Thousands of children and adults were automatically terminated from Medicaid and disability benefits programs by a computer system that was supposed to make applying for and receiving health coverage easier.
I wish the law got rewritten for companies so that it’s more of revenue + assets of the top level execs personally + the company as well. I know it isn’t going to happen, but I could dream.
Honestly executives and board members who receive performance bonuses and golden parachutes should carry extra liability, such that these perks can be denied or even clawed back (and used to help the damages) when their decisions have these sort of outcomes. Nothing wrong with making more when things go well, but if you’re going to take a larger piece of the pie, then you need to be prepared to take a smaller piece when things go wrong (aka, cut executive pay before layoffs, etc.).
I’ve always said that I won’t believe corporations are people until the state of Texas executes one, and the state of Alabama forces one to go through with an unviable business venture.
Disgorgement. It should be the bare minimum punishment floor. The problem with everything right now is the juice is still worth the squeeze cuz they all want to be able to do it
Fine should only be the punishing part of it (yes, I’d expect it to be based on revenue and also have personal components), above restoring damages to everyone affected.
Why does everyone hate ancap, when the ancap logic of fines is what I’ve just written.
If Meta would restore damages for every its wrong proven to every person affected, it would go bankrupt. Here’s your ancap answer to monopolies.
TBF fines do more than that, they tank stock value if the company is publicly traded. That makes stockholders mad at the corporate leadership and threatens their jobs.
That seems like a pretty weak consequence, and not an intended one. Worse, it’s one likely to be least impactful for the worst offenders - a megacorp isn’t going to care much about fines, and the market won’t see any danger to their investment in them.
If Mark Zuckerberg keeps breaking the law and gets Meta constantly fined, tanking the stockholder value, heck yeah he’s gonna be out of a job. That’s a relatively big consequence as far as consequences go.
I certainly hope that happens. But it’s not a reliable enough consequence to justify the currently low level of fines, which was how I read your earlier comment.
That’s like saying “putting a murderer to death doesn’t bring the victim back”.
Like, okay. And? Restitution is not the point of penalties like these, it’s to punish the perpetrators and deter others from doing the same in the future.
“Oopsie! Hope we can afford the 2 million dollar fine!”
I wish the law got rewritten for companies so that it’s more of revenue + assets of the top level execs personally + the company as well. I know it isn’t going to happen, but I could dream.
Honestly executives and board members who receive performance bonuses and golden parachutes should carry extra liability, such that these perks can be denied or even clawed back (and used to help the damages) when their decisions have these sort of outcomes. Nothing wrong with making more when things go well, but if you’re going to take a larger piece of the pie, then you need to be prepared to take a smaller piece when things go wrong (aka, cut executive pay before layoffs, etc.).
If a company commits a large crime they should be shut down or nationalized. People can get the death penalty so companies should too
I think people should get the death penalty, too, in this case. Fucking with healthcare literally kills people.
I’ve always said that I won’t believe corporations are people until the state of Texas executes one, and the state of Alabama forces one to go through with an unviable business venture.
That would mean that rich people would be punished for something.
I can dream
We all can dream the true dream
Disgorgement. It should be the bare minimum punishment floor. The problem with everything right now is the juice is still worth the squeeze cuz they all want to be able to do it
Fine should only be the punishing part of it (yes, I’d expect it to be based on revenue and also have personal components), above restoring damages to everyone affected.
Why does everyone hate ancap, when the ancap logic of fines is what I’ve just written.
If Meta would restore damages for every its wrong proven to every person affected, it would go bankrupt. Here’s your ancap answer to monopolies.
TBF fines do more than that, they tank stock value if the company is publicly traded. That makes stockholders mad at the corporate leadership and threatens their jobs.
That seems like a pretty weak consequence, and not an intended one. Worse, it’s one likely to be least impactful for the worst offenders - a megacorp isn’t going to care much about fines, and the market won’t see any danger to their investment in them.
If Mark Zuckerberg keeps breaking the law and gets Meta constantly fined, tanking the stockholder value, heck yeah he’s gonna be out of a job. That’s a relatively big consequence as far as consequences go.
I certainly hope that happens. But it’s not a reliable enough consequence to justify the currently low level of fines, which was how I read your earlier comment.
Oh no 😱 the stock value!! I guess that makes up for all of the people dying because they were denied care.
That’s like saying “putting a murderer to death doesn’t bring the victim back”.
Like, okay. And? Restitution is not the point of penalties like these, it’s to punish the perpetrators and deter others from doing the same in the future.