NoahFeb 22, 2023
The Mormon Church is being fined 5 million because it hid a 32 billion dollar investment fund. This was not accidental. The SEC proved that both the investment firm and church went to great lengths to knowingly hide these assets. For the folks playing along at home, that’s a fine of 0.016% on the investment. Imagine lying on your taxes and you hid an extra $100K offshore and the IRS said “No sweat, pay us $15.63.” If there are no other repercussions, that’s not a fine, that’s encouragement.
Show threadPhDog 🇮🇪Feb 22, 2023

@monkeyninja

David Graeber got an economist to admit that he was not aware of single case where a company was fined more than the profit it turned breaking the law. He summarized this as the government saying: "Do all the crime you want, but if we catch you, you have to give us a cut."

Show threadRob ShearerFeb 26, 2023
@dogfox @monkeyninja @kevin This confidently asserted about a $5 million fine for a disclosure violation that produced no profit. 🙄
Show threadKevin P. FlemingFeb 26, 2023
@rvcx @dogfox @monkeyninja This confidently asserted that the proper disclosure could not possibly have affected the values of the assets in the portfolio.
Show threadRob ShearerFeb 26, 2023
@kevin @dogfox @monkeyninja Nobody has alleged that: it is a conspiracy theory you have invented from whole cloth to reinforce some arbitrary political point. (In this case the allegation makes *particularly* little sense.)
Show threadRob ShearerFeb 26, 2023
@kevin And I have to point out, Kevin, that your indulgence of such deceptive, content-free (and often harmful) conspiracy theories when—and only when—they paint “the enemy” in a poor light has become a disappointing pattern for you.
Show threadKevin P. Fleming
@rvcx Good to know you feel that way.
Feb 26, 2023 at 10:01pmWeb