Yup. We need more of the corporate death penalty. And when corporations are so big that ‘killing’ them would harm the economy, I argue we’re back to too big to fail. Maybe the answer is giant fines, and if the company can’t pay, wipe out the largest shareholders and then resell the stock over time. Make people’s personal information a giant hot potato that nobody wants to be holding.
Comment on Dell warns of data breach, 49 million customers allegedly affected
slurpinderpin@lemmy.world 1 month agoYep data protection should be life or death. Either that or make the executives personally responsible ie the fines come out of their pockets
SirEDCaLot@lemmy.today 1 month ago
explodicle@sh.itjust.works 1 month ago
Why stop there? Abolish the corporate veil. Those motherfuckers can buy liability insurance.
SirEDCaLot@lemmy.today 1 month ago
Disagree. Breaking