Facebook Plunges After FTC Probe, German Sanctions Headlines

The Federal Trade Commission has confirmed that it has opened a nonpublic probe into Facebook's privacy practices, saying it's committed to protecting consumers' privacy and data and will hold accountable companies that abuse the FTC guidelines.

In a statement, the FTC said it takes "very seriously" recent press reports raising concerns about the data security at the social media giant, according to Bloomberg.

And with that, the public is getting an important early clue into the shape of the federal response to revelations about Facebook's handling (abuse?) of user data for commercial purposes.

The FTC investigation, which was reported by Bloomberg last week, is focused on whether Facebook violated terms of a 2011 consent decree over its handling of personal user data.

Additionally, German Justice Minister Barley said Monday in Berlin that Facebook's data practices couldn't be tolerated and that sanctions against the company should be levied at the EU level. He added that the company needs to be more transparent about its algorithms.

Facebook shares, which plunged into correction territory last week, collapsed further on the news.

Facebook

 

And it's not helping that Mark Zuckerberg is dumping his shares into this freefall...

Comments

Arnold Shitonya Serfs Mon, 03/26/2018 - 10:55 Permalink

Just tweeted the article./s

CFRA Research analyst Scott Kessler predicted that Google could face at least one more fine of $2 billion or more in 2018. He noted that the European Union is still looking at Google's online advertising system AdSense and its Android mobile operating system.

https://www.investors.com/news/technology/fang-stocks-will-they-show-th…

In reply to by Shitonya Serfs

Adolph.H. Agent P Mon, 03/26/2018 - 11:13 Permalink

About fucking time...

Farcebook is paving the way for the second shoe to drop, namely Google. And when these 2 cool internet companies will fall this will be the turn of Amazon to be brought to the woodshed. 

The whole "cool internet company" scheme brought up courtesy alphabet soup agencies is about to unravel in the eyes of the public. Even if everybody knew so far they were the intelligence agencies sweat shops, the public was in a great measure unaware. 

No longer... light is really the best disinfectant. 

https://www.ponzied.com

In reply to by Agent P

NJ Tax Pro Adolph.H. Mon, 03/26/2018 - 12:25 Permalink

Ha, you are giving the public too much credit.   Now back to posting where we are and pics of our kids....  The sheeple are too dumb to realize reality, why do you think our government debt just went to $21 trillion and most don't care?

In reply to by Adolph.H.

Aerows Adolph.H. Mon, 03/26/2018 - 16:00 Permalink

intelligence agencies sweat shops

At least McCabe got canned.  If he, Comey and both Clintons got to sit in a jail cell for the rest of their lives, I honestly believe the universe would breathe a sigh of relief that the arc of justice finally got around to doing the job.

In reply to by Adolph.H.

GUS100CORRINA Emergency Ward Mon, 03/26/2018 - 11:20 Permalink

Facebook Plunges After FTC Probe, German Sanctions Headlines

My response: ROFLMAO!!!! Two Points to Share repeated from article titled: "Dumb F--ks": Julian Assange Reminds Us What Mark Zuckerberg Thinks Of Facebook Users"

1. Place all of the SOCIAL MEDIA companies (Internet Fringe Operators like Google, FB, etc.) under control of FTC (It's happening now as evidenced by recent articles and the declining stock prices!) ** SEE, I TOLD YOU SO!!! **

2. INTERNET BILL OF RIGHTS!!! **** VERY IMPORTANT ****

Both actions above will address concerns with both CITIZEN INFORMATION PRIVACY and CENSORSHIP. ** GEORGE "SHITHEAD" SOROS HATES THIS IDEA **

Both have to happen ASAP this year!

LET JUSTICE TAKE ITS DUE COURSE AS PRESCRIBED BY US LEGAL CODES.

Going forward, WE THE PEOPLE need to VOTE OUT OF OFFICE every single DEMOCRAT and RINO in the upcoming 2018 midterm elections. ZUCK2020 WILL NEVER SEE THE LIGHT OF DAY!!!

Choose wisely America for the days are filled with EVIL.
 

