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Politics : Mainstream Politics and Economics
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Brian Sullivan
TimF
To: i-node who wrote (50099)8/2/2013 7:54:37 PM
From: i-node2 Recommendations   of 85487
 
>> You can't comment on the examples I gave in the linked article,

Are you talking about the WR Grace article you linked AFTER your post?

You're right -- I can't comment on it because I'm not going to spend my Friday night reading about a decades old court case that I have no interest in.

But I can assure you that corporations and humans alike try to find outlets in the law that will allow them to preserve assets when times get tough.

One of the key reasons corporations are able to raise the large amounts of capital required in sizable business ventures today is that they provide means of organizing so as to minimize losses in the event some fool slips on a banana peel.

If, as a stockholder in DOW chemical, I could be held liable if something they create kills someone, I certainly wouldn't be a stockholder, would you? And if claims against DOW-CORNING could bankrupt DOW and Corning, these kinds of arrangements would never be formed. So, perhaps there is a downside when something goes wrong as it did with DOW-CORNING, but there is an upside in that these companies are able to provide jobs and do research that wouldn't otherwise be possible.

You can only see the downside, which is why arguing with you is a total waste of time.
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