60 Minutes Confirms the Super Attacks of the Killer Algorithms With Consumer Credit Information With Flawed Data and the Inability to Algorithmically Fix Errors Which Really Makes a Huge Case for Licensing and Taxing All Data Sellers in the US–Chapter 54

 

If you read here very often then you may have seen the 50 some Chapters I have on the Attack of the Killer Algorithms.  There’s always a link on the left hand side under my educational information for consumers that I post.  This has been going on a long time and now it is getting worse.  In addition you may have seen some of my posts about “licensing and excise taxing” the data sellers and this is one big group that should be taxed.  Why?  Government needs more revenue and by having such a provision we would now open the the ability to regulate these folks as lawmakers would have a foot to stand on, they don’t have that now.  Caught selling without a license, not paid your quarterly tax, and we could add some addition fines for violation of not providing timely information for consumers.  My latest post is here and the companies make profits in the BILLIONS, ONCE MORE BILLIONS.  Also you cannot create an efficiently modeled law without bringing privacy too.  I watch and listen to the “no balls laws” that are being proposed and all are nonsense. 

Time Has Come to License and Tax the Data Sellers of the Web, Companies, Banks, Social Networks..Any One Making a Profit-Latest Microsoft/Google Privacy War Helping the Cause –Consumers Deserve to Know What Is Being Sold and To Who in a Searchable Format

Here’s where the privacy issue comes in, (link below) as who would not want to be able to go to a federal website and do a quick look up on a company, a bank, etc. to find out what kind of data they sell and to who, everyone wants this.  If  we get transparent though they are afraid of losing money and if they are doing it correctly they have nothing to hide. 

Privacy Wanted–So Let’s Require Those Who Sell Web Data to Register and Tax the Transactions and Publicly Disclose Who They Sell To With a Federal Registry
 

The same applies to HIPAA with coming out of the silo and we talk on this site about integrating medical records all the time so how about it with a “decent” law model and integrate HIPAA in an overall privacy law too.  It makes sense as you see HIPAA covered material in places where it did not exist before so we need HIPAA rules integrated with laws where it has never been before as well.  Of course we are not talking moving anything from HIPAA and HHS, rather integrating like we do with medical records so complete access of the provisions of various area of the law as relates to privacy is easily available and to ensure that HIPAA laws work in unison with other laws and we don’t have contradictions and unintended consequences that could have been avoided.  This might give some members of Congress fits of frustration as it would require better law modeling and not everyone coming in with their own set of numbers.  We need laws that understands IT infrastructure that monitors privacy and data selling together. 

According to the video out of five people have errors on their credit scores and yes I have written the FTC on this matter myself.  The FTC says everyone is going to get mad and I’m sure my Attack of the Killer Algorithms posts that talk about this has made people mad too.  They not doing anything.  Consumers get stuck and when it comes time to get mistakes corrected, it’s on our dime to fix the flawed data.  They want the money from selling the data to make billions in profit and don’t want to spend the money to correct.

Watch Steve as he calls customer service and gets nowhere and gets India on the line.  Watch the stories of the nightmares of people with issues.  Now you will learn that there’s a difference between what you see and what they report to insurers or banks.  What our lawmakers cannot bring themselves to see is how all this data is connected, they live in bliss.  Here’s my Chapter 42 about a company called e-Scoring and I have had lots of hits on this post as the company completely operates outside of any jurisdictions of the law and sells data they collect and makes millions due to how he classifies his business.

E-Scoring Credit Algorithms Invisible To Consumers Used to Market and Evaluate, Does Not Fall Under Federal Law And Such Are Used by Insurance Companies - How Will This Work With Exchanges –Attack of the Killer Algorithms Chapter 42

I don’t know about you but I’m tired of flawed data and nobody wants the expense and time to fix it.  If you look at what Ticketmaster did for the Presidential Inaugural Ball, same thing.  They made a mistake and put tickets on sale early and when customers who were ready to buy on the date they published as available, tickets were all gone as they put them on sale by mistake ahead of the date.  All who were ready to buy on the announced date were screwed and could not get tickets.  The erroneous algorithms that were turned loose early screwed everyone, except those who happened to visit the website by browsing or whatever for information. 

 

Listen to the story with the trauma nurse from Cleveland and she’s been stuck since 1999.  Wait until you hear all the “flawed data” on her reports that she had never seen.  Where the transparency?  Not there.  She was connected too all types of data that was not hers.  Here’s a similar story from the Killer Algorithm series from 2011.

“Killer Algorithms: Part 2” Disturbing News for Consumers With Credit Scoring Adding New Data Analytics–Some of the Same Methodologies Used by Insurers With Flawed/Potential Erroneous Data–One More Reason to Continue Occupying Wall Street

And yet another couple Killer Algorithm posts with credit and insurers. We are just free labor data chaser and the credit folks have a captive audience as unless we make all the lengthy efforts we are screwed so the middle class has become nothing but free labor data chasers so big corporate USA can make billions in profit. 

Attack of the Killer Algorithms Part 6–Discrimination With Consumer Credit-Same As Health Insurance Wanting Consumers to Reconstruct Records From Many Years Past As Middle Class Turns Into Data Chasers-Days of Taking Risks to Get Ahead Will Be Limited For Most…Occupy Algorithms

This post below tells where North Carolina kicked out Core Logic.  The states already license the data seller to run their bots to collect public information; however the number of bots were slowing down servers to a crawl and consumers like you and me could not get through.  So the next step was for the state to buy software to limit the number of data mining bots.  CoreLogic was not paying and updating their information quarterly either, so they kicked them out and removed their license.  There’s one more reason as to why it takes so long to get errors fixed. 

 

Consumers Lose More Privacy With New CoreLogic Credit Reporting–”Score” Marketed For Insurers and Employers To Gain Information-California Prohibits Potential Employers – From Using As Jan 1 - Killer Algorithms Part 8

And you can look this up on the blog here but check out the bogus FICO analytics they sell using your credit score combined with other data they mine, it’s fraud when they say this information can be used to score you to determine if you will be a compliant patient and take your prescriptions.  Here’s a post last year that even the Nielsen company commented on.  You are being duped with flawed data every way you turn.  Wait until you get caught in the auto refill algorithms of CVS…another nightmare and attack of the Killer Algorithms.  The CVS issue was generated from a pay for performance issue with pharmacists being pressured to meet “goals” for numbers of refills and they get incentive money from United Healthcare too for signing you up in their wellness or other plans.  I mention CVS as that is a transaction too when your prescription is billed when the pharmacists bills it not when picked up and big companies, i.e. Walgreens made short of $800 million selling data in 2010. 

Big Data, Flawed Data, Business Intelligence, Where’s The Future and What Has Been Our Past…A World With ”Algo Duping” of Society and Consumers

Back to the video the nurse had to hire an attorney to fix the flawed data, all created by “Algorithms for Profit”.  It’s all math and code folks that does this and corporate USA just steps all over you and this keep inequality growing too for that matter as taking time out to fix data eats into their profits.  Believe me they have business models that only allow for a certain percentage of time, labor, cost to fix things and when it goes over and eats into profits, well you know what happens.  When you see the end on how disputes were handled in the video you will absolutely croak.  Cheap help and told to “code” the complaints, they couldn’t do anything.  Bad algorithms and a bad model…models behaving badly to quote Emanuel Dermon.  The employees say the creditor was always right, who investigate, what!

THIS IS THE BIGGEST RIP AGAINST CONSUMERS, ALL CONTROLLED BY ALGORITHMS AND BILLIONS ARE MADE WITH PROFITS. 

Probably the most important of my links here, and they are all from the Medical Quack is this last one.  Big data used out of context and this is happening right and left and we have a bunch digital illiterate lawmakers that prefer to waste their time on women’s health issues that remain in bliss and can’t lift a finger to learn anything about this and help consumers.  They are for the most parts “non participants” when it comes to technology and so we continue to get screwed.  I had my own Killer Algorithms with my car insurance, why did they list the new owner of my home I sold six months later as second drivers on my policy…Killer Algorithms mining that data with flawed query makers, where the machines erroneously filled in information they thought I had left out!   Ok you big data fans, are you completely ready to rumble with growing error factors? 

Big Data/Analytics If Used Out of Context and Without True Values Stand To Be A Huge Discriminatory Practice Against Consumers–More Honest Data Scientists Needed to Formulate Accuracy/Value To Keep Algo Duping For Profit Out of the Game Killer Algorithms Part 47

I feel we also have lame cabinet members, many of which are in the same boat, HHS that wans developer to code faster Health IT, a chief of Homeland Security that doesn’t use email (tech non participant) a DOJ that sides with HHS thinking doctor and hospitals are cheating, and SEC that has no clue on trading code and how it works…and the list goes on.  I have never in my life seen such a sorry group that can’t at least make an effort to educate themselves of the reality of what is happing with flawed data, technology and algorithms. 

This takes in both parties as being disappointments and why Wall Street out games them over day and night.  If you watched the Frontline story on the DOJ and big banks, it makes you choke when you saw Manny, the head prosecutor with not exhibiting one lick of confidence in his work, he couldn’t spot a dirty model and code if you paid him 10 times his salary.  Watch the videos on the left of this blog please and you will get educated.  What have I said about reports, 60 Minutes gets one thrown in their face that the survey from the creditor business themselves says 95% of the consumers are satisfied…believe it?  Not me as algorithms have teeth.

All I can really say from an opinion at this point to the politicians and lawmakers we elect is for God’s sakes get over yourself and participate in some form of technology and get rid of the paradigms of “it’s for those guys over there”…before the Attack of the Killer Algorithms get worse.  The White House job council disbanded, it had the wrong focus as nothing happens until you get right down to what is rolling over servers 24/7 and climb out of that cloud of bliss, as more and more the ignorance shows.  Please get a law in place binding with the appropriate IT infrastructure  to regulate, license and excise tax the data sellers making billions and you know, we can do good things with that money, like fund the NIH and the FDA and keep our science research alive.

One More Good Reason to Tax the Data Sellers– Create Additional Funding for the NIH and FDA From Sources That Otherwise Are Too Greedy to Share & Contribute

Last but not least, a big thank you 60 Minutes for a story that way overdue, good job.  Maybe this will finally help with getting this straight and stop inequality from growing.  BD  

http://www.cbsnews.com/video/watch/?id=50140748n