“Oopsie! Hope we can afford the 2 million dollar fine!”
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.
So they spent $400m to save money? How many decades until they break even? Imagine what good that money could have done.
Given that medicaid costs something like 880000 million dollars, I can pretty much promise that it saved money if it was denying people en masse.
The whole healthcare system private and public is corrupt and lining the pockets of the wealthy at scale. All the middlemen are leeches from the insurance companies, to the “service” companies that clean hospitals, nursing homes, to the medical supply companies that charge egregious prices.
It doesn’t matter if the healthcare provider is nonprofit because all the other ancillary services make loads and loads of cash… which means medicare/medicaid and all private insurances end up spending tens of thousands of dollars per patient, or more. Turns out… private health insurance profits are regulated to a percentage of money spent on treatments…more spend = more potential profits. It’s a balancing act of raising insurance subscription prices and raising treatment cost negotiations so that they hit that percentage and maximize profit per year.
880 thousand million dollars?
aka 880 billion dollars. Was just keeping the millions total to match the scale of the previous figure.
As designed.
I actually don’t think this was by design TBH
“algorithmic system”? Was it a unix system?
What does one have to do with the other?
Both are systems? 🤷
THANK YOU! These children downvoting me
