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So isn't the solution here to up the penalties, specifically with codified minimums ($X per leaked phone number, $Y for leaked SSN, etc)? The corporate death pe
by ghayes 5y ago
So isn't the solution here to up the penalties, specifically with codified minimums ($X per leaked phone number, $Y for leaked SSN, etc)? The corporate death penalty would end up hurting the consumers significantly more than this method, which would primarily hurt the share/debt-holders, which is the intent. Corporate dissolution seems like a concern when fraud or malfeasance is specifically involved.
For context, I'm very likely in this breach, but it wouldn't make me any happier to hear T-Mobile was shut-down tomorrow.
- gibba999 5y agoYes, the solution are astronomical penalties. And a corporate dissolution isn't the outcome. The outcome is that T-Mobile goes into bankruptcy, with its customers as the debtors. The outcome of that is that a bankruptcy court divides up the assets to maximize payout to you. Most likely, this means: - T-Mobile, as an entity continues to exist, as-is.. - Shareholder value is wiped out... - And handed to customers, as the customers become shareholders. T-Mobile has a 180B market cap, which probably means you acquire stock worth a grand or so.
- dstick 5y agoNo that wasn’t the point at all. Corporate death penalty was a completely overblown analogy by someone else. What this is about is that a manager / CEO / shareholder can be held personally accountable with punishment that could include jail time. As a deterrent. Right now only the company is accountable as if it’s some sort of living creature, and the penalty is always money. Which as you aptly put, they have in abundance!