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Our JOKE Of A ‘Government’

17-7-2019 < SGT Report 42 483 words
 

by Karl Denninger, Market Ticker:



You got to be kidding me — applauding this?



According to a report in The Wall Street Journal, the Federal Trade Commission has approved a settlement under which Facebook will pay a record $5 billion fine for violating an FTC order regarding its privacy practices.


The settlement, which still needs Justice Department approval, shows that Facebook is finally getting a well-deserved punishment for abusing the privacy of those who use the service.



Facebook is getting punished?  How?


How do you “punish” a corporation?  Fining it well less than five percent of its revenue for the previous 12 months is a joke.



Let’s take this in context; you have a job that pays $50,000 a year.  You get caught doing something really egregious — for the second time!  Let’s say you have a second offense DUI.  In other words, you didn’t kill or injure anyone, but you did break the law — twice, the first time getting caught, then again doing the same thing.


You spend no time in jail, there is no revocation of your driver license or plates, and your total fine is…… $2,500.


That’s it.  No other punishment of any sort.


Most people who get a first DUI wind up with north of $10,000 of loss even if they make nothing.  For someone who makes $20,000 a year this is 50% of their gross income!  Oh, and they sometimes go to jail too — for a second offense that’s quite likely.


third offense, in most states, is a felony and carries prison — not jail — time.


Remember, this was not the first time Facebook got caught breaking the law.  They got caught previously and agreed not to do it again.  Well, they did do it again.  And again.  And again.  And got caught again.


They were clearly not penitent nor do their officers and directors, including Zucker****er, give a wet crap about what the law requires or what they agreed to.


There is no government action that will be taken to stop this.  The only action that will work is criminal prosecution of the directors and officers, imprisoning them and asset-stripping them of their stock — something that’s of questionable capability, given the existing state of law.


But that Congress won’t pass laws to mandate such doesn’t mean we, the people can’t decide that this conduct is unacceptable and will not stand.  We can.  We have legal, available means to do this.  We can refuse to deal with any person who works for such a company.  We can refuse them service.  We can refuse to let their kids play with ours.  We can isolate them to the point that they have only others in that firm to associate with.  Yes, that’s a big club, but if we do that, we delete these apps, we boycott all their advertisers and tell them why we have plenty of tools available to us to literally destroy the “value” of both these firms and those who run them.


Read More @ Market-Ticker.org





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