Goldman Sachs and other investment banks understood the ensuing problem so well that they began betting against the very mortgage-backed securities they were underwriting!
Douglas RushkoffTag: goldman-sachs
We were taking out mortgages we couldn’t afford because they were camouflaged to look as if we had a reasonable chance of paying them back. Banks then changed the bankruptcy laws so that we could not get out of our obligations once the rates changed. Lastly, they sold us back our own mortgages, shifting back to us any of the risk through our money-market accounts and pension funds.
Douglas RushkoffTag: wall-street mortgage
Our digital experiences are out of body. This biases us toward depersonalised behaviour in an environment where one’s identity can be a liability. But the more anonymously we engage with others, the less we experience the human repercussions of what we say and do. By resisting the temptation to engage from the apparent safety of anonymity, we remain accountable and present - and are much more likely to bring our humanity with us into the digital realm
Douglas RushkoffCorporations [gained] direct access to what we may think of as our humanity, emotions, and agency but, in this context, are really just buttons.
Douglas RushkoffTag: humanity marketing corporation data-mining
It's also hard for people to contend with the difficult possibility that we are simply overadvanced fungi and bacteria hurtling through a galaxy in cold, meaningless space. But just because our existence may have arisen unintentionally and without purpose doesn't preclude meaning or purpose from emerging as a result of our interaction and collaboration. Meaning may not be a precondition for humanity as much as a by-product of it.
Douglas RushkoffTag: science
If we could stop thinking of 'meaning' and 'purpose' as artifacts of some divine creative act and see them instead as the yield of our own creative future, they become goals, intentions and processes very much in reach rather than the shadows of childlike, superstitious mythology.
Douglas RushkoffTag: science inspirational
Our enthusiasm for digital technology about which we have little understanding and over which we have little control leads us not toward greater agency, but toward less...We have surrendered the unfolding of a new technological age to a small elite who have seized the capability on offer. But while Renaissance kings maintained their monopoly over the printing press by force, today's elite is depending on little more than our own disinterest.
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