In reply to by Emergency Ward

pigpen Shitonya Serfs Mon, 03/26/2018 - 11:34 Permalink

Shitonya, agreed govt won't do anything to their digtal advertising goobook surveillance censorship monopolies.

Only way to hurt the goobook is to destroy the economics of digital advertising.

Citizens need to adopt brave browser or similar adblocker.

Brave blocks advertising malware and tracking by DEFAULT on any device and operating system rendering digital advertising model useless.

Whoever controls the browser controls the money.

What is value of advertising if an ad can't be served, viewed or tracked around the web?

Citizens take down these evil surveillance censorship companies by cutting off their economic oxygen.

Brave is a simple solution for the masses. Set it and forget it.

Cheers,

Pigpen

In reply to by Shitonya Serfs

takeaction saldulilem Mon, 03/26/2018 - 11:02 Permalink

I don't play these markets...But 2 weeks ago you can look at my comment.  I said I could pick 10 companies...and Short them...and you will be a huge winner.  Facebook was one of them.  You are not too late...Everybody around me is no longer using Facebook...the Fad is over...it is a walking "Myspace".  There is no coming back...Myself as an advertiser I am pulling 70% of my advertising budget from Facebook this year.   Facebook is DONE.   Kids don't use it...adults are fading fast...it is DONE.  And then with that Zuckerberg "DUMB FUCKS" comment...that just seals the deal for me.  What a prick.

In reply to by saldulilem

rlouis Mon, 03/26/2018 - 10:52 Permalink

It's time for a class action suit against Twitter - the censoring of tweets and slanting of presented views is so grossly obvious it's disgusting.

curbjob FireBrander Mon, 03/26/2018 - 11:10 Permalink

"I've seen that TripAdvisor is deleting posts about negative experiences regarding trips to Mexico; I'm done using TripAdvisor."

.. or you could have fun beating their algorithms;

"The cicadas chirped harmoniously with the sounds of the sicarios automatic gunfire,

Occasionally a stray round would rustle harmlessly through the underbrush.

☆☆☆☆☆ 5 stars. "

In reply to by FireBrander

Cardinal Fang FireBrander Mon, 03/26/2018 - 12:04 Permalink

I get your point about the wider implications of internet bullshit, but...

do you really need other people's reviews of their trip to Mexico to know what a fucking shithole it is?

I say to people why go to Mexico? Mexico is coming to us.

just like did we really need someone to tell us that Facebook is spying on people?

its the interwebz. Your bullshit meter needs to be on full squelch.

In reply to by FireBrander

enf83 Mon, 03/26/2018 - 10:56 Permalink

In the news

Facebook denies keeping record of calls and SMS without your permission
http://enternations.com/thread/613/facebook-denies-keeping-record-calls

This robot that plays basketball can challenge you: http://enternations.com/thread/614/robot-plays-basketball-challenge

Man Kills Himself And His Children Because His Wife Enjoyed Masturbating: http://enternations.com/thread/572/man-kills-wife-enjoyed

 

Airport staff member get punished for being too handsome: http://enternations.com/thread/528/airport-staff-member-punished-handsome

Girlfriend saves her lover’s life by cutting his throat: http://enternations.com/thread/522/girlfriend-saves-lover-cutting-throat

Woman dies after husband uses mortar bomb as sex toy:http://enternations.com/thread/499/woman-dies-after-husband-mortar

Father Joins Son To Rape His Young Daughter:http://enternations.com/thread/445/father-joins-son-young-daughter

Agent P enf83 Mon, 03/26/2018 - 11:06 Permalink

This is just a hunch on my part, but I'm starting to think you have some sort of connection, possibly even a financial interest, with enternations.com.  Perhaps you should spend more time there and considerably less time here, you worthless fucking tool. 

In reply to by enf83

HelloSpencer Mon, 03/26/2018 - 11:00 Permalink

And who will investigate the practices of our beloved government when it comes to the privacy rights of the citizens of this country? Oh yeah, laws are there to prevent everybody else from doing what the government allows itself to do.

ldd Mon, 03/26/2018 - 11:27 Permalink

not just fb. linkedin as well.

turn off sync on your devices and make sure you are not giving access to your personal stuff in all your accounts/emails otherwise they will be able to access ALL your stuff.