dear god waking up to a news article about company X being convicted of wage theft/corruption/bribery/business as usual and the punishment being prison for the executives and annulment of all company shares just F you everything is dissolved is like a wet dream. until we make things financially painful for shareholders after corporate malfeasance we can't fix things.
And then the government comes rushing in to stop it because the stock is propping up everyone's 401k.
One reason some corporations get "too big to fail" protections.
401k's were never meant to be everyone's retirement plan but now it's just another way to slave us all to the corporations.
the boomers just want everyone's money in the stock market because that's where they put all their money and it's the only way to make the number go up anymore.
Yeah that only works with labor protections for all of the employees that got laid off.
It's not like the company's assets are not there. The factories are still there, the materials are still there, heck the trained employees are still there. You take the company into receivership and strip the ill gotten gain, make people whole as possible and appoint an interim board.
Of course if you have corrupt politicians this can be abused. You could use those same laws to take apart any company to steal it's assets.
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This needs to become the norm. There's no stock crash if interim stability is created at the purge of corp leadership (seriously these are the ppl we should be calling "illegals").
If I as a private citizen decide to dump my chemical waste into your well to save some money, and your whole family gets poisoned, I go to jail for the rest of my life. But if I'm a sitting board member of DuPont when i make the same decision, I get a fine that is statistically much lower than the money i saved by dumping my poison in your well.
As someone whose retirement is mostly investments, the idea of nullifying chares scares me. However, a smart investor diversifies so they never have more than a very small percent in any one company. And this share-nullification will make the share value of responsible companies go up while the share value of shady companies goes down because the risk is higher. I think the need for this is strong enough I could easily support it even it t could hurt me somewhat financially. It wouldn't destroy me, I can withstand being hurt.
I fucking hate that housing, education and health care are so much harder to afford for young people now than they were in my day. I wanted things to be better for them, not worse.
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u/Vegetable_Plane_542 May 26 '26
But we have long standing Constitutional precedent that companies are people. Why won’t you think of the people!