4 ms·

> "watchdogs" / ombudsmen, i.e. public entities that have the authority to start cases against corporations, The closest that we have in the US is the attorne

by monksy 9y ago

> "watchdogs" / ombudsmen, i.e. public entities that have the authority to start cases against corporations, The closest that we have in the US is the attorney general in your state. Don't expect a quick action from them.

iancarroll 9y ago
The US has the FTC.
- FussyZeus 9y ago
  Whose fines, in the rare instance they're actually fining companies, never come close to the profits reaped by the activities that broke the regulations in the first place. For reference: The judgement against the banks after the 2008 mortgage crisis, the fines levied against Wells after the debacle with phony accounts, pretty much any case involving a collections agency, etc. When the profits are in the billions, even a fine of 600 million is a paltry line item. You either should fine in an amount relative to the amount made by the illicit activity, or even better, go after the executives behind it directly with said fines or prison. As long as these slimeballs can conduct illegal activity and sail away after "resigning in disgrace" with an 80 million golden parachute, while the company pockets several hundred million, they will continue to do so as has been evident so far for anyone paying attention.
  - johnvonneumann 9y ago
    I've never quite understood how this works, I'm trying to imagine a burglar being asked to give back "some" of what he stole, but not everything, that would be "unfair". Fight fire with fire in many cases, start fining them the years profit, or maybe, just maybe, start treating corporates like the criminals they are.
    - FussyZeus 9y ago
      Because when you're worth several million dollars, the justice system will go to great lengths to pretend your crime wasn't actually a crime. And yeah, this thought is uncomfortable, but I challenge anyone who reads it to prove it wrong.
will_brown 9y ago
The US also has Qui Tam lawsuits, meaning on behalf of the king, one of the more well known versions are whistleblower cases. Though the whistleblower only receives a rather small percent (10% is common, but varies), these lawsuits are some of the largest judgments in history, in particular as related to illegal kickbacks in the healthcare and pharmaceutical industries. The common facts are the business is engaging in illegal activities, the worker raises the issue to the employer and then as you might expect the employer instead of addressing the illegal activity instead retaliates against the employee (loss of hours, loss of wages, outright firings, etc...). https://en.m.wikipedia.org/wiki/Qui_tam https://en.m.wikipedia.org/wiki/Qui_tam Here's a list of some of the largest, $16.5B by Bank of America; $3B GlaxoSmithKline (illegal kickback); $2.2B Johnson&johnson (illegal kickback); pfizer $2.3B (illegal claims); Merck (illegal kickbacks); HCA has 2 of the top 10 totaling near $1.5B (illegal billing, up coding; illegal kickbacks); and on and on it goes https://www.google.com/amp/s/www.qui-tam-attorney.com/amp/10-largest-qui-tam-whistleblower-rewards.html https://www.google.com/amp/s/www.qui-tam-attorney.com/amp/10...
- JetSpiegel 9y ago
  Non-AMP second link: https://www.qui-tam-attorney.com/amp/10-largest-qui-tam-whistleblower-rewards.html https://www.qui-tam-attorney.com/amp/10-largest-qui-tam-whis...
  - luciditywaver 9y ago
    Thank you!
- lotsofpulp 9y ago
  Can you believe the people of Florida rewarded the chief of HCA for defrauding the taxpayers of America, by electing him to be their governor!
  - will_brown 9y ago
    I live in Florida, so I am all to familiar with the Lex Luther looking SOB. But it's fitting for a state that prescribes 10x more oxycodone pills than all other states combined and whose largest industry is Medicare fraud.
delbel 9y ago
Sometimes this works for me if I end up in consumer hell. Be short, professional, to the point, and give all factual evidence. Make it easy for them to work with you, and you will get a response. Also the Office Of The Controller of Currency always responds to my overdraft charges from Wells Fargo. I make sure that it is extremely expensive to screw me over.

by monksy 9y ago

iancarroll 9y ago

The US has the FTC.

FussyZeus 9y ago
Whose fines, in the rare instance they're actually fining companies, never come close to the profits reaped by the activities that broke the regulations in the first place. For reference: The judgement against the banks after the 2008 mortgage crisis, the fines levied against Wells after the debacle with phony accounts, pretty much any case involving a collections agency, etc. When the profits are in the billions, even a fine of 600 million is a paltry line item. You either should fine in an amount relative to the amount made by the illicit activity, or even better, go after the executives behind it directly with said fines or prison. As long as these slimeballs can conduct illegal activity and sail away after "resigning in disgrace" with an 80 million golden parachute, while the company pockets several hundred million, they will continue to do so as has been evident so far for anyone paying attention.
- johnvonneumann 9y ago
  I've never quite understood how this works, I'm trying to imagine a burglar being asked to give back "some" of what he stole, but not everything, that would be "unfair". Fight fire with fire in many cases, start fining them the years profit, or maybe, just maybe, start treating corporates like the criminals they are.
  - FussyZeus 9y ago
    Because when you're worth several million dollars, the justice system will go to great lengths to pretend your crime wasn't actually a crime. And yeah, this thought is uncomfortable, but I challenge anyone who reads it to prove it wrong.

will_brown 9y ago

The US also has Qui Tam lawsuits, meaning on behalf of the king, one of the more well known versions are whistleblower cases. Though the whistleblower only receives a rather small percent (10% is common, but varies), these lawsuits are some of the largest judgments in history, in particular as related to illegal kickbacks in the healthcare and pharmaceutical industries. The common facts are the business is engaging in illegal activities, the worker raises the issue to the employer and then as you might expect the employer instead of addressing the illegal activity instead retaliates against the employee (loss of hours, loss of wages, outright firings, etc...). https://en.m.wikipedia.org/wiki/Qui_tam https://en.m.wikipedia.org/wiki/Qui_tam Here's a list of some of the largest, $16.5B by Bank of America; $3B GlaxoSmithKline (illegal kickback); $2.2B Johnson&johnson (illegal kickback); pfizer $2.3B (illegal claims); Merck (illegal kickbacks); HCA has 2 of the top 10 totaling near $1.5B (illegal billing, up coding; illegal kickbacks); and on and on it goes https://www.google.com/amp/s/www.qui-tam-attorney.com/amp/10-largest-qui-tam-whistleblower-rewards.html https://www.google.com/amp/s/www.qui-tam-attorney.com/amp/10...

JetSpiegel 9y ago
Non-AMP second link: https://www.qui-tam-attorney.com/amp/10-largest-qui-tam-whistleblower-rewards.html https://www.qui-tam-attorney.com/amp/10-largest-qui-tam-whis...
- luciditywaver 9y ago
  Thank you!
lotsofpulp 9y ago
Can you believe the people of Florida rewarded the chief of HCA for defrauding the taxpayers of America, by electing him to be their governor!
- will_brown 9y ago
  I live in Florida, so I am all to familiar with the Lex Luther looking SOB. But it's fitting for a state that prescribes 10x more oxycodone pills than all other states combined and whose largest industry is Medicare fraud.

delbel 9y ago

Sometimes this works for me if I end up in consumer hell. Be short, professional, to the point, and give all factual evidence. Make it easy for them to work with you, and you will get a response. Also the Office Of The Controller of Currency always responds to my overdraft charges from Wells Fargo. I make sure that it is extremely expensive to screw me over.