4 ms·

It is not capricious to hold C-suite legally accountable for their choices. Lots of corporate scandals would simply not have happened if decisionmakers had skin

by xvector 7mo ago

It is not capricious to hold C-suite legally accountable for their choices. Lots of corporate scandals would simply not have happened if decisionmakers had skin in the game. If CISOs can have personal liability for data breaches, CEOs can have personal liability for intentionally creating an illegal platform. Instead we reward these people with billions for degrading the fabric of society.

Forgeties79 7mo ago
We need either a “corporate death penalty” of sorts, more personal liability for c-suite execs, or some combo of the two. Too many people fail upwards to trust the system to sort out the “bad ones.”
- jacquesm 7mo ago
  It exists: https://en.wikipedia.org/wiki/Judicial_dissolution https://en.wikipedia.org/wiki/Judicial_dissolution
  - Forgeties79 7mo ago
    Fair. I should probably say “we need to actually use the corporate death penalty.”
    - jacquesm 7mo ago
      Yes, but you are very much right: the fact that it exists but that hardly anybody knows about it is what is the problem. There are many companies that over the years should have been dissolved because of incredible crimes and yet they all keep getting away with it. Besides that I'm all for strict personal liability for the execs and the investors of the companies they invest in. That's of course the exact opposite of the way it works right now but that actually institutionalized externalization, one of the key issues with why the world is the mess that it is. Corporations are fine, limited liability corporations are not, I'm becoming more and more convinced that they are in fact the root of all evil because they allow the erection of financial 'diodes' that allow you to partition your stash from your liabilities and the two should always be linked. They are a very effective mechanism to allow people to screw over society and claim it's all perfectly legal.
      - Forgeties79 7mo ago
        I’ve always felt LLC’s should more narrowly limit people’s liability more or less. It’s basically a shield currently. I also think it should be reserved for sole proprietorships or otherwise very small companies, and very specific kinds of companies at that. For instance, if I am drumming up funding for a movie I should not be personally held liable if it loses money (otherwise indie film would be completely snuffed out lol)
DANmode 7mo ago
> If CISOs can have personal liability for data breaches Where’s this, now?
- happyopossum 7mo ago
  In the US it’s a legal battle currently being fought. CISOs have been charged by the SEC and other agencies, with varied success. Some cases have been deemed over-reach, some have not. And other were a case of a CISO doing ostensibly illegal things in their capacity (in some cases paying ransom demands have been interpreted as such, especially when disguised as other things).

by xvector 7mo ago

Forgeties79 7mo ago

We need either a “corporate death penalty” of sorts, more personal liability for c-suite execs, or some combo of the two. Too many people fail upwards to trust the system to sort out the “bad ones.”

jacquesm 7mo ago
It exists: https://en.wikipedia.org/wiki/Judicial_dissolution https://en.wikipedia.org/wiki/Judicial_dissolution
- Forgeties79 7mo ago
  Fair. I should probably say “we need to actually use the corporate death penalty.”
  - jacquesm 7mo ago
    Yes, but you are very much right: the fact that it exists but that hardly anybody knows about it is what is the problem. There are many companies that over the years should have been dissolved because of incredible crimes and yet they all keep getting away with it. Besides that I'm all for strict personal liability for the execs and the investors of the companies they invest in. That's of course the exact opposite of the way it works right now but that actually institutionalized externalization, one of the key issues with why the world is the mess that it is. Corporations are fine, limited liability corporations are not, I'm becoming more and more convinced that they are in fact the root of all evil because they allow the erection of financial 'diodes' that allow you to partition your stash from your liabilities and the two should always be linked. They are a very effective mechanism to allow people to screw over society and claim it's all perfectly legal.
    - Forgeties79 7mo ago
      I’ve always felt LLC’s should more narrowly limit people’s liability more or less. It’s basically a shield currently. I also think it should be reserved for sole proprietorships or otherwise very small companies, and very specific kinds of companies at that. For instance, if I am drumming up funding for a movie I should not be personally held liable if it loses money (otherwise indie film would be completely snuffed out lol)

DANmode 7mo ago

> If CISOs can have personal liability for data breaches Where’s this, now?

happyopossum 7mo ago
In the US it’s a legal battle currently being fought. CISOs have been charged by the SEC and other agencies, with varied success. Some cases have been deemed over-reach, some have not. And other were a case of a CISO doing ostensibly illegal things in their capacity (in some cases paying ransom demands have been interpreted as such, especially when disguised as other things).