# Scandals and Policy Failures Eroding Consumer Trust Service failures, fraud and data manipulation have become part of daily life, shaking confidence in institutions. - **Source:** [The Big Picture](https://ritholtz.com) - **Published:** 2026-08-23 - **Topic:** [Business](https://brifing.si/c/business) - **Original article:** - **On Brifing:** https://brifing.si/s/0a628c37-051f-4233-a822-a6408c093434 ## Rising Consumer Complaints Ticket platforms like StubHub face backlash over event cancellations and refund delays. Once praised for eliminating scalpers, the company now grapples with months-long refund battles. Fans stranded outside a World Cup match highlight systemic failures in customer service, damaging the company's reputation in an industry already plagued by distrust. ## Meta Glasses Enable Harassment Meta's smart glasses have become tools for harassment in US middle and high schools. Teens record invasive 'rizzcam' POV videos of classmates and post them on TikTok under #metaglasses. The trend has alarmed educators and parents, raising questions about Meta's responsibility to prevent misuse of its wearable technology in school environments. ## Fake Investment Funds Exposed Gregory Fenelon, a former JPMorgan banker, falsely claimed to manage $14bn through Wintellex and Fenelon Opportunity Fund. SEC filings reveal both funds as complete fabrications, exposing gaps in financial oversight. The case shows how easily fraudulent schemes can appear in shareholder registries, potentially misleading investors and regulators alike. ## Drug Trial Data Manipulation Axovant, founded by Vivek Ramaswamy, acquired failed Alzheimer's drug rights then hired his unqualified mother to massage trial data. This unethical manipulation misled investors about the drug's efficacy. The scandal highlights systemic issues in biotech where financial incentives sometimes override scientific integrity and patient safety concerns. ## Immigrant Data Misuse The Trump administration allowed ICE to access Medicaid data solely to locate immigrants. Documents show this personal health information was weaponized for deportations. In parallel, ICE collected DNA from nearly 1 million people including children, storing profiles permanently in FBI criminal databases without legal justification - a dramatic expansion of surveillance powers. ## AI Chaos in Publishing The book industry faces crisis as million-dollar deals collapse over suspected AI authorship. One high-profile case saw agents withdraw a debut novel they could no longer verify as human-written. These incidents reveal deep challenges in maintaining trust and originality in creative industries increasingly infiltrated by generative AI technologies. ## Census Bureau Credibility Crisis The Trump administration leveraged the Census Bureau's reputation to promote a bogus voter-fraud report with ties to a pro-Trump think tank. NPR's investigation showed how nonpartisan institutions were co-opted for political agendas. Such manipulation of official statistics undermines public trust in government data critical for democratic decision-making. ## Rebuilding Institutional Trust From finance to healthcare, recurring scandals reveal systemic failures in corporate and government oversight. The normalization of data manipulation, hidden fees and unethical practices demands stronger consumer protections. As self-regulation proves inadequate, legislative action becomes imperative to restore confidence in essential institutions that shape daily economic life. ## Sources covering this story - https://ritholtz.com/2026/08/10-sunday-reads-242/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._