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Last week, we learned from the New York Times that in order to acquire the Internet communications of Yahoo’s customers, the U.S. government was willing to impose a $250,000 per day fine for the company’s noncompliance.
New details brought to light by the the attorneys involved in the 2008 legal action, however, reveal the situation to be much worse. The financial consequences Yahoo faced for standing up to the National Security Agency (NSA) were nothing less than a loaded gun at the side of its head.
“Imagine a well-known, publicly traded company suddenly ceased operating, and the CEO couldn’t explain why,” an article on Yahoo! Finance read Tuesday morning. “Picture shareholders losing everything, with zero warning.” According to a recently unsealed motion filed by attorneys representing the U.S. spy agency, that scenario almost certainly describes Yahoo’s fate, had they not agreed to follow the government’s orders precisely.
See, the $250,000 per day figure cited by the Times isn’t the whole story. According to attorneys Marc Zwillinger and Jacob Sommer, who represented Yahoo in the secret spy court, the coercive fine would have actually doubled each week, quickly reaching an unprecedented figure.
Doubling weekly, the amount of Yahoo’s fine becomes astronomical. Of course, the company would have been dead relatively quick—its 14,000 employees out of a job.
Here’s how much money the government would have made, had they continued somehow collecting the penalty against Yahoo:
After less than two months of fining Yahoo, the NSA could have purchased the most expensive painting in the world: One of five 19th century masterpieces called “The Card Players,” by Paul Cézanne, which sold in 2011 to the Royal Family of Qatar for an estimated $259 million.
originally posted by: boncho
That's BS. If I was the CEO of the company I would have let them fine us. How are you going to explain a fine so large it puts a major brand like that out of business? You can't. Whether or not there are NDAs or it's classified or it's hidden up a Kardashian bum bum, it is getting out into the open.
There would be too many rumours and whispers and most of all, people would be demanding to know "what the ef just happened?"
They should have let the NSA try and bankrupt the company. It would have made for great popcorn news.
No way in hell that would go down without a major, major problem via public spotlight. Almost as big as the Bernie Maddoff.