So isn't the solution here to up the penalties, specifically with codified minimums ($X per leaked phone number, $Y for leaked SSN, etc)? The corporate death penalty would end up hurting the consumers significantly more than this method, which would primarily hurt the share/debt-holders, which is the intent. Corporate dissolution seems like a concern when fraud or malfeasance is specifically involved.
For context, I'm very likely in this breach, but it wouldn't make me any happier to hear T-Mobile was shut-down tomorrow.
No that wasn’t the point at all. Corporate death penalty was a completely overblown analogy by someone else. What this is about is that a manager / CEO / shareholder can be held personally accountable with punishment that could include jail time. As a deterrent.
Right now only the company is accountable as if it’s some sort of living creature, and the penalty is always money. Which as you aptly put, they have in abundance!
And a corporate dissolution isn't the outcome. The outcome is that T-Mobile goes into bankruptcy, with its customers as the debtors. The outcome of that is that a bankruptcy court divides up the assets to maximize payout to you.
Most likely, this means:
- T-Mobile, as an entity continues to exist, as-is..
- Shareholder value is wiped out...
- And handed to customers, as the customers become shareholders.
T-Mobile has a 180B market cap, which probably means you acquire stock worth a grand or so.
For context, I'm very likely in this breach, but it wouldn't make me any happier to hear T-Mobile was shut-down tomorrow.