they are valuable b/c they built something billions of people use. I suspect the revenue loss from every one of these FTC recommendations being implemented would not have a material impact on either of the businesses you mentioned
I think a lot people probably experienced or witnessed petty theft or assault, and figured those same people might commit murder at a high rate. When you have a personal experience like that, or multiple, the natural reaction is to apply that experience to another situation.
It actually says a lot about SF that people would jump to that conclusion. SF is not in a good place. It has deteriorated over the past 2 decades. But it's not why Bob Lee is dead.
> the general presumption that Big Government will protect you from yourself is extended just another smidge
What would be a better alternative? Asking a top 20 bank for their data room whenever I need to deposit something over $250k?
At some point, there needs to be some level of trust with simply putting money in a place and not a single cent disappearing. That should be a reasonable expectation in any functional society.
Anything otherwise would be highly inefficient, creating unnecessary work that produces little to no value.
yep, it's a solvency issue. The minute they tried to offload the bonds at a price lower than they paid for them (which seemed like the right thing to do to fix the liquidity issue), they were effectively in a hole and even if they waited 10 years later, would not have been able to cover the deposits.
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