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Computer Ethics Essay, Research Paper

Questions of Ethics in Computer Systems and their

Questions of Ethics in Computer Systems and their Future

1) Identify and discuss security issues and considerations evident for Information Systems

And computerization in the brokerage industry. ( Think about how the Internet has already influenced trading.)

“The technology is getting ahead of regulators” claims David Weissman, director of money

and technology at Forrester Research Inc., in Cambridge, Mass.

If one is to believe the quote above it sounds very ominous for the regulators and the government

to attempt to even bring this media under any kind of regulation. But, what is it that they the

government agencies truly are looking to regulate? If you take to the argument that this media,

the Internet is truly a public access network, then the control to which they would like to extend

to it would be the most regulated public access system in history. What I believe the attempt here

is to regulate through censorship. Since it is almost impossible to censor the phone networks

without actually eaves dropping on your phone, they have decided to regulate and censor your

written word. The danger in this is what you write as an opinion may be construed by that

government regulator as a violation of some regulatory act. The flip side to this is if you did this

through another medium such as the phone system nothing would ever come it. The bigger

question here is how much government do people want in there lives? The Internet was brought

into the picture for the public as the next great technology of this century. It is without a doubt as

big if not bigger than any other public means of communication that has come before it. With

that in mind I think the government is trying to extract it’s pound of flesh for what they believe is

missed revenue dollars that could be made in the form of tax regulations.

“There are probably insiders touting stocks on the Internet either anonymously or under

assumed names,” said Mary Schapiro, president of the National Association of Securities

Dealers, which oversees the NASDAQ market. The argument that they are both (the government

and NASDAQ) currently running with is the “protection of the investor”. When one looks at

NASDAQ’s complaint it is fairly superficial, for them it is clearly a loss of income for their

trading enviorment, for the government it is a loss of taxes that could be derived from those

trades. Are we to believe that both of these agencies only have the best intentions at heart for

those investors that might be duped. These issues have been around for along time through the

use of other mediums like the phone system, direct mail marketing, “cold calling” from “boiler

plate” houses, and even unscrupulous brokers who work in legimate brokerage houses. People

today are still the victims of these types of scams through the use of the older technologies. So

how is it that since the older scams are still being used is one to believe that they will have

anymore success tackling the complex nature of the Internet and the myriad of scams that could

generate from it. The success rate of convictions from past indiscretions is low at best, one only

has to look at the mountain of arrests for “insider trading”, that the government launched during

the late 1970’s through the middle 1980’s to realize for all the hype of cleaning up Wall Street not

a whole lot ever came from the scourging. What it seems to me is Ms. Shapiro would be better

suited to try and align her NASDAQ forum with the Internet technology to take advantage of the

technology rather than trying to use the government to bully people into being afraid to use the

technology. Her second quote of “there is a tremendous amount of hype,” comes off as nothing

but sour grapes and a big opportunity to use her position to knock the Internet. If she honestly believes she’s done everything to insure her customer base that her system of doing business is

any bit as less likely to fall victim to insider trading and traders touting of stocks beyond what

they should be touted as, she is sadly mistaken. The average investor is going to use every

opportunity presented to them if they think it will give them the advantage in investing. Just look

at places like Harry’s at Hanover Square, a popular bar in the Wall Street area where depending

on the afternoon one would only need walk around the bar to hear the broker types hyping their

own stocks to each other and just about anyone in sight. Are they ready to regulate this very

common practice done for the last 30 years, or how about the broker’s who spend weekends on

golf courses singing the praises of their stock to customers and brokers alike, who then come in

on Monday and trade off the weekends knowledge or what they heard at the bar. How do they

regulate this kind of “insider trading” activity, they have no way to help or protect the person

who is not privy to these kind of conversations or dealings. The availability of the Internet to

trade on this information to a larger market base I believe does even the playing for a lot of

people who do invest. I don’t believe that those who would use the Internet for financial

information are that wild in their approach of their investing to fall for the super-hype of

someone they don’t know. For those do they would have fallen for it through any media out their

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