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It seems like EU's policy of retribution on Big Tech for US fining European banks.


A good faith interpretation would be that the US has the most advanced system for financial regulation, while the EU is better (or emphasises) antitrust and privacy regulation.

Both seem to perfectly consistent with New York being the world's premier financial center and Europe being somewhat renown for stronger consumer protection.

(which leaves Volkswagen as a terribly embarrassing example of regulatory capture in Germany)

To be fair, roundup has a magical characteristic in only starting to cause cancer once Monsanto was no longer a US company.

Some German states own parts of VW and clearly would prefer to believe it to be honest mistake VW has learned from. No one should be surprised that the Deutsche Bank are criminals either. I dont think those cases are anything more then corruption preventing proper prosecution. Big corporations simply get away with a lot of stuff if its politically inconvenient. I mean the HSBC laundered billions for drug cartels. Heckler and Koch breached weapon embargos. Non of that is in any way a grey area but plain and simply criminal conspiracy.

> A good faith interpretation would be that the US has the most advanced system for financial regulation

One only has to take a peek at the HSBC cartel scandals to know that's patently bullshit.


HSBC is a British bank. Yet, skimming https://en.wikipedia.org/wiki/HSBC#Controversies it appears almost all investigations and fines were the result of SEC and other US investigations.

Watch the HSBC episode of 'Dirty Money' on Netflix. They got away with a tiny slap on the wrist for absolutely glaring circumvention of anti money laundering rules. The best way I've heard it said is America has some of the strongest financial regulations in the world, there's just laughably weak enforcement of those regulations.

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