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"You might think that I am off base, but I am published by the Securities and Exchange Commission."

Thomas Paul Murphy

Tuesday, July 16, 2013

Limited Liability Revisited 07 16 2013

Limited Liability Revisited 07 16 2013
In the case of an Environmental disaster the size of the gulf oil spill or the Exxon Valdez spill or in the case of a Financial caused by a Financial Companies actions, to name just two instances, that corporation and the management of it should lose their ability to have limited liability for the lives of both.
Why?  Because the negligence created in terms of human health and economic viability of the United States cannot be allowed to be compromised by people like that again.  They did not have the wherewithal to perform and manage the jobs and career’s they were granted through what can only be considered the “Spoil System.”
They should never be allowed to skate through life without thoroughly contemplating the consequences of their actions again.  In order for the United States to stand up for what we believe in we have to take action against that which compromises everything that we believe in and that includes not letting negligence, fraud and other crime jeopardize our national stability.  I could make the argument that incidents like that have posed the greatest threat to national security in the history of the United States.
Also allowing the will of Oil Corporations to direct our national energy policy has been a great disaster for the United States of America!
Just as violent felons are not allowed to own a gun so should white collar criminals no longer be allowed to conduct themselves behind the shield of limited liability!  When you should have been responsible but where not you should be stripped of your limited liability.  Not only that; but the public might start to wonder if you have the capacity to make decisions for yourself.  Right?  You bankrupted the United States and almost slipped us into a greater Depression, maybe you have a mental defect?  And maybe all of those that deal with you need to be aware of that in some way.  You caused a multibillion dollar environmental disaster with repercussions that you consider no one has a valid opinion or point of view to recognize; maybe you have a mental defect too?  And the public desperately needs to know what it is, don’t they?
I focused on Oil and Banking in this article.  But the topic also relates to health care and the pharmaceutical industry.  As well as Alcohol and Tobacco.  As well as foods and chemicals.  Product liability.  Etc. Etc. All that other stuff that I have griped about too! Honest to God if what we are to consider a layman can see what you have done wrong what is your excuse for not having seen it??????
One does not need to do too much research to see that you should have never been given the reins to the wagon.

And do shareholders suffer in such cases?  Yes.  But the idea being that the problem is partially addressed by stripping you from ever causing one again! And better the shareholders of one company suffer than the entire nation be brought to its needs by magogity.

Copyright 2013 Thomas Paul Murphy
Originally published on 07 16 2013 at:

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