Meta is accused of halting a study showing Facebook's negative mental health effects, as it faces a potential £1.05 trillion penalty from four US states over addictiveness claims.
That would be an egregiously stupid loan to make for any bank. These fines are from only 3 states. If they actually succeed, more states are going to line up to collect their pound of flesh. Giving the company a lifeline would only allow more debt to pile up, with zero expectation of return
They’ll just get end up getting subsidies if they have to even pay anything
Subsidies for what? Those fines are like 3/4 of their market cap, there’s zero way to pay that and remain an existing company.
** The banking industry, hiding in the corner looking sheepish **
That would be an egregiously stupid loan to make for any bank. These fines are from only 3 states. If they actually succeed, more states are going to line up to collect their pound of flesh. Giving the company a lifeline would only allow more debt to pile up, with zero expectation of return
I meant the banking industry over leveraging themselves into extinction and then walking it off because if subsidies and bailouts