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There’s reasoning if you can actually see what’s happening. Does it outway the costs? It’s a political question, but there’s some benefits. For example, JPMorg

There’s reasoning if you can actually see what’s happening. Does it outway the costs? It’s a political question, but there’s some benefits. For example, JPMorganChase is “the” big bank lately. It was able to handle the acute financial crisis this year by providing liquidity and a buyer as needed to keep the system from ever losing a deposit. That was likely bad for them as a business, short term, but it happened because the regulators can call up a single organization and get what they want. Big tech has similar (unrealized) opportunities to keep strategically important things going. One possible example is the ease of releasing the Covid contact tracing system. If there were 20 fragmented parties they may never have aligned.

mandmandam 3y ago
> There’s reasoning if you can actually see what’s happening. You can't see what's happening though, because JP Morgan "mistakenly" deleted 47 million emails. [0] Their fine for that came to about 12 minutes worth of revenue. They "failed" to keep records, firm-wide, right to the top. [1] Again, their punishment was at the "cost of doing business" level. We're talking about the bank that financed and enabled Epstein here [2]. There are other ways to provide liquidity without relying on these ghoulish overlords who manipulate global markets [3] and finance blackmail operations. 0 - https://www.reuters.com/legal/jpmorgan-chase-is-fined-by-sec-over-mistaken-deletion-emails-2023-06-22/ https://www.reuters.com/legal/jpmorgan-chase-is-fined-by-sec... 1 - https://www.sec.gov/news/press-release/2021-262 https://www.sec.gov/news/press-release/2021-262 2 - https://trendingpoliticsnews.com/breaking-attorney-general-terminated-just-days-after-filing-a-lawsuit-against-jpmorgan-chase-for-aiding-epstein/ https://trendingpoliticsnews.com/breaking-attorney-general-t... 3 - https://www.cftc.gov/PressRoom/PressReleases/8260-20 https://www.cftc.gov/PressRoom/PressReleases/8260-20

mandmandam 3y ago

> There’s reasoning if you can actually see what’s happening. You can't see what's happening though, because JP Morgan "mistakenly" deleted 47 million emails. [0] Their fine for that came to about 12 minutes worth of revenue. They "failed" to keep records, firm-wide, right to the top. [1] Again, their punishment was at the "cost of doing business" level. We're talking about the bank that financed and enabled Epstein here [2]. There are other ways to provide liquidity without relying on these ghoulish overlords who manipulate global markets [3] and finance blackmail operations. 0 - https://www.reuters.com/legal/jpmorgan-chase-is-fined-by-sec-over-mistaken-deletion-emails-2023-06-22/ https://www.reuters.com/legal/jpmorgan-chase-is-fined-by-sec... 1 - https://www.sec.gov/news/press-release/2021-262 https://www.sec.gov/news/press-release/2021-262 2 - https://trendingpoliticsnews.com/breaking-attorney-general-terminated-just-days-after-filing-a-lawsuit-against-jpmorgan-chase-for-aiding-epstein/ https://trendingpoliticsnews.com/breaking-attorney-general-t... 3 - https://www.cftc.gov/PressRoom/PressReleases/8260-20 https://www.cftc.gov/PressRoom/PressReleases/8260-20