4 ms·
And what about all the goods J&J produces? Research? This is a ludicrous proposal for a profitable and productive company. It's obviously bad for society as a w
by Panzer04 4y ago
And what about all the goods J&J produces? Research? This is a ludicrous proposal for a profitable and productive company. It's obviously bad for society as a whole.
- JumpCrisscross 4y ago> what about all the goods J&J produces? Research? Bankruptcy doesn’t mean liquidation.
- Panzer04 4y agoYou said the company should be disbanded - perhaps I took that to mean something different to what you meant.
- JumpCrisscross 4y ago> the company should be disbanded Sorry, I meant that if one applies many popular theories of how a "corporate death penalty" should work, the company would be liquidated. With the fines approach, shareholders get wiped, creditors impaired, but the company's operations can keep going under new ownership.
- BoiledCabbage 4y ago> This is a ludicrous proposal for a profitable and productive company. It's obviously bad for society as a whole. I agree, and also feel that wealthy and productive people in society should not be subject to laws like murder. They are, after all, wealthy and productive to society. It would be bad to hold them responsible. There are reasons why laws must be made and held above opinions of how useful someone or something is deemed to be. Otherwise you create obscene moral hazard and enable societally dangerous behavior.
- anonuser123456 4y agoYou can liquidate shareholder equity without destroying the company. Public markets can recapitalize it after bankruptcy.
- chii 4y agoIsn't that exactly what is happening, with just with fewer steps? Or are you saying that the existing shareholders must take a haircut by forced selling, so that some other buyer can purchase these shares at a discount? Thus, it is a form of financial punishment for the shareholders to workaround the limited liability?