Why Facebook’s new ‘privacy cop’ is doomed to fail

Giving an outside assessor a role in monitoring Facebook’s privacy practices sounds like a great idea, but it’s unlikely to work miracles. The Federal Trade Commission issued its largest-ever fine, of $5 billion, to Facebook for violating a 2011 privacy settlement in late July. But the amount is only about a month’s worth of the company’s revenue, suggesting that the fine, while seeming large, is, in fact, rather modest. Read Full Story