Big Data & Your Money
Recently, I am reading the book, The Transparent Leader, by Herb Baum. He shared his first-hand experience as a CEO role at crisis moment to “build a great company through straight talk, openness and accountability” to save a Dial Corporation. In the beginning of the book, he mentioned couple big companies such as MCI WorldCorm, Rite Aid, and Enron in 2002. I could recall the head line at daily newspaper while I was in TX. As engineering background with some math/statistic education, I just can’t believe that they were really cooked the book too much/far to control it without share holders’ acknowledgment. After watching the online lecture and several post from some of you, I would like to take this opportunity to introduce the Sarbanes-Oxley Act for you to tide my topic as Big Data & Your Money. According to http://en.wikipedia.org/wiki/Sarbanes-Oxley_Act
,“Sarbanes–Oxley Act of 2002: An Act To protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws, and for other purposes. They are eleven major elements of this Act as
- Public Company Accounting Oversight Board (PCAOB)
- Auditor Independence
- Corporate Responsibility
- Enhanced Financial Disclosures
- Analyst Conflicts of Interest
- Commission Resources and Authority
- Studies and Reports
- Corporate and Criminal Fraud Accountability
- White Collar Crime Penalty Enhancement
10. Corporate Tax Returns
11. Corporate Fraud Accountability
Going back to our professor’s online lecture at Part I, “He argue that the current vogue for computation takes this old belief system-that something like rational calculation might account for every part of the material world, and especially the social and mental worlds-and repurposes it in such a way so to give every appearance of it being something very new.” In my opinion, our current higher education system has already given up the old belief system.
What is old belief system? Honor, Integrity, and Responsibility.
Thinking about who were librarian long long time ago in church. Please also known that no everyone in the world was able to be educated until late 19th. In old world, we all do honor and respect individual who has higher education degree because we trust them and believe that they will do something for common goods which we discuss during the class in the beginning to us. In fact, this is what they done for us (general public)-using very complicated language into Big Data to tell us that we are in good shape and to take all people’s money into their pack.
In the Cultural Logic of Computation, it addressed “the strength of computing’s influence in contemporary culture” What is contemporary culture now? Short cut/view, easy money, don’t know-don’t care, it is not my job description. The original purpose of information technology is to make our life easier. It’s intention did not encourage human being to approach unethical behaviors. Our belief system now has full rhetoric contemporary computation at material life. The presumptions of these head line’s CEO, CFO, and CIO presented very well that is done for the good of people (more their profit) and empowers users-them.
Looking at Part 2 of online lecture from our professor, the big question from Golumbia
- Is human life at the center of “big data” and computationalism after all…
- or is human life in the process of being reimaged as the shadow of data production and manipulation
I choice the last one because our life has been manipulation by big data. Maybe, we shall create the new sentence-Big Data is power and remove knowledge is power from our text book in our current higher education system. Finally, for Sarbanes–Oxley Act of 2002, “a lawsuit (Free Enterprise Fund v. Public Company Accounting Oversight Board) was filed in 2006 challenging the constitutionality of the PCAOB.”
“On June 28, 2010, the United States Supreme Court unanimously turned away a broad challenge to the law, but ruled 5–4 that a section related to appointments violates the Constitution’s separation of powers mandate.
The act remains “fully operative as a law” pending a process correction.”
The fully article, Supreme Court Upholds Sarbanes-Oxley Act, is available at New York Times as