re: #89 Wendell Zurkowitz ((slave to the waffle light))

Remember the point of a limited liability company: investors are only liable for losses up to the extent of the share they own. If a company like that goes down in flames and its losses exceed the equity of the company, they lose their stock but still keep their estates and yachts and Cayman Island accounts.

That encourages them to suck as much profit out of the company as possible and put it beyond the reach of creditors.

Corporations are legal persons, but they are not people…Mitt Romney of all legal persons, er, I mean, people, should know that.

They exist because we have created a body of laws that allow them to exist in that form.

It’s not the LLC form as such
It’s corporations in general
Any one goes belly up and it’s the unpaid creditors left holding the bag first and foremost