Thursday, November 21, 2013

Limited Liability Losers

We all lose by allowing corporations to operate with limited liability.

No matter spin-meisters and PR, the bottom line for corporate limited liability is they can be irresponsible for debts and problems: allowed to generate distress & walk away.

Regular humans cannot so easily escape. What 99% would consider obligations, the corporation can laugh and defect. Reckless corporate behavior is fundamental to this corporate form & its legal foundations.

Corporations could be held responsible. We've allowed them to run amok with limited liability corporate charters. We put shareholder greed first & foremost. As they shift funds to maximal profit, our system encourages socially irresponsible behavior.

We allow hidden corporate donations to corrupt our political leaders. We allow corporate speculation, bailouts of too-big-to-fail corporations, mark-to-market accounting, and raw favoritism. We've allowed the corporate undermining of our political, economic & social systems. Why allow corporate owners the option to fuck over our communities with no penalty?

We allow limited liability owners to pull funding, shut the sucker down, and escape. Why do we encourage that?  Limited liability  =  no accountability. 

Allowing corporate limited liability, we've put Hyena in our living room...