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Skippy25
join:2000-09-13
Hazelwood, MO

1 recommendation

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Re: Corporations need to be stripped of "Personhood".

Your very first sentence shows exactly why they should not have been ruled as people.

People, can and are held responsible for their actions. Corporations aren't and the people that hide behind the corporate shield (which was created by elitist to protect themselves) aren't.

vpoko
Premium Member
join:2003-07-03
Boston, MA

vpoko

Premium Member

said by Skippy25:

Your very first sentence shows exactly why they should not have been ruled as people.

People, can and are held responsible for their actions. Corporations aren't and the people that hide behind the corporate shield (which was created by elitist to protect themselves) aren't.

Listen, if I buy 5 shares of Coca-Cola stock, and management tomorrow decides to put rat poison into it, should I be sued because I owned some stocks, even though I would have no way of knowing that they were poisoning the product? Limited liability makes a lot of sense from the point of view of shareholders (with the exception of very large shareholders) having very limited control over the company's operations.
Skippy25
join:2000-09-13
Hazelwood, MO

Skippy25

Member

Most stock in a company is not there for management purposes, it is there to get cash.

Those that own that stock and those that are responsible for the management of the company should be 100% liable for the actions of their corporation. Executives and the approving boards should ALWAYS be prosecuted and be personally held responsible when their corporations break the law or are civilly liable.

But "investors" like you that do not own actual stock that has anything to do with the management of a company should not be.

Regardless, corporations are never on the hook for anything. If they commit outright fraud or injure people and lose billions of dollars who pays for it? Their consumers. Sure the stock may take slight hit today, but tomorrow it will be backup but that is all paper money anyway and means nothing until it is sold. The executives and board members won't suffer any consequences. If they are fined by the SEC or any other regulatory body, they pay it and then the consumer pays for it. Chances are they already paid in advance as they started hording money once the investigation started a couple years ago.

KrK
Heavy Artillery For The Little Guy
Premium Member
join:2000-01-17
Tulsa, OK

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Those protections would still be codified under law, but you don't have to jump all the way to "Coca-Cola Corporation has the full rights of a Citizen."

Netbum
join:2002-04-08
Oakley, CA

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I say we let a judge decide culpability.
Obviously the 5 share holder folks don't make the big decisions.