6 ms·
I will not silently go to prison because my 401k worth under USD 20k owns 0.0015 shares as a part of some mutual fund. The CEO and the board do not do my biddi
by pooper 3y ago
I will not silently go to prison because my 401k worth under USD 20k owns 0.0015 shares as a part of some mutual fund.
The CEO and the board do not do my bidding.
Send them to prison.
- labster 3y agoTechnically you own shares of a mutual fund, and the mutual fund owns the stock. Unless the mutual fund only owns its shares via ownership share in a bank, which owns a derivative which owns the 0.0015 shares. Which is generally why responsibility stops with the board of directors, because there’s no way there was criminal intent through four layers of indirection. (Except shell companies, of course.)
- 8note 3y agoIntent sure, but negligence?
- __MatrixMan__ 3y agoPractically speaking, I'd expect the courts to round up the top 10 shareholders or something like that. In principle though, I think partial ownership of a harmful company should expose you to some liability, whether or not the CEO listens to you.
- callalex 3y agoThat sounds like it would be a very strong incentive for investors to avoid potentially bad actors and instead favor non-criminal investments such as bonds. This is a feature.
- Rexxar 3y agoSo you do a convertible bond with a buy option that give you 90% of the company if it's successful and you still avoid risks and get all of the profit.
- oefnak 3y agoYou should only get 0.0015 prison sentence then.