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Jimmy Wahlsteen: Halifaxation

203
Dark_Falcon11/15/2011 10:20:53 pm PST

re: #201 sagehen

They already have more rights than flesh & blood people — they can’t be thrown in prison (or executed) no matter what they do, their financial liabilities for even the most egregious tort are limited, their officers can asset-strip when a bankruptcy seems imminent and there’s no recourse by creditors…

It’s only by an act of government that they can exist at all; they’re forbidden by law to have a conscience (obligatory sociopathy), in that they’re required to put profit-to-their-stockholders above all other considerations.

The reason corporations are required to put shareholder value first is to prevent shenanigans. It would be easy to use the idea of “doing right” to hide unproductive investments that mostly served to enrich the company’s executives. That still happens sometimes, but changing the rule would make it worse.

Goodnight, all.