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As much as I agree with investing alongside your values, I don't think holding shareholders criminally liable for the companies they own fits alongside my conce
by hx8 2y ago
As much as I agree with investing alongside your values, I don't think holding shareholders criminally liable for the companies they own fits alongside my concept of justice. Reasons why I'm against shareholder criminal liability
* Shareholders do not directly commit crimes. We should hold those that directly commit the crime liable.
* Shareholders often hold assets that hold stocks. Should I be responsible if I own an index fund with stocks in a company that owns stocks in a company that commits a crime?
* Shareholders do not have perfect information about the inside operations of a company. I cannot read internal emails to determine if I own a shares in a company that is planning on committing a crime.
* Shareholders can physically be outside of the legal jurisdictions that the company is operating from. Is it fair if Venezuelan shareholders are effectively unpunished while US resident shareholders are held responsible?
- mcculley 2y agoThese are all good questions. If shareholders were legally responsible for the actions of the companies they own, they would expect and be entitled to more transparency. I remain unconvinced that the system we were born into just happens to be the right way to do things. I can currently extract profit by owning pieces of corporations that harm individuals and society. This seems less than ideal to me.