Comment on Europe’s $24 Trillion Breakup With Visa and Mastercard Has Begun

• lightnsfw@reddthat.com ⁨4⁩ ⁨hours⁩ ago

  So then you do understand how having our transactions controlled by the government is a bad thing?

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  • luciferofastora@feddit.org ⁨3⁩ ⁨hours⁩ ago

    Is it worse than private companies leveraging their dominance and effective monopoly to impose demands on all who depend on the critical infrastructure they provide, sidestepping all legislative processes and accountability to the public?

    Besides, a corrupt government can just as well abuse regulatory powers to impose its will on private companies, since it doesn’t have to observe due process. A sane government, however, will have less power to force a private company to do business it doesn’t want to.

    Privatisation is no protection against corruption, but a hurdle for public oversight. There are sectors where that is acceptable and the flexibility it provides may be worthwhile, but infrastructure isn’t one of them.

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    • lightnsfw@reddthat.com ⁨2⁩ ⁨hours⁩ ago

      A corrupt government can also be bought off by the companies to not fuck with things so that they at least remain functional.

      In an ideal world, yes I’d rather these things be regulated in a way that the companies are accountable but that is not the world we live in. Moving this to the public sector now would just put even more power into the hands of our horrible government. Better to have everything split up so all the greedy malicious assholes are looking out for themselves than to have it all in the hands of one group who will do whatever they want with nothing to impede them. Regardless of consequences. Fix the government first , then give them control. You can’t legislate based off the idea that it will only be well intentioned responsible adults running things.

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  • Jakeroxs@sh.itjust.works ⁨2⁩ ⁨hours⁩ ago

    Only if the government isnt actually working for the people like it’s intended to.

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    • lightnsfw@reddthat.com ⁨2⁩ ⁨hours⁩ ago

      Which is the situation we’re dealing with here.

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  • UnderpantsWeevil@lemmy.world ⁨4⁩ ⁨hours⁩ ago

    As opposed to a private for-profit company run by friends of the people in government?

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    • lightnsfw@reddthat.com ⁨4⁩ ⁨hours⁩ ago

      At least the private company would act in their own interest to preserve profits. Trump will gladly blow the whole thing up regardless of consequences just to feed his ego. Like with the tariffs.

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      • GregorGizeh@lemmy.zip ⁨3⁩ ⁨hours⁩ ago

        Not an american but personally i would most definitely prefer an absolute fuckwad with little self control in charge than an evil mastermind entity hellbent on squeezing me for every cent.

        The former is too stupid not to ruin his lever of power, which would cause the system to decentralize and/or contribute to said fuckwad’s downfall. The latter employs a huge amount of people specifically trained to maintain and increase the amount of profits extracted while maintaining their stranglehold.

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      • Alaknar@sopuli.xyz ⁨2⁩ ⁨hours⁩ ago

        At least the private company would act in their own interest to preserve profits

        Such as sharing ALL of its customer data with the government in exchange for subsidies? Which effectively means having a government entity in control of the data but with zero oversight or control from the public?

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