1112
Europe’s $24 Trillion Breakup With Visa and Mastercard Has Begun
(europeanbusinessmagazine.com)
this post was submitted on 10 Feb 2026
1112 points (99.6% liked)
Technology
81026 readers
4985 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related news or articles.
- Be excellent to each other!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, this includes using AI responses and summaries. To ask if your bot can be added please contact a mod.
- Check for duplicates before posting, duplicates may be removed
- Accounts 7 days and younger will have their posts automatically removed.
Approved Bots
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
He's appointing the next Fed chair as we speak. We're a bit past feeling squeamish about what Trump controls.
So then you do understand how having our transactions controlled by the government is a bad thing?
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.
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.