So that's the price of having principles.
In general people/entities with principles and morals have a higher price to pay. For them it's worth it.
Feds Threatened to Fine Yahoo $250K Daily for Not Complying with NSA's PRISM
21–30 of 246 posts
Re: Feds Threatened to Fine Yahoo $250K Daily for Not Complying with NSA's PRISM
#22Earlier quoted context omitted.
Was he actually guilty of insider trading?
I'm not a lawyer so nothing I say below means anything. From what I can tell - yes - he was guilty of insider trading by the letter of the law. Sharing insider information as CEO about the future of the company with shareholders is by definition insider trading. Despite circumstances, warning that contracts were being gutted is still illegal.
Is it because it was made to the shareholders? If it had instead been announced publically would it have been considered insider trading?
Re: Feds Threatened to Fine Yahoo $250K Daily for Not Complying with NSA's PRISM
#23Weren't these requests, which Yahoo objected to, intended to stay secret, by the wishes of the government? Consider if Yahoo refused to honor the requests, and began accruing the fines. Presumably, if they didn't pay the huge bill for their fines, what would happen? Surely, $250k/day would rack up fast... As I see it, eventually Yahoo would rack up such a bill that they couldn't afford it, and any collection of the f…
> Presumably, if they didn't pay the huge bill for their fines, what would happen? It's easy to think of shady secret things the government could do to coerce Yahoo! in to either complying or paying. But at the end of the day, there's always people with guns.
But at the end of the day, there's always people with guns.
I think the point of the OP is that "people with guns" get to be pretty hard to hide at larger scales.
Re: Feds Threatened to Fine Yahoo $250K Daily for Not Complying with NSA's PRISM
#24Here's a serious question - is the fine secret too? If Yahoo didn't comply and were slapped with a fine, could Yahoo object and table the fine in a court?
That would be an awesome item in the quarterly SEC filing: REDACTED $23M
Re: Feds Threatened to Fine Yahoo $250K Daily for Not Complying with NSA's PRISM
#25What sloppy reporting.
"The company disputed the initial order in 2007 because it deemed the bulk demand for email metadata to be unconstitutionally broad."
That is neither what the government demanded nor the reason Yahoo appealed. How did the reporter get this so wrong?
Re: Feds Threatened to Fine Yahoo $250K Daily for Not Complying with NSA's PRISM
#26It would have been very interesting if Yahoo had simply said "do it."
A few months later the government would want to demand Yahoo pay them millions of dollars........ but be entirely incapable of explaining WHY they were owed this money at all. That would have been a very interesting event.
Re: Feds Threatened to Fine Yahoo $250K Daily for Not Complying with NSA's PRISM
#27I wish there was a way to post anon here. I create a new id every now and then and post but no one sees the posting because it's new...
I wish more people would be outraged by where the u.s. Is going and just leave. If you're educated, have desirable skills, you can just come to Europe. If you think you can change what's happening in the u.s. I do not agree with you. You will lose to the political class. They have 100% of their time to focus on restraining you while you have to focus on building your business.
The u.s. has become a force for evil in the world. It has been at war for almost the entire time of its existence. In the past Americans were protected from that reality but now the u.s. seems to be even at war with its citizens and businesses.
If you don't like what's happening in the u.s. you can quit your company you're building and become a politician, or you can just take your skills and knowledge to someplace different. But don't forget to continue filing your u.s. taxes.
Re: Feds Threatened to Fine Yahoo $250K Daily for Not Complying with NSA's PRISM
#28$250K/day -- someone had to come up with that number.
Was it some high level official? An intern?
I can imagine this dialogue taking place:
----
(Two bureaucrat monkeys. They just got back from lunch from cafeteria at Ft. Meade. Their tummies are bit heavy with greasy hamburgers. Settling in to finish their day before 2pm. One last thing needs to be done -- deciding on this PRISM non-compliance issue)
M0: What if they don't comply?
M1: We'll punish them!
M0: How?
M1: Well...we'll make them pay.
M0: How much?
M1: [Puts pinkie finger to the corner of his mouth] Two hundred and fifty thousand dollars a day!
M0: Great idea, M1
(They wrap up before clock hits 2pm. Get in their cars. One goes to pick up kids from soccer practice. Other drives straight home, to his bachelor-pad apartment in College Park, MD).
----
Wonder what and how the people who generated and viewed this documents feel about them being on the front page of news sites. I can only hope they feel a tiny bit violated and betrayed. Kind of like when someone breaks in and steals your things. Or violates your privacy.
Re: Feds Threatened to Fine Yahoo $250K Daily for Not Complying with NSA's PRISM
#29Earlier quoted context omitted.
I'm not a lawyer so nothing I say below means anything. From what I can tell - yes - he was guilty of insider trading by the letter of the law. Sharing insider information as CEO about the future of the company with shareholders is by definition insider trading. Despite circumstances, warning that contracts were being gutted is still illegal.
Is it because it was made to the shareholders? If it had instead been announced publically would it have been considered insider trading?
No, sharing information publicly is never insider trading. What makes it insider trading is for one group to have access to information about a company that another group does not have. I believe, from the training I've had, that the standard is usually 48 hours after public disclosure of information before you are allowed to act on it.
Of course, insider trading laws are broken on a minute-to-minute basis by hundreds of corporate executives and others. If you want to nail someone for insider trading, and they have a management position at a company, you could do it fairly easily. White collar crime is very rarely even investigated, let alone prosecuted or punished, though.
Re: Feds Threatened to Fine Yahoo $250K Daily for Not Complying with NSA's PRISM
#30Weren't these requests, which Yahoo objected to, intended to stay secret, by the wishes of the government? Consider if Yahoo refused to honor the requests, and began accruing the fines. Presumably, if they didn't pay the huge bill for their fines, what would happen? Surely, $250k/day would rack up fast... As I see it, eventually Yahoo would rack up such a bill that they couldn't afford it, and any collection of the f…
Over the course of a year, that's equivalent to employing 300 engineers. For a company the size of Yahoo, that would be pretty easy to hide.