3 ms·
Not a Lawyer. I would argue that new laws are absolutely needed. USA laws are more directed towards helping companies and hurting individuals. Example of bank
by yndoendo 3mo ago
Not a Lawyer.
I would argue that new laws are absolutely needed.
USA laws are more directed towards helping companies and hurting individuals. Example of bankruptcy is a good one. Companies can shed more liability where individuals retain it after bankruptcy.
Civil liability is only viable if one has the funds to take action. This creates a David vs Goliath scenario were Goliath has an army behind them. Only method to remedy this would to change / pass a law that the party which loses must pain all court costs. It creates a level playing field for actual action against big business. I believe the UK has something like this in place.
Criminal liability is a joke when it comes to big business. They will bake the cost of fines as the cost of doing business. Make $1,000,000 braking the law and only pay a $1,000 fine results in $999,000 profit. Something like three strikes and the CEO, top executives, and three primary share holders go to jail while forcing the company to dissolve seems to be the only solution to removing bad actors in corporate settings.
Our current laws protect corporations and bad actors, with-in them, while harming the victims.