Banks hit with $549 million in fines for use of Signal, WhatsApp to evade regulators’ reach::Wells Fargo, a relatively small player on Wall Street, racked up the most fines Tuesday, with a total of $200 million in penalties.
Banks hit with $549 million in fines for use of Signal, WhatsApp to evade regulators’ reach::Wells Fargo, a relatively small player on Wall Street, racked up the most fines Tuesday, with a total of $200 million in penalties.
I break the law, I go to jail. A corporation breaks the law they get a fine the equivalent of a parking ticket.
If corporations want to be people it’s time we start treating them like people. CEOs and Execs in prison. Actual fines that hurt the bottom line. And for the really egregious: shut them down, or if they’re “too big to fail” we can let the government take over or break them up into dozens of small companies ex: Baby Bells
Wells Fargo is worth 163 billion. That $200 million fine is literally 0.12% of their Net worth.
In comparison
The average US salary is $59,428. A parketing ticket on average is about $80
That parketing ticket is 0.13% of that Salary.
So this “fine” is in fact cheaper than a parking ticket.
Yup. The fines should be 10-20% of profits for the time period, per charge, depending on the severity.
That would got their gd attention.
Never profits, always revenue. Profits can be gobbled up by some internal bonus or “future investment in a project”, thus making it $0. Revenue is all the money generated before allocations and expenses come out. Much harder to weasle out of.
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Sometimes I don’t feed the meter if I don’t think a meter maid will get to my car before the parking hours end. I just fuckin risk it.
Agreed. They harm people all day with defective products and the solution is “lol here have this fine that barely hurts you”
I believe the federal government has the power of the corporate death penalty, they just never use it.
At this point I’d rather we be like Asian countries and start jailing the CEOs.
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I’m genuinely ignorant, but is the owner’s protection against the company failing due to standard bad luck/mismanagement/cursed frogurt, the company doing blatantly illegal things under their direction, or both?
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What about the people who working there.
They will be made into hamburgers and i will eat them with mushrooms and swiss
As @Nutteman has spoken, so let it be
Hear ye, hear ye!
They should get UBI, just like everybody else.
To jail with them all!
/s