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Happened in 2008, revealed today.
Imagine what kind of secret programs are being pushed today that we will hear about in 2020, or longer. I have some guesses but they are so absurd I would be laughed off hn.
What happens next? Do the feds forcibly shut down the company?
It 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.
Yahoo would have to take $90M/year charge and either give a reason to the SEC or just declare it classified which would be as good as saying the NSA is taking it.
There's no reason to believe the daily fine wouldn't continuously increase, or that executives wouldn't eventually be put in jail for contempt.
And keep in mind you can be held in jail indefinitely for contempt of court, as long as you remain in noncompliance.
Earlier quoted context omitted.
On the face of it sounds like a hard to comply with rule. If you worked high-up within a publicly traded company, you'd have to tell no one anything about your job.
You simply couldn't talk about things that are relevant to your share price. "My boss was an asshole today." Fine. "We're about to get bought out for $x million." Very much not fine.
Well if your boss was an asshole today, because you can't make any sales that's something you can say as a realtor in a private company, but can't say as the guy trying to close XXX,000 sized seat contracts at a public company because your inability to perform is going to be reflected in the quarterly reports.
> "We're about to get bought out for $x million." Very much not fine.
Here's another example. If your company is in the process of a public merger, and you're publicly involved in the M&A process you can't throw a wild party the day before the public announcement of its success, because someone will inevitably ask "why are you guys celebrating?"
$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 the…
But you make a good point. There was a real life human (or humans) on the creating end of that number.
Do you think they believe they're actually fighting for American Freedoms and Security?
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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 hundred…
On the face of it sounds like a hard to comply with rule. If you worked high-up within a publicly traded company, you'd have to tell no one anything about your job.
Earlier quoted context omitted.
I have a question: Can the NSA/the coercing party be reverse fined at $500k/day by Yahoo (i.e by an organization) for some reasons in similar vein?
Probably... but in order to bring any lawsuit against the US government (presuming they don't pay... which they wouldn't), the US government has to grant you permission to sue them. So chances are that debt would go nowhere.
If they did, it would just come out of the pockets of taxpayers anyways.
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"As I see it, eventually Yahoo would rack up such a bill that they couldn't afford it, and any collection of the fee by the government would force Yahoo to close its doors." Yahoo is about to get $20bn+ in cash in about 2 weeks, so they can hold out these fines for about 80,000 days.
Fair enough. But it still stands, couldn't Yahoo ignore it? What's the worst thing the government could do to Yahoo that would go unnoticed by the public, if Yahoo didn't comply?
They are either in bed with NSA or will be very soon. I laugh how gullible some people are.
"But they owner told me that they will stand up to US government with 3M seed round guys!"