FTC fining FB c.7.8K times UK's ICO for same data breeches Shares rise

[David Dewhurst]

So FB are leaking that they've negotiated a fine of up to $5 billion. (Please can we negotiate our fines?) They have c. $75 in cash  The implication that they will now not face significant regulation contributes to the price surge. Clearly the US authorities are pretty ineffective. Our ICO raises a useful £30+ million a year from registrations under the data protection act. It's maximum permitted fine (which it charged FB) is £500,000. So a moderately good protection racket - for the data collectors, though not the providers aka the people.

How the         we get UK regulation on tax avoidance or owt else to serve the people is problematic while we have corporate capture of legislatures. 

Business Insider - 'a joke on all of us'

New York Times

Guardian (not toally getting it)

In other news the Competition and Markets Authority's press release today announces that after detailed investigation they've reached the no brainer conclusion that Sainsbury's and Asda shouldn't merge. Not sure how much they were helped by advice from Tesco et.al. CMA only gets £68.74 million a year from the taxpayers.