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When the government wants to destroy a company they have a mechanism for it. https://en.m.wikipedia.org/wiki/Judicial_dissolution https://en.m.wikipedia.org/wik
by javagram 8y ago
When the government wants to destroy a company they have a mechanism for it. https://en.m.wikipedia.org/wiki/Judicial_dissolution https://en.m.wikipedia.org/wiki/Judicial_dissolution
Edit: Arthur Andersen, for instance, was convicted of a crime and had to surrender its CPA license, putting the company out of business.
Fines are just supposed to change behavior. $3 billion is a lot of money regardless, and it’s likely Facebook will invest additional resources in the future to help avoid future such fines.
- ianai 8y agoThey should add 2 zeros to the fine and offer FB the option to be broken apart instead. Crimes were committed. Crimes continue to be committed.
- thaumasiotes 8y ago> Arthur Andersen, for instance, was convicted of a crime and had to surrender its CPA license, putting the company out of business. It was my understanding that Arthur Andersen went out of business as soon as it was indicted, such that there was no point in actually convicting it. And that that experience mostly defeated the purpose of having that process exist, since it isn't appropriate to kill a company without showing that it did anything wrong.
- javagram 8y agoAccording to Wikipedia the firm wasn’t completely put out of business until the conviction. I don’t know how accurate that is. They did win a unanimous ruling on appeal to the Supreme Court years later but by then it was too late to save the company.