4 ms·
"Bank runaway" and "Loss of confidence in markets" does it. That works for your country. Why aren't banks in smaller countries affected? Their security is not
by catlikesshrimp 1y ago
"Bank runaway" and "Loss of confidence in markets" does it.
That works for your country. Why aren't banks in smaller countries affected? Their security is not good, and markets aren't important.
In Costa Rica there was an incident where the equivalent of the IRS was held ransom and the government didn't pay. (Thumbs up to them.) Again, why doesn't that happen to banks there?
- observationist 1y agoDepends on the confidence and appetite for risk of the leadership, what they're instructed to do by boards, what they think they can or should get away with. If it's a hesitant political creature who wants to hide weakness it's going to be much different outcome than a strong leader with a principled stance, like Costa Rica. Lots of shitty behavior is grounded in what weak people imagine other people will think of them, and them bending over backwards to hide and cover up and obfuscate. Those are the ones that pay ransomware gangs, and they're also the ones that don't plan ahead and prepare responsibly.