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Would bankruptcy be so bad? “Sorry, Equifax. Due to some recent financial irresponsibility, we’ve unfortunately had to lower your score. To zero.”
by journalctl 7y ago
Would bankruptcy be so bad? “Sorry, Equifax. Due to some recent financial irresponsibility, we’ve unfortunately had to lower your score. To zero.”
- the_watcher 7y agoClarified above, but I was thinking about likelihood of receiving the settlement, not fairness to Equifax. A settlement number so punitive it would put them out of business would substantially reduce the chances of those impacted receiving more than a token amount.
- mattkrause 7y agoOn the other hand, driving the value of their stock to zero would be a very effective deterrent against future bad behavior.
- navigatesol 7y ago>On the other hand, driving the value of their stock to zero would be a very effective deterrent against future bad behavior. Perfect! Then, we can try killing people who commit heinous crimes, or at the very least lock them up for the duration of their lives. When you make a mistake, you and everyone around you should pay, regardless of their involvement or actual harm done to others. Dearly. Why has no one thought of this? I have no worries, because me and the work I do are without flaws. Sounds like Utopia.
- mattkrause 7y agoHa! But, really, I think a corporate "death penalty" would be much more justifiable than a corporeal one. The company can reform its business and try again; whatever's left of it (the ultimate shareholders) could even be made whole (with cash) if the decision was egregiously bad. Natural people, on the other hand, aren't coming back from the dead. I don't follow the "perfection" part of your comment. I'm certainly not suggesting that this be the only remedy, but this is, as things go, pretty bad, and maybe it deserves a pretty harsh punishment.