your comparison with phone scammers is entirely on point; there are almost no consequences for said scams, because who's gonna do anything about it?
They do some stuff to make it more difficult. Can you imagine how much more prevalent it would be if it was legal? I don't think people really realize how much something simply being illegal (even if hard to enforce) can cut down on it.
your comparison with phone scammers is entirely on point; there are almost no consequences for said scams, because who's gonna do anything about it?
They do some stuff to make it more difficult. Can you imagine how much more prevalent it would be if it was legal? I don't think people really realize how much something simply being illegal (even if hard to enforce) can cut down on it.
It's worth pointing out we have an actual historical equivalent in both massive depression/recession causing massive market crashes in the United States. Less than a decade after the repeal of Glass-Steagall we had the 2008 housing collapse because banks started mixing business with pleasure again (But the Glass-Steagall act restricted banks Too much! Yeah, well, there was a reason for that, and it was a little thing called the 1929 market crash)
We got along for nearly 80 years without some straight up bullshit risky behavior causing massive economic damage, then less than 10 years after the 1999 repeal of G-S subprime mortgages offered to lenders who had no means of actually paying them get repackaged as AAA financial instruments that caused a nearly global economic recession.
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They do some stuff to make it more difficult. Can you imagine how much more prevalent it would be if it was legal? I don't think people really realize how much something simply being illegal (even if hard to enforce) can cut down on it.
It's worth pointing out we have an actual historical equivalent in both massive depression/recession causing massive market crashes in the United States. Less than a decade after the repeal of Glass-Steagall we had the 2008 housing collapse because banks started mixing business with pleasure again (But the Glass-Steagall act restricted banks Too much! Yeah, well, there was a reason for that, and it was a little thing called the 1929 market crash)
We got along for nearly 80 years without some straight up bullshit risky behavior causing massive economic damage, then less than 10 years after the 1999 repeal of G-S subprime mortgages offered to lenders who had no means of actually paying them get repackaged as AAA financial instruments that caused a nearly global economic recession.