> It really is wild that the SEC’s official position is now that it is illegal to “use unofficial communications to do things like cut deals, win clients or make trades.” “Conduct their communications about business matters within only official channels”! Imagine if that was really the rule! You can’t have lunch with a client and talk about business, or have beers with your colleagues and gripe about work, because that does not create a searchable archive for the SEC to review.
> Of course the SEC does not entirely mean this. Yet. But in like five years, technology — and the SEC’s interpretation of the rules — will have advanced to the point that banks will get fined if their bankers talk about business with clients on the golf course. “You should have been wearing your bank-issued virtual reality headset and recorded the conversation,” the SEC will say, or I guess “you should have played golf in your bank’s official metaverse, which records all golf conversations for compliance review, rather than on a physical golf course.” The golf course is an unofficial channel! No business allowed!
Generally we have enough proof of politicians doing/saying deplorable things. We don't have enough voters punishing their politicians for misbehaviour.
There are legitimate arguments for open discussions and records, but they can absolutely lead to a stifling of compromise and spur polarization.
Then you will have engineered a world free of compromise. Every meeting becomes posturing, because every proposed concession becomes a liability before it can be considered by the other side. (And you know they're similarly constrained.)
We're now learning the Cuban missile crisis was not resolved through blind boldness, but through the sort of open dialogue only possible over covert channels [1][2].
[1] https://nsarchive.gwu.edu/briefing-book/cuba-cuban-missile-c...
I’m more surprised it’s put in a “this is wild” light. This is in the same direction as declaring gifts you receive from your clients, or reporting the expenses of these lunches you’re having in a business setting, along who were there and how much you paid for them.
My take on this is, if it’s a business act (a task you did on company time, with company money) it shouldn’t be in a grey “we were just chatting” area and you should be able to report to your company what you did and justify the money spent.
I wouldn’t expect full recordings, but at least enough to explain why there was a meeting in the first place and what was discussed. Now I totally understand the SEC wanting more, but they’re probably doing so to move the window and not actually expecting it goes through.
It's a precedent workplace surveillance in total scale just to hunt for (I quote) "shady shit".
1) Use Postini
2) Violate an explicit court order by automatically deleting all your incriminating documents.
3) Blame thousands of unaware individual contributors for not each manually blocking << 1% of the illegal deletions, per directions that went straight to their corporate mailing list filter’s trash can.
4) Cite this case as precedent, and demand whatever slap on the wrist Google is about to receive.
1.5) Buy insurance to pay whatever that fine works out to.
5) Continue breaking the law.
6) GOTO 2 when the next subpoena arrives.