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Facebook Hit With $5 Billion FTC Fine, But Ruling 'Leaves the Public Vulnerable'

Originally published at http://www.commondreams.org/news/2019/07/24/facebook-hit-5-billion-ftc-fine-ruling-leaves-public-vulnerable

The wholesale capture, by predatory corporations, of the agencies which are supposed to protect citizens from those predatory corporations as well as the wholesale capture of Congress has been obvious for decades. The wholesale capture of the Judiciary has ‘sealed the deal’ as far as institutionalizing Fascism in this country. Our government has loudly announced that it has no interest in representing the citizenry or protecting their rights under the Constitution. Is it any wonder that most people don’t bother to take part in the obvious charades which pass for democratic elections, or if they do participate, end up elevating a terrorist as president of the most powerful and violent criminal regime in the world?

This can no longer be considered an ‘anomaly’ or a freak occurrence. We have arrived at the point of having awoken with a severe alcohol and drug-induced hangover, looking into a mirror, seeing ourselves covered in blood with the murder weapons in our hands. Do we seek redemption and to change our ways, or just figure out who we need to kill next in order to be able to keep on looting? And seriously, how well do we expect THAT to end?

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At this point, who the hell is still using Facebook? Guess the same people still using Himmler Bodywash and Pinochet Breath Mints.


" Critics Warn FTC’s Paltry $5 Billion Fine for FaceBook ‘Leaves the Public Vulnerable’ to Future Abuse by Tech Giant"

I guess paltry depends on perspective. As the article mentions somewhere around para 9, the $5 billion represent 25% of the companies 2018 net after tax earnings. If i got a fine that would take a quarter of of my earnings i would not call it paltry.

Getting into numbers that are very squishy. How much do they pay on what net income? I seriously doubt their eventual fine, after negotiating, or going to one or more courts, will end up being 25%.
This fine paying instead of repair or revamping is also a regular occurrence with mines, oil operations and pipelines, and tainted products.

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Didn’t get into tax paid just got the total revenue of $55B and net profit of $22B.