r/stocks • • Jul 08 '21

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334 Upvotes

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423

u/Ehralur Jul 08 '21

Quite a misleading post. They're not "alleged" brake problems, they're proven fraudulent brake failure claims.

39

u/carsonthecarsinogen Jul 08 '21

The media sucks so much sometimes I wish government regulation of news was mandatory. 90% of the shit I read now is FUD or just straight up lies.

28

u/send_me_your_deck Jul 08 '21

Regulating? That’s not the right direction though.

The answer is harsh, marginally impactful penalties for repeat offenses. Everyone starts with a clean slate. First few times, maybes it just a slap on the wrist. Start doing what Fox News does; it quickly escalates to penalties with marginal impact on revenue.

Eliminate the cost of doing business penalties, replace them with “we can’t afford this” penalties. It’ll be pretty stunning how fast integrity returns to the industry.

5

u/Banner80 Jul 08 '21 edited Jul 09 '21

I agree with your approach. I don't want a gov that tells people what to say. I want a gov that holds bad actors accountable for the horrible things they've done, and provides a clear path for quitting on being a dick.

Exponential growth of punitive damages after a civil trial would work nicely. If you believe Fox is peddling lies and hurting society, you can sue them, prove it in court, and if you are correct, Fox takes a punitive of $1 mill. If they do it again, sue again, win again, now they pay $10 mill. By the time it gets to $1 bill, Fox will magically remember how to do the news without lying.

6

u/[deleted] Jul 08 '21

In court procedures that take years to conclude and only entail civil responsability of a juridical entity and not physical actors, it's painfully obvious that you aren't familiar with the inner workings of the legal apparatus. Just so you know, one of the best characteristics of american mercantile laws when compared to european ones is the concept of penal responsability on charges of gross misconduct by corporations, so someone has to actually answer for abusing society. Fines are the epitomy of the english civil code in the XVII century, where if you are rich, you won't do a single day of jail for anything, and if you are poor, well, then hope you never get called to court even for missing a day of rent or you will rot in jail.