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Proposal for a "Corporate Death Penalty" for you to review

since corporate personhood is so precious to the powerful, why not take that one step further.
what happens when a corporation causes harm? a slap on the wrist? a tiny fine, a fraction of the profit from their exploitation? What happens when they deceive the population?

How does this sound. Should a corporation be found guilty of gross negligence, deception, or fraud, all stock, ownership and rights are moved to the non-management employees, to create a co-op or employee owned organization. Should this new organization continue such behavior, then the company is shuttered, and all assets go to the public trust.

Yes, many details to work out, but it seems to me that investors will be wary of putting their money in jeopardy with a company that has shady business practices. The Co-Op model would preserve employment, while not rewarding management for their negative behavior.

Just a thought, feel like discussing? Isn't that one of the purposes of this particular medium?


Exile.


Exactly 26.Jul.2008 13:33

d. beck

You are right on. That is precisely what should be done.

You've touched on a gigantic problem though. While doing my jury duty a few years back I asked the judge why it is that Michael Milken and his band of crooks were able to steal and defraud the public of an estimated (no one knows for sure) $100 BILLION (that's from 'A license to steal', Ben Stein) and Milken was fined $4oo million and 18 months in a country club where his wife was allowed to live with him.

The judge stood there for about twenty seconds....like someone had just pulled his pants down and said that the judges have guidelines to follow in sentencing but it is the congress who sets the limits.

The amount of money that the crooks are able to steal, now, is far far greater than what the outdated sentencing was made for. But don't expect congress to change that problem soon..........

Business colleges now teach that if you can make more money by breaking the law or a contract and paying a fine, then break the law or the contract.

This is a huge issue that gets absolutely NO discussion. We will only see more corporate fraud executive misconduct until the system is brought up to date.

arrest armbands and breaking ribs of legal candidates in the USA is real 28.Jul.2008 17:04

biostate

A 'death penalty' for corporation recidivism is in the bioregional state.

If corporations want to be 'individuals,' then different levels of corporation taxation (different than individuals) are absurd as well. It's 'separate though unequal' in the present corporatist model.

Another check and balance added in the bioregional state is assuring public candidates remove themselves from corporate oversight/consultancy jobs and investments, if they really want to be public servants instead of just hypocritically use that label to gain more private corporate power for themselves. Another check and balance.

More check and balances are publicly funded elections, election holidays, only having private TV advertisements for candidates in a special equal-time block on public television stations before elections (insted of on private television stations all the time), and of course the importance of really having truly open debates. The 'debates' that the USA has are corporatist Republican-Democratic pantomimes because they are not freeform debates. For over 25 years, the Democrats and Republicans have arrested legal candidates attempting to debate their candidates. More on that point at:

Fresh Shoots from a Dead Tree: The Bioregional State Compared and Contrasted to Green and Libertarian Ideologies, Pt. 3/4
 http://biostate.blogspot.com/2008/04/fresh-shoots-from-dead-tree-bioregional.html

(Douglas Campbell, Legal Green Candidate for Michigan Governor, 2002: Physically Carried off Stage of "Public Debate" and Roughed Up While Democrats and Republicans Twiddle)

(Michael Badnarik, Legal Libertarian Candidate for President, 2004 (arrest armband pictured), with David Cobb, Legal Green Candidate for President, 2004; Both Arrested While Attempting to Enter "Public Debate")

pictures and discussion:
 http://biostate.blogspot.com/2008/04/fresh-shoots-from-dead-tree-bioregional.html