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So in one of the latest redistributions of wealth from business to government, the FTC fined Google $1.7 million. This is to settle a case where Google knowingly harvested information from children for ad profit. This ludicrous settlement sent two messages that were perfectly clear.
The FTC and government in general are afraid to actually punish Google, since their yearly revenue is close to 1000x that fine.
It is OK to victimize kids if you kick some of the profit back to Uncle Sam.
So my question is, who does this benefit? Certainly it did nothing to help the kids that were illegally used by Google for profit. The FTC also picked up a nice $5 billion dollar check from Facebook, which sounds impressive until you realize that is less than one month's revenue for them.
Fines should not be profit for the government, they should be collected and distributed to the victims as partial compensation. Also I think fines should be stiff enough to deter further illegal behavior, and I think any cases involving fines that high, should also result in some prison time for those that were in charge of the illegal operations.
FTC fines go to the US Treasury. Just like your money for a traffic violation goes to the local government.
If you are looking for compensation to those hurt by the action you need a lawsuit.
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So in one of the latest redistributions of wealth from business to government, the FTC fined Google $1.7 million. This is to settle a case where Google knowingly harvested information from children for ad profit. This ludicrous settlement sent two messages that were perfectly clear.
The FTC and government in general are afraid to actually punish Google, since their yearly revenue is close to 1000x that fine.
It is OK to victimize kids if you kick some of the profit back to Uncle Sam.
So my question is, who does this benefit? Certainly it did nothing to help the kids that were illegally used by Google for profit. The FTC also picked up a nice $5 billion dollar check from Facebook, which sounds impressive until you realize that is less than one month's revenue for them.
Fines should not be profit for the government, they should be collected and distributed to the victims as partial compensation. Also I think fines should be stiff enough to deter further illegal behavior, and I think any cases involving fines that high, should also result in some prison time for those that were in charge of the illegal operations.
The government and Google are one in the same.
Fines are just an agreed-upon kickback in the circle jerk. It gives the illusion to us peasants that the government is independent of commerce, we have capitalism, and no one is above the law.
Newsflash: the government is commerce, we live under socialism, and the law only applies to those who wish to fight the government/corporate thrown. You do that last thing...you'll find out real quick who the law applies to and who it doesn't.
FTC fines go to the US Treasury. Just like your money for a traffic violation goes to the local government.
If you are looking for compensation to those hurt by the action you need a lawsuit.
I am aware of that, but the question is who benefits? Not the victim. I am sure the taxpayer never sees a tax break due to these fines. Obviously not the advertisers who paid money for illegally attained information. Not the local businessmen/women who's area these kids were marketed away from.
I am curious if anyone can actually point to a beneficiary of these fines beyond some untraceable deposit in the bowels of the federal government. Where does this money go, and what good comes of the fine?
As to lawsuits, I understand the difference between criminal and civil actions. But, this question is about the criminal end. Fines have been used before to compensate victims. They are labeled as restitution in that case, but since they are assessed by the court, they are in fact fines by another name.
Fines are not meant to be a vehicle of benefit, they are meant to be a deterrent of actions.
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Even if the parties that receive fines end up getting the money back through subsidies and laws/regulations which their lawyers write?
I'm guessing this paradigm doesn't do much as a deterrent. Just a hunch.
It is impossible to guess what would happen if the laws weren't in place, well, I could guess, but not prove it.
Do you think speeding tickets reduce people speeding in general, or not?
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It is impossible to guess what would happen if the laws weren't in place, well, I could guess, but not prove it.
Do you think speeding tickets reduce people speeding in general, or not?
No. In my experience most speeding tickets are issued to those who just like to speed.
I'm not attacking your explanation of the system. You're absolutely correct...on paper. I'm just pointing out that it's only correct on paper because the government and corporations such as Google are one in the same.
The funneling of money back and forth is a big shell game to give the illusion that the government works for us peasants, the corporations are 100% capitalist, and nobody is above the law. You don't have to be an anarchist like myself to fully see this and admit to it.
Remember when Sammy got JP Morgan for $135 million last Christmas for "improperly handling" ADRs?
That's like fining me $3 for speeding and no other ramifications like points on my license.
If we look like we're independent and we announce these fines and you make public adjustments to show you've learned the lesson the gravy train keeps going.
And for us slaves? Scraps.
JP Morgan's closing statement on the case I cited...
Quote:
“We’re pleased to have resolved this matter, which is related to an industry practice we voluntarily ended a few years ago,” said Andrew Gray, a JPMorgan spokesman.
Fines are not meant to be a vehicle of benefit, they are meant to be a deterrent of actions.
Then they should be more than 1000th of a corporations revenue. What does a small fine like that do to a mega corporation like FB or Google? To me it just sends a message they can do what they want.
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