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Exactly. If the CEO goes to prison if the company commits X crime, the CEO has a strong incentive to ensure the business is not doing that. If the CEO's only c
by ocdtrekkie 4y ago
Exactly. If the CEO goes to prison if the company commits X crime, the CEO has a strong incentive to ensure the business is not doing that.
If the CEO's only concern is shareholder profit, crime usually pays pretty well.
- ticviking 4y agoThe idea that a 10000 year jail sentence must be served by every share holder disturbed in proportion to how much they owe would make “shareholder value” mean “not making me check into jail to serve my 2 days of the sentence for my 1 share” which might change corporate behavior a bit. Especially if insuring shareholders income against that risk becomes a line item in the budget.
- ocdtrekkie 4y agoI think shareholders might be too detached from decisionmaking for that to make sense. It'd definitely have a huge negative impact on stock values, but I'm not sure it would prevent corporate malfeasance.
- meheleventyone 4y agoIf nothing else it would make jail nicer in that case.
- kevin_thibedeau 4y agoA more realistic approach is to take away personhood rights that these corporations rely on. A 10 year ban on political donations and lobbying would be a good starting point. Then prison for the C-levels if they violate those terms which are directly under their control.
- geysersam 4y agoYes and the less you know the better for you when it eventually goes to court. We had one of these cases recently in my country. CEO of one of the biggest X in the country goes to trial for lying/not informing correctly about Y gross malfeasance. Walks free after years of investigation, because didn't know about it.