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.
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!”
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.