A corporation is a fiction that relieves man of responsibility to his neighbor. It permits him to do in the name of a corporation what he would not do in his own name. It shields him from from his human conscience.
The best way to get management's attention is to punish management directly. Why shouldn't the the corporation's leaders be as responsible for what he does on the job as he is responsible for what he does driving home from the job. If he runs someone down , we do not permit him to blame the car, nor should he be permitted to lay responsibility for wrongdoing of his company on the corporate machine
When the CEO of a corporation and the Board of Director's knows they will suffer personally then corporate crime will come under control. When corporate heads are charged with only one responsibility to make a profit---- we guarantee crime!
If the battle against Wall Street corruption were to fine based on a percentage of the firms net worth, we would have fewer crimes.
The President of a Corporation would not walk over to his neighbor's house and sell him a worthless IOU, knowing full well that it will never be paid, but yet his firm is doing that daily to strangers. If he did that to his neighbor, he would be jailed, but under corporate name, not so.
Corporate law needs to change in this country that is what Occupy Wall Street is saying so the Faux news channel calling the demonstrator's scum is really disgusting. They know something is wrong. Clarence Darrow said "Justice cannot be defined, it is something that can be felt. But the feeling of justice requires the wrong to be righted."
By the way most of this came from Gerry Spence in his book "Justice For None" published in 1990
3 comments:
I like Gerry Spence - I miss seeing him on TV whenever there was a high profile case. That said, I don't think his argument for lifting the corporate veil and extending liability applies here.
There are plenty of laws on the books to prosecute corrupt actors in corporations. What is missing is ready proof or criminal activity in the financial meltdown. Our federal laws are prosecutor-friendly. It's not that we don't have the tools to prosecute genuine bad guys.
The many acts that contributed to 2008 generally came with plausible deniability. The obvious cases of criminal misconduct have been prosecuted or will be.
The cognitive dissonance of your breathtaking stupidity is amazing.
Our current financial condition is due to a combination of multiple maladies mostly a result of the central planning scheming executed by your Progressive brethren. Where is you proof of malfeasance? You act like the awarding of loans to those who did not deserve them and the irresponsibility of those who accepted them had nothing to do with the problem.
You vent your anger, as always, at the job creators. You post insults to corporations, as if making money is a sin, as if corporations were anything but people trying to make money by doing something.
How, you fool (fool defined as someone who looks at a serious problem and focuses on exactly the wrong cause and cure) do you expect we are going to get out of this mess? And what is the origin? The cure is to make money, lots and lots of money, generating success for everyone. The origin is the entitlement mentality created by your Progressive brethren who have corrupted this country, who have made success a vice.
Do you even think, or just emote?
As to the previous post by the Wall Street guy, all he was saying was...fine demonize us, get us fired for basically doing our job and creating a capital market..OK, then I'm coming after yours with the same energy...I'll work, I won't sit on the street and complain that my college education is worthless...I'll work.
And you have a problem with this?
As Usual Jim, you deflect, you change the argument you dodge, you make straw dogs.Here is a fact The awarding of loans to those who don't qualify is a crime, rating aaa when you know it's junk is a crime. Making money is no sin and I and no one else said so, where do you get that, I and Baxter would love to have more millionaires, stop that stupid response because it was never made by me or Baxter. Success is not a vice, wrongdoing is wrongdoing tho it's that simple Jim. If you double charge a patient or overcharge a patient's bill it's called cheating, and sometimes that is elevated to a crime. No one can tell you how many tests you can run on a patient we relie on your honesty and not cheat medicare or the insurance company, so at the base of capitalism is honesty. Just answer one simple question and do not shirk it.
Here it is: Why shouldn't the the corporation's leaders be as responsible for what he does on the job as he is responsible for what he does driving home from the job? If corporations just pass the fine on to the consumers then there will never be a solution.
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