3 ms·

I’ll be the 10th man and add to the nihilism. Consumer protections are there not for the consumer, but to create some sort of artificial social stability throug

by xattt 4y ago

I’ll be the 10th man and add to the nihilism. Consumer protections are there not for the consumer, but to create some sort of artificial social stability through recourse and take the wind out of any social uprising.

idontpost 4y ago
[dead]
Loughla 4y ago
I'm confused by your nihilism. If the outcome is that I can get my money back (and I would argue that 250k covers a VAST majority of people, and then some), isn't that a fair trade for me not killing and eating a banker?
- xattt 4y ago
  True consumer protection would allow people to have immediate remediation (rather than on a weeks-to-months timeline), and also hold the responsible parties accountable beyond a fine that’s a rounding error in terms of profits.
- weard_beard 4y ago
  Consumer protections are likely to be 3 months out from the point of impact. As the saying goes, we're all 3 hot meals from the end of society.
  - Spivak 4y ago
    If we're in a hypothetical world where a major bank lost say millions of bank accounts and for some reason it was going to take months to correct it would hit the news, there would be emergency legislation blocking eviction, utility shutoff, and debt collection, and interest accrual as well as all the lost bank accounts being credited with a some amount as combination fine/stimulus. The fear is when it's just you.
    - notch656c 4y ago
      Landlords tolerate eviction moratorium with covid because only a fraction of their tenants stopped paying. I think a scenario where just a few million or whatever were effected you are correct. However if it was almost everyone, landlording would become a straight up mob. You'd have to employ violence and bypass the state to maintain the properties and enterprise. No one would rent out property the legal way if they couldn't collect the rents.
      - foogazi 4y ago
        > However if it was almost everyone By the time it got to this another disaster already happened
- gatlin 4y ago
  You are assuming that the institutions offering the protection will follow through for when you need them to. I don't mind people who do believe these promises made to them, but I certainly understand those who don't.

by xattt 4y ago

idontpost 4y ago

[dead]

Loughla 4y ago

I'm confused by your nihilism. If the outcome is that I can get my money back (and I would argue that 250k covers a VAST majority of people, and then some), isn't that a fair trade for me not killing and eating a banker?

xattt 4y ago
True consumer protection would allow people to have immediate remediation (rather than on a weeks-to-months timeline), and also hold the responsible parties accountable beyond a fine that’s a rounding error in terms of profits.
weard_beard 4y ago
Consumer protections are likely to be 3 months out from the point of impact. As the saying goes, we're all 3 hot meals from the end of society.
- Spivak 4y ago
  If we're in a hypothetical world where a major bank lost say millions of bank accounts and for some reason it was going to take months to correct it would hit the news, there would be emergency legislation blocking eviction, utility shutoff, and debt collection, and interest accrual as well as all the lost bank accounts being credited with a some amount as combination fine/stimulus. The fear is when it's just you.
  - notch656c 4y ago
    Landlords tolerate eviction moratorium with covid because only a fraction of their tenants stopped paying. I think a scenario where just a few million or whatever were effected you are correct. However if it was almost everyone, landlording would become a straight up mob. You'd have to employ violence and bypass the state to maintain the properties and enterprise. No one would rent out property the legal way if they couldn't collect the rents.
    - foogazi 4y ago
      > However if it was almost everyone By the time it got to this another disaster already happened
gatlin 4y ago
You are assuming that the institutions offering the protection will follow through for when you need them to. I don't mind people who do believe these promises made to them, but I certainly understand those who don't.