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They are on the hook for the credit they extend to the fraudulent account, not a 'zillion dollars'. It's likely possible to quantify the effects, regulators co
by maxerickson 5y ago
They are on the hook for the credit they extend to the fraudulent account, not a 'zillion dollars'.
It's likely possible to quantify the effects, regulators could do that and strike a sensible balance between security requirements and so on.
- pc86 5y agoEven well-intentioned regulators are pretty incompetent given the fact they work for the government and all the nonsense that entails. Add in the fact that most regulators are just shills for whatever companies they're supposed to be regulating and "striking a sensible balance" between any two ideals seems pretty unlikely.