3 ms·
The executives have been fired, the board has been fired, the shareholders have been zeroed out. The shareholders are currently suing the board and the executi
by vkou 4y ago
The executives have been fired, the board has been fired, the shareholders have been zeroed out.
The shareholders are currently suing the board and the executives for running the bank into the ground.
Ten years from now, once all the long-term investments settle, if there's any money left over, the shareholders might be entitled to two turnips and cup of coffee from Uncle Sam.
As far as 'The guilty getting their just deserts', this is a rare example of the world mostly working in a just way.
- AvocadoPanic 4y agoReally? There are jurisdictions where executives responsible for this sort of failure would be shot and have their assets confiscated. Neither is likely in this instance.
- op00to 4y agoIt sounds like you're advocating for summary execution. That's not really done in the civilized world. What do you really mean?
- vkou 4y agoI think he's arguing for going beyond zeroing out the shareholders.
- AvocadoPanic 4y agoThat's an uncharitable reading. There'd be a trial before their assets are seized and they're executed. If being civilized has led to clown world, perhaps alternate modes of civilization should be instituted.