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this post was submitted on 03 Jul 2023
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That's why limited liability is bullshit. You make the decisions, you go to prison for the crimes that come of them.
It's kind of a gray area though. Do you just jail the CEO if a company does evil? What if it was someone else inside the company and the CEO didn't know? And conversely, what if the CEO knew and is trying to pass off like they didn't, how do you prove it? It turns into slippery slopes pretty fast.
My personal solution would be just to actually scale up the fines. If someone gets fined for something they profited from, it's extremely stupid for the fine to be less than their profit. You're basically telling them to do it again.
I mean, aren't CEOs massive pay justified because they supposedly take on ultimate responsibility for the company?
If a company does something criminal under their watch, then even if they didn't give the orders they have been criminally negligent - surely?
Now, mind, I don't think that they should necessarily be the person punished most - the person's down the chain more responsible should serve more time. But the person at the top shouldn't get away free.
Regardless though I agree - fines with teeth are the most important thing.
I mean, aren't CEOs massive pay justified because they supposedly take on ultimate responsibility for the company?
If a company does something criminal under their watch, then even if they didn't give the orders they have been criminally negligent - surely?
Now, mind, I don't think that they should necessarily be the person punished most - the person's down the chain more responsible should serve more time. But the person at the top shouldn't get away free.
Regardless though I agree - fines with teeth are the most important thing.