09-08-2017, 03:13 PM
(09-08-2017, 12:12 PM)Au165 Wrote: This is a far more serious issue than is being reported, but the Hurricane is dominating the news cycle right now. You are talking about potentially half the countries personal information being compromised. This could be one of the biggest moments in the U.S. financial system in the last 100 years, you are talking about possibly needing a reset of the way we have identified citizens (SS number) for the last 80 years. There are so many moving parts here, but it highlights that no private institution should be holding this much personal information about the citizens of our country. It appears it happened 6 weeks ago and in that time top executives sold off millions in stock before releasing the news. I am guessing Equifax will cease to exist soon, but I have to wonder if any of the credit reporting agencies should anymore.
It almost seems a forgone conclusion that all of the credit monitoring companies will be on capital hill soon to talk through this matter. Some people from Equifax will be going to jail to I am assuming...but not for long of course.
Well you and I agree those executives that sold stock should be punished. I have absolutely no faith in the SEC that they will pursue an appropriate course of action. Probably just make the guys pay a fine of less than the money they made on the sales and make them pinky swear to never do it again.
My penalty would be, find out how much they made on the sale of stock and fine them double that amount.
