors and underwriters. Just as employers might judge a candidate by his or her avatar and easily-accessible reputation (everyone’s a detective), I would guess that a bank or its minions might do the same thing before extending a line of credit to a stranger. An individual’s life on-line is certainly never complete and probably a caricature of his or her hopes, aspirations, maturity and responsibility, and there should not be an expectation of anything otherwise. Protection against this sort of prying is important but also, I think, tempting bait for the public’s and government’s attention, detracting from bigger and enforceable issues. I also found it funny that for all its covert research, the agency was not able to form an accurate picture of the performance of the same social-networking platform on the open market, which just shows what people will latch on to.
