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Comment by Cthulhu_ | Hacker News Reader

The $4M is a slap on the wrist, but if there's evidence that it was done on purpose, and the deleted data is evidence for a bigger case, they'd be in much bigger trouble still.

But, innocent until proven guilty; if there's no indication of any missing evidence, it'll stay at the failure to retain data fine.

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I think corporations of "too big to fail" stature should have different legal protections than what are offered to humans.

Innocent until proven guilty is not quite fair to apply to corporations that get bailed out by taxpayers when the policemen are driving bicycles trying to enforce the speed limit on a highway full of McLarens.

When a company has positioned itself to be a critical organ of society, it should be required to function properly. The rules of nature do not forgive a well meaning hare that didn't intend to be eaten by a lion.

The rules of nature do not forgive a well meaning hare that didn't intend to be eaten by a lion.

I love this. Consider yourself quoted.

Thank you for the kind words.

I am of the position that no company should be allowed to become too big to fail. Or, if one does, it should be nationalized.

If its service is crucial and no other company can replace it, then there is a high risk that it makes use of its position by charging an arm and a leg for essential services.

> Worse still, the stuffup meant that it couldn't produce evidence that that the SEC and others subpoenaed in their investigations. "In at least 12 civil securities-related regulatory investigations, eight of which were conducted by the Commission staff, JPMorgan received subpoenas and document requests for communications which could not be retrieved or produced because they had been deleted permanently," the SEC says.

That would seem to be an indication of missing evidence

No one went to jail for the 2008 crisis, and most of the regulatory bodies are private corporations masquerading as a public entity. To add salt to the wound, the SEC is very discerning as to when to enforce the law

It doesn’t matter whether or not the above paragraph is reality, because masses perceive it as reality, and trust in public institutions continues to dive. If confidence isn’t restored soon, then things might start to destabilize

> if there's evidence that it was done on purpose

Nobody (who isn't a moron) is going to send an email about intentionally doing this, or talk about it with someone who wouldn't also be implicated if discovered. If you saw everything, kept careful notes, and decided to become a whistleblower, your career would be destroyed and your life might even be in danger.

> In at least twelve civil securities-related regulatory investigations, eight of which were conducted by the Commission staff, JPMorgan received subpoenas and document requests for communications which could not be retrieved or produced because they had been deleted permanently.

That is proof of missing evidence.

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