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It's because the U.S. government is so corrupt right now that none of the existing large organizations/corporations will ever be punished the same way Enron was
by mtgx 8y ago
It's because the U.S. government is so corrupt right now that none of the existing large organizations/corporations will ever be punished the same way Enron was, unless the political landscape and system changes significantly.
That's why, regardless of how large a company scandal is, you can make a pretty good bet on the company surviving and recovering easily from the scandal, because the government will protect it/issue a tiny fine to save some face. In this case, Congress literally passed a law to save Equifax from private lawsuits. Absolute insanity. If this isn't a sign of a corrupt government, I don't know what is.
It's a very sad state of affairs that will likely get much worse before it starts getting better.
- g051051 8y agoThe difference was that in Enron's case it was clear criminal intent to defraud, as opposed to security failures. As far as "Congress literally passed a law to save Equifax from private lawsuits", what they did was part of the larger sweep of allowing companies to force arbitration on consumers. It was unrelated to the breach.
- munk-a 8y agoThe allowance of private arbitration is a pretty clear example of corruption though, class action lawsuits exist for the purpose of punishing companies more than delivering assets to the suffering parties and that route has been taking away in a lot of circumstances.
- g051051 8y agoCan't argue there. The rise of arbitration clauses has done a huge amount of damage to consumer rights.