this post was submitted on 21 Nov 2023
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I always wondered what recourse these governments have to enforce these fines.
It’s not like these companies are just refusing to pay their fines, as this article falsely implies. There are ongoing legal disputes. Most of Meta’s “unpaid” fines, for example, are from just six months ago and there are legitimate disagreements on them that are subject to appeal.
Hmm, with some lawsuits going years and years, seems like postponing decisions could save a lot because of the time value of money. Maybe one could make a law to account for a standard opportunity cost per industry to increase the fine amount from the date committed to the date paid.
The specifics vary depending on exactly what is owed to whom and why, but in many of these cases the amount owed is subject to interest if, ultimately, it must be paid, or the money has actually already been provided but is held in escrow.