There is a deep liability tradeoff structure all up and down the joint stock corporate structure that has co-evolved with the legal apparatus that regulates it.

There is a deep liability tradeoff structure all up and down the joint stock corporate structure that has co-evolved with the legal apparatus that regulates it. Shareholders are in a symbiotic liability laundering relationship with executives, who are in a symbiotic liability laundering relationship with middle management who etc with actual workers who etc with customers.