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Do establish in what way these fines are at all reasonable or appropriate. I don't think you know to what level this data loss is if you're being this reactiona

Do establish in what way these fines are at all reasonable or appropriate. I don't think you know to what level this data loss is if you're being this reactionary.

sensanaty 3y ago
> reasonable or appropriate That's the point, they shouldn't be "reasonable" nor "appropriate" for an entity as large and with as many resources as JPM. Surely with the 300k employees they have and the literal infinite well of money they have, there's a few competent individuals working there to prevent these sort of "mistakes" from happening, and if not then they should either find some competent people, or cease to exist. What's reasonable about charging them 4 million? It's not even a drop in the bucket, it's a singular molecule of water getting inserted into the bucket if we're talking about JPM.
- latency-guy2 3y ago
  So, you want the fine to be unreasonable, and inappropriate? That's your stance? Why should anyone care for your opinion, your ideas, or your morals?
  - sensanaty 3y ago
    When it comes to companies like JPM that blatantly disregard the law constantly and are never given more than tiny little taps on the wrist, yes? If it were up to me we'd start rounding up every C-Suite we could, let's see how much longer they'll keep trying to get away with things like this after that. Tell me, what exactly is reasonable or appropriate or fair about such a pittance of a fine for such blatant corruption? We're not talking about some random mom & pop shop, we're talking about the largest fucking bank in the States and arguably the entire world here. Someone in the thread already did some rough back-of-the-napkin math, this 4 million is a bit less than 20 minutes of income for them, in what universe is that a reasonable fine?
agentgumshoe 3y ago
In a regulated industry, the regulator would absolutely issue fines and threats of license if gross incompetence led to them not upholding their regulatory duties... Well in some ideal world that would happen, but ha, not likely. Instead they'll just have to have some 'extra' meetings with the regulator and report on their remediations later.
- deleted 3y ago
  [deleted]

Do establish in what way these fines are at all reasonable or appropriate. I don't think you know to what level this data loss is if you're being this reactionary.

sensanaty 3y ago

> reasonable or appropriate That's the point, they shouldn't be "reasonable" nor "appropriate" for an entity as large and with as many resources as JPM. Surely with the 300k employees they have and the literal infinite well of money they have, there's a few competent individuals working there to prevent these sort of "mistakes" from happening, and if not then they should either find some competent people, or cease to exist. What's reasonable about charging them 4 million? It's not even a drop in the bucket, it's a singular molecule of water getting inserted into the bucket if we're talking about JPM.

latency-guy2 3y ago
So, you want the fine to be unreasonable, and inappropriate? That's your stance? Why should anyone care for your opinion, your ideas, or your morals?
- sensanaty 3y ago
  When it comes to companies like JPM that blatantly disregard the law constantly and are never given more than tiny little taps on the wrist, yes? If it were up to me we'd start rounding up every C-Suite we could, let's see how much longer they'll keep trying to get away with things like this after that. Tell me, what exactly is reasonable or appropriate or fair about such a pittance of a fine for such blatant corruption? We're not talking about some random mom & pop shop, we're talking about the largest fucking bank in the States and arguably the entire world here. Someone in the thread already did some rough back-of-the-napkin math, this 4 million is a bit less than 20 minutes of income for them, in what universe is that a reasonable fine?

agentgumshoe 3y ago

In a regulated industry, the regulator would absolutely issue fines and threats of license if gross incompetence led to them not upholding their regulatory duties... Well in some ideal world that would happen, but ha, not likely. Instead they'll just have to have some 'extra' meetings with the regulator and report on their remediations later.

deleted 3y ago
[deleted]