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posted by martyb on Wednesday August 08 2018, @01:12AM   Printer-friendly
from the please-practice-pragmatic-paranoia dept.

Facebook wants banks to "share detail financial information about their customers, including card transactions and checking account balances". Summary article here, original paywalled WSJ article here, alternative link may avoid paywall.

Facebook says that "it wouldn't use bank data for ad-targeting purposes", and that they "don't have special relationships, partnerships, or contract with banks or credit-card companies to use their customers, purchase data for ads." You can just hear the missing word yet. In fact, later on the article specifically says "As part of the proposed deals, Facebook asked banks for information about where its users are shopping with their debit and credit cards".

Of course, the great mass of people will have no problem allowing Facebook into their financial lives...


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  • (Score: 4, Insightful) by Anonymous Coward on Wednesday August 08 2018, @04:09AM (3 children)

    by Anonymous Coward on Wednesday August 08 2018, @04:09AM (#718642)

    Debt is abstracted slavery.

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  • (Score: 0) by Anonymous Coward on Wednesday August 08 2018, @04:27AM

    by Anonymous Coward on Wednesday August 08 2018, @04:27AM (#718647)

    Amen brother.

  • (Score: 0) by Anonymous Coward on Wednesday August 08 2018, @06:44PM

    by Anonymous Coward on Wednesday August 08 2018, @06:44PM (#718912)

    No. Debt is having to pay back the benefit you got in the past.

    "I'll gladly pay you Tuesday for a cheeseburger today."

    I see no fault in the burger salesman from demanding that money back on Tuesday. I likewise see no problem for the car salesman from reclaiming their car when the buyer stops paying for the lease (subject to some sanity checks, of course).

    The only time debt is slavery is when there is an abusive system in place... and then it's the abusive system which is the problem and not the existence of debt. Don't demonize debt until you understand the very real good it does, in terms of doing things like starting new businesses.

  • (Score: 2) by FatPhil on Thursday August 09 2018, @02:24AM

    by FatPhil (863) <pc-soylentNO@SPAMasdf.fi> on Thursday August 09 2018, @02:24AM (#719188) Homepage
    Bollocks. I have a few thousand euros in a bank account, the bank now owes me a few thousand euros - I am a creditor, after all. Yet in no abstract, or concrete for that matter, way is the bank enslaved to me.

    Debt acquired under duress, perhaps, but the duress was the root of the slavery, not the debt itself. Debt is just the medium through which prior slavery is propagated. Alas generally with negative attenuation.
    --
    Great minds discuss ideas; average minds discuss events; small minds discuss people; the smallest discuss themselves