FaceBook to be Fined $5bn USD

[GOTSpectrum]

20 hours ago, poochyena said:

That would bankrupt the company, sending the stock market crashing, ruining the lives of tens of thousands of people.

I think they should tax 20-50% of the yearly profit for 3-5 years. That way it won't sink the company, but would truly hurt. 

[poochyena]

On 7/15/2019 at 12:51 AM, ARikozuM said:

No, it really isn't a decent amount of people.

What would be?

On 7/15/2019 at 12:51 AM, ARikozuM said:

Most commoners aren't going to have any meaningful amount of shares.

Luckily no one suggested they did.

 

On 7/15/2019 at 12:51 AM, ARikozuM said:

The weak should be protected more than the strong.

You literally just said they shouldn't if its not a "decent amount of people". So, well, which is it?

 

On 7/15/2019 at 1:38 AM, leadeater said:

They aren't getting punished the company is

They lose money, so they are.

 

On 7/15/2019 at 1:38 AM, leadeater said:

100 billion in long term debt is not that much, AMD has had around 2 billion for a long time

Whats the reference for saying 100 billion isn't a lot? 2 billion isn't for AMD since they have 6 billion in revenue.

 

On 7/15/2019 at 1:38 AM, leadeater said:

You don't not fine a company just because it might hurt the employees or the shareholders

The 2008 recession was caused by a few companies going bankrupt, so yea, sure, if you'd like to have another major recession, fine a company into bankruptcy all you like.

[Tieox]

I vote they make Mark apologise like that guy in South Park. 

 

 

[mr moose]

37 minutes ago, poochyena said:

The 2008 recession was caused by a few companies going bankrupt, so yea, sure, if you'd like to have another major recession, fine a company into bankruptcy all you like.

Nope, banks over sold.  a few companies going tits up won't cause a GFC,.

 

Ignore who they say is responsible because depending which article you read they all say it was someone different, however the underlying cause is the same:

 

https://irle.berkeley.edu/what-really-caused-the-great-recession/

https://www.thebalance.com/the-great-recession-of-2008-explanation-with-dates-4056832

[spartaman64]

thats probably about how much money they saved this year by using tax loop holes guess they are finally getting taxed for a year

[The King of the Undead]

I find it sad that this company can shrug a fine higher than my net worth.

[leadeater]

2 hours ago, poochyena said:

Whats the reference for saying 100 billion isn't a lot? 2 billion isn't for AMD since they have 6 billion in revenue.

Simple, Facebook's revenue is 15 billion per quarter and around 2.5 to 5 billion net income per quarter, as noted in another post of mine. With the cash reserves Facebook has, the current zero long term debt liabilities, they could be hit with a 100 billion and be fine, the difference being it would actually really hurt them hence mean something unlike 5 billion.

 

2 hours ago, poochyena said:

They lose money, so they are.

 

On 7/15/2019 at 6:38 PM, leadeater said:

both employees and shareholders are always tied to the operating circumstances of the business, there is no avoiding that.

 

 

On 7/15/2019 at 6:38 PM, leadeater said:

You don't not fine a company just because it might hurt the employees or the shareholders, that's not how things work or should work. But hey if the shareholders don't like it they could exercise their share in the business to correct the problems that caused the fine in the first place.

 

 

Companies should always be punished for laws and regulations they break, and be punished according to the means so it is proportionate to what they can pay so the punishment is both fair and just. 5 billion is not for Facebook, however there are many companies it would be and many where it would be too much.

[trag1c]

On 7/14/2019 at 9:00 PM, leadeater said:

I'd like to see fines amount to more than a years profit, maybe 5 years for this. Fines don't work if they don't inflict enough pain.

There should be more liability held by directors and executives. You start handing out some prison sentences and these companies will get shit figured out very fast. 

 

Nothing says stick the straight and narrow like  the thought of getting an eskimo kiss from a guy named berry.