The Federal Reserve Bank of New York is seeking bids for software to monitor what's being said...

The Federal Reserve Bank of New York is seeking bids for software to monitor what's being said about it on social media such as Facebook and Twitter. If the sensitive types at the Fed were monitoring reaction to the move, it would find commentary less than flattering - much of it of the Big Brother variety.

Comments (9)
  • Steve B. Wise
    , contributor
    Comments (120) | Send Message
    I think they should monitor what is said about them, they should have an awareness as to how the market participants view their actions.
    28 Sep 2011, 01:41 PM Reply Like
  • labas112
    , contributor
    Comments (535) | Send Message
    ROTFLMAO, r u serious! OMG Fed! Thanx 4 monitoring tweets and not monetary policy.......Sincerely Twitterland.
    28 Sep 2011, 01:41 PM Reply Like
  • untrusting investor
    , contributor
    Comments (9903) | Send Message
    so true.
    28 Sep 2011, 01:58 PM Reply Like
  • tunaman4u2
    , contributor
    Comments (3491) | Send Message
    I think they will be reading LOTS from the Tuna !
    28 Sep 2011, 01:50 PM Reply Like
  • Neil459
    , contributor
    Comments (2636) | Send Message
    With the FED its never been about doing whats right, but what they can get away with. They needs these social media feeds to know how far they can push their criminal activities.
    28 Sep 2011, 01:52 PM Reply Like
  • warrenrial
    , contributor
    Comments (551) | Send Message
    The FED was never anything buy a criminal organization.
    28 Sep 2011, 01:58 PM Reply Like
  • Jackson999
    , contributor
    Comments (471) | Send Message
    I am sure the NSA can help them....
    28 Sep 2011, 02:05 PM Reply Like
  • Jason Rines (iThinkBig)
    , contributor
    Comments (2229) | Send Message
    Allow me to evaluate the RFP and Alternative Media response:


    The RFP


    1) Ben Bernanke knows what he is. A banker. Bankers don't really do fiscal policy. They do monetary policy.


    If I boil it down even simpler, bankers make loans. They loath dealing with details of how it is deployed.


    2) IB's became gamblers themselves once the decision was made to keep rates low and devalue the currency. Speculating on commodities especially oil where the PD's lined up at Fed Discount window is a form of recapitalizing the banks. So PD's have deviated from the basic mechanics of VC for at least the last decade.


    3) Congress fully abdicated its fiscal responsibility role to the Federal Reserve long ago.


    Conclusions: There are no skilled leadership with fiscal policy put in place to rapidly begin building a production based economy.


    The RFP is a request to build a Marketing Intelligence System (MIS). The language used in the RFP refer to a digital dashboard and database triggered events. These terms are known by the few technology managers that build MIS. I know exactly what he wants to build and why.


    The why is to detect and determine the scope of underutilized value in labor and capital structures to be deployed in a return to a Save and Invest economy. SOMEONE needs to start SOMEWHERE on research and government is best left to the 'R' part of R&D.


    By the way, I already built this kind of a system. Three years ago in fact and it is live and operational. Begging for funds was a real problem in this LOG environment but I kept bootsrapping it forward. Isn't the fact that our entire nation more than a decade plus far removed from an industrial, energy, infrastructure problem alarming enough?


    The Media Reaction


    Alternative media completely missed the intent of the RFP. Here is why they were wrong:


    1) Delivering an RFP to the open market is a free-market decision by the FOMC. The FOMC have plenty of insider techies to build this kind of system. This was an anti-Fascist statement to release the RFP to the public. Bravo!


    2) The FOMC can get whatever information on any citizen it wants at any time covertly. One because they see almost every transaction conducted on earth and two because they could just ring the SAIC that analyzes the data coming from projects Echelon and Carnivore both which were built to clandestinely spy on every person on earth. These two systems were built between 1994-2000.


    3) This reaction of giving no leader any chance to do anything constructive is indicative of the social contract being torn to shreds along with the rule of law and the duration this break-down has not been properly addressed, not even from a PR perspective, nevermind returning to legal framework in banking that protects the public. If in 2008 we all tasted the hangover from the big global debt binge, you wouldn't be seeing serious social unrest at Liberty Square. But since the party kept going for the leaders only, it highlighted and amplified the class warfare of us and them.


    Conclusions: Interfacing with the people you lead is not just a good idea it is critical to maintaining a society that can always continue growth and provide returns/stability no matter the burps. Acting as a 'ruler' only gets you killed in the end, history never changes. The Central Bank model will evolve. I do believe Chairman Bernanke is trying to do what is right with building this system. Same as his conducting SOHO surveys that normally would fall well outside the Feds real mandate which are managing interest rates.


    PS: I own alternative media. I crucify decisions based on flawed business models and outright sociopathic cruelty, but I also must be fair if I really actually care about the 1st Amendment and defend the slam against this project by the Fed as I consider it sound. This time was different for so many reasons, the Central Bank model will evolve much more than just an MIS by the time sanity returns to mankind. I wager it will look far more utilitarian and democratic no matter how much kicking and screaming happens from particular bankers along the way.
    28 Sep 2011, 02:22 PM Reply Like
  • User 487974
    , contributor
    Comments (1101) | Send Message
    Hey Bill Dudley, you and Obama
    S U C K !!!


    Rebellion to tyrants is Obedience to God


    May the good lord watch over this wonderful little experiment in freedom / free speech we call America


    God Bless The Virtuous
    28 Sep 2011, 02:37 PM Reply Like
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