Sheila Bair, Former Chair of the FDIC, Is Now an “Organizer/Director” of a Cayman Islands Crypto Company that Got a U.S. National Bank Charter Last Year

On November 17, Sheila Bair, the former Chair of the Federal Deposit Insurance Corporation (FDIC) during the financial crisis of 2008, went on CNBC to lament the lack of controls leading to the collapse of the crypto currency exchange, FTX. During the interview, Bair used the phrase “nobody looking behind the curtain.”

Sheila Bair, Former Chair of the FDIC, Is Now an “Organizer/Director” of a Cayman Islands Crypto Company that Got a U.S. National Bank Charter Last Year

Related (why no one was prosecuted for the financial crisis of 2007–2008 + another comment):

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This Is Where Bankrupt FTX’s Money Went: $74 Million for Caribbean Real Estate; $59 Million to Politicians; Tens of Millions to Big Law, Celebrity Endorsements…

This Is Where Bankrupt FTX’s Money Went: $74 Million for Caribbean Real Estate; $59 Million to Politicians; Tens of Millions to Big Law, Celebrity Endorsements…

According to data at the Federal Election Commission, Bankman-Fried sluiced $36 million on the campaign coffers of Democrats during the latest campaign cycle. Ryan Salame, the Co-CEO of FTX Digital Markets, the Bahamian subsidiary of FTX, dumped $23 million into the campaign coffers of Republicans and a Super PAC he created to support them, American Dream Federal Action.

S.4760 was introduced by a Democrat and has both Democratic and Republican cosponsors. S.4356 was introduced by a Republican and has one Democratic cosponsor. FTX Digital Markets’ (Bahamian subsidiary of FTX) Co-CEO donated to Republicans, but all we’re hearing about is Sam Bankman-Fried’s donations to Democrats.

Screenshot from OpenSecrets
Screenshot from Ecosia search results

Yet Another Study Shows Apple’s Hyped Privacy Standards Are Often Empty Theater

For the last few years Apple has worked overtime trying to market itself as a more privacy-focused company. 40-foot billboards of the iPhone with the slogan “Privacy. That’s iPhone” have been a key part of company marketing for years. The only problem: researchers keep highlighting how a lot of Apple’s well-hyped privacy changes are performative in nature.

Yet Another Study Shows Apple’s Hyped Privacy Standards Are Often Empty Theater

NPR is Not Your Friend

NPR is a problem. Good and proper leftists who read Current Affairs may already realize this. “Of course. NPR (Neoliberal Propaganda Radio) is a bastion of establishment groupthink and orthodoxy that gives cover to imperialism and corporate capitalism.” By contrast, readers on the Right who find themselves consuming Current Affairs may have an equally disdainful but entirely different critique. “Of course. NPR is an elitist liberal propaganda cult that serves as a mouthpiece for the Democratic Party, is openly hostile to any conservative voices, and ought to be defunded!”

NPR is Not Your Friend

NRCC pulls ads for Majewski after reports he didn’t actually serve in Afghanistan after 9/11

The National Republican Congressional Committee (NRCC) is scrapping $1 million in scheduled TV ads for GOP congressional candidate J.R. Majewski after military records reportedly revealed he was never stationed in Afghanistan, despite claiming to have served there after the 9/11 terrorist attack.

NRCC pulls ads for Majewski after reports he didn’t actually serve in Afghanistan after 9/11

H/T: MeidasTouch

ClandesTime 234 – Dude Perfect and the US Navy

As youtube has become a centre for emerging pop culture brands, it has also become the target of the US military. In this episode we take a dive into military-sponsored youtube, looking at pop music, influencers and an episode of Dude Perfect set on board a US Navy aircraft carrier.

ClandesTime 234 – Dude Perfect and the US Navy

They even target toddlers! I suppose that’s the type of ‘grooming’ that conservatives would approve of! 🤷🏼‍♀️

How the Debate Over Antidepressants Puts Millions in Danger

Nearly 10 percent of all Americans will experience symptoms of depression every year. One of the common forms of treatment includes a combination of therapy and antidepressants. According to the CDC, around 13 percent of Americans over the age of 18 were taking antidepressants between 2015 and 2018. The most commonly prescribed form of these are called selective serotonin reuptake inhibitors (SSRIs), developed to alter serotonin flux in the brain.

How the Debate Over Antidepressants Puts Millions in Danger

Personally, I prefer being able to choose for myself. You know, my body-my choice!? I’m intelligent enough to do my own research and discuss my treatment options with my physicians. As someone who has suffered from depression, I wouldn’t demonize anyone that chooses to use antidepressants. I’ve been around people who have refused to take them and it wasn’t pretty, either. I can see why people would choose medication, over therapy, as it can be cheaper and less time-consuming (even with private insurance). I would assume that informed consent applies to most treatments (outside of coronavirus). I know that I had to sign informed consent forms every time that I went in, for refills and lab tests, every 90 days (every 30 days when I was on pain medication). Who knows, it might have changed in the past five years?! If they ever force-feed us drugs, to deal with this neoliberal hellhole, I would resist.

Techbro Influencer Scott Galloway Heads To The Fainting Couch Over TikTok

Techbro Influencer Scott Galloway Heads To The Fainting Couch Over TikTok

This week, Galloway spent his time pushing the hot DC claim du jour: that TikTok is a profound menace to the planet and should be banned. He made the point at the Vox Code conference, then hopped over to Bill Maher’s HBO show to make a similar pronouncement:

Actual evidence of TikTok being uniquely dangerous (especially any indication China has used or could use TikTok to bedazzle U.S. children) has been sorely lacking, but that doesn’t stop folks from heading to the fainting couches. This face fanning has been especially popular among a certain set of xenophobic DC politicians, and companies that don’t want to have to directly compete with China.

The problem: the U.S. is a corrupt, xenophobic, superficial dumpster fire, so most of the “solutions” to this potential problem have been stupid and performative.

Here’s the thing: you could ban TikTok immediately, and China could hoover up location, browsing, and behavior data from an ocean of completely unaccountable and hugely shady data brokers and middlemen. And they can do that because U.S. privacy and security standards are hot garbage. And in some instances, they’re hot garbage because of the same people now complaining about TikTok.

Both Carr and Cruz have extensive histories of undermining regulatory oversight and privacy rules at absolutely every opportunity, yet both are lauded by Galloway in a blog post for being heroic leaders in the “ban TikTok” crusades. Galloway’s a top pundit, yet somehow can’t see that Carr and Cruz are engaged in a zero-calorie xenophobic theatrics, and couldn’t care less about actual consumer privacy.

For literally thirty straight years, at absolutely every single turn, we prioritized making money over transparency or consumer privacy. As a result, consumer privacy protections are garbage, regulators are toothless, governments exploit the attention economy to avoid having to get warrants, and any idiot with a nickel can easily build gigantic, hugely detailed profiles about your everyday life without your consent.

“Banning TikTok” does nothing meaningful if you’re genuinely interested in meaningful surveillance and privacy reform. There will always be another TikTok. There’s an ocean of companies engaging in the same or worse behavior as TikTok because we’ve sanctioned this kind of guardrail-optional hyper-collection and monetization of consumer behavioral data at every step of the way.

Many of the folks beating the “ban TikTok” drum may be well intentioned but just don’t really understand how broken the consumer privacy landscape is. They may not understand that this is a problem that’s exponentially more complicated than just what we do with a single app. Freaking out exclusively about a single app tells me you either don’t really understand the data-hoovering monster we’ve built, or don’t really care if anybody other than China exploits it (waves tiny American flag patriotically).

Many of the other folks calling for a TikTok ban aren’t operating in good faith. Facebook/Meta, for example, spends a lot of time spreading scary stories about TikTok in the press and DC because they want to crush a competitive threat they’ve been incapable of out-innovating. Similar, Politico’s owner is on the Netflix board and simply wants to curtail what he sees as a threat to market and advertising mindshare.

Then there’s just a ton of Silicon Valley folks who believe they inherently own and deserve the advertising market share TikTok occupies. And then of course there’s just a whole bunch of rank bigots who are mad because darker skinned human beings built a popular app, and try to hide this bigotry behind patriotic, pseudo national security concerns.

All of this converges to create a stupid, soupy mess that’s devoid of any actual fixes to any actual problems. Hyper surveillance and propaganda are very real problems that require a dizzying array of complicated fixes, including media and privacy policy reform, antitrust reform, tougher consumer protection standards, education reform, and a meaningful privacy law for the internet era.

Previously:

The NATO to TikTok Pipeline: Why is TikTok Employing So Many National Security Agents?

The White House is briefing TikTok stars about the war in Ukraine

UK uses TikTok influencers to urge teens to get jab after Pfizer-linked vaccine committee chair admits policy lacks evidence + White House enlists army of social media influencers to promote COVID-19 vaccines

The Failed Serotonin Theory of Depression: A Marxist Analysis

By Carlos L. Garrido – Sep 9, 2022

A recent study published in the journal Molecular Psychiatry sent shockwaves across the scientific community and popular outlets as it disproved the predominant “serotonin hypothesis” of depression. In just two weeks since its publication it has been accessed by nearly half a million people and the subject of dozens of subsequent articles. The researchers analyzed a total of seventeen systematic reviews, meta-analyses, and other large studies focused on the following six tenets pertinent to the “serotonin hypothesis” of depression:

The Failed Serotonin Theory of Depression: A Marxist Analysis