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Politics : View from the Center and Left

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To: greenspirit who wrote (105172)	2/28/2009 5:19:25 PM
From: cosmicforce	Read Replies (1) of 541067

<failing in their fiduciary responsibility> No way - that would be tried in civil court AND very difficult to prove. That would be a circus with high-priced lawyers eating the smaller of the amounts and if the shareholder's lawyers win a third of the money goes to them. Compared to their salaries the shareholders could assess maybe a 3x penalty on that salary IF and ONLY IF they were found guilty of incompetence. By trying in the criminal court a guilty verdict for either party would expunge the money from the executives even if they are innocent and only the company is guilty. And it would be 100% - the government doesn't charge a recovery fee of 33%. Plus, it is the larger amount. After that win, THEN we do the civil if you want for 67% of the rest of their money, but not without a criminal verdict. I hope no one does what you suggest - that would be nightmare and sure way to kiss any money goodbye. People hate corporations and could readily find them guilty but can find an idiot innocent especially if plead "stupid". Doesn't matter - he can't keep money he made by being criminally stupid or as a bonus for being stupid for a criminal corporation while salaried.

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