Wow, Scott, I have to get off the bus here.
Using RICO (which was and is a questionable legal device) for the already corrupt shareholder derivative lawsuit apparatus?
Naw, I have a simpler solution. Make all executive compensation real cash (no options, no dilution), have truly independent (no consulting) auditors, make corporate boards appoint not only the auditor to the board, but 2 other independent auditors to the board, and have all executive compensation issues determined by the compensation committee made up of all independent members of the board.
Have all big compensation issues (any amount > $1 million per year) laid out (on a per hour basis--"Your Chief Executive proposes to be paid $8 million next year, or roughly $4,000 per hours) before the sharholders who can vote not only yes or no, but a percentage: Okay, but only give the guy 15% of what he's asking for, or let him walk.
The executives have been raping the stockholders for decades, but there's an argument that all that sex was consensual (stockholder greed & stupidity).
RICO, just another full employment act for lawyers.
Kb |
