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> I'd like to see a new class of company which does not allow bankruptcy, and shareholders are compelled to pay for any debts the company has to allow it to shu

> I'd like to see a new class of company which does not allow bankruptcy, and shareholders are compelled to pay for any debts the company has to allow it to shut down or merge. Look up Establishment companies in the Gulf Middle East then. If you've heard of stories of people being jailed for bankruptcy in the Gulf, most of the times, it is this. People set up Establishment companies because they are relatively cheaper and only need a local Arab to start up. Then when the companies end up in trouble, they get saddled with debt on an unlimited and personal liability basis, which causes them to be jailed, sometimes often with the Arab too. Usually the Arab's debts are wiped out by the government in annual amnesty programmes, but the foreigner is trapped till he pays or till the creditors write off the debt. Not to mention, there's always an LLC option present in all of these countries but quite a few folks cheap out and then get rekt.

scrubs 2y ago
Right - capitalism in the the large is fine. In the small ie company by company, board member by member, control and accountability have become too divergent. That's a problem. Along the same lines I recently posted this idealized goal for our US companies: you can be regulated. And if you screw up financial fines and the like. Or you can be very lightly regulated. But if you screw up, criminal indictments, jail time, and personal liability. I'm guessing a ton of pro-capitalists who talk the talk on TV would prefer regulated entities ... that is you can't see a business man's real character unless there's skin in the game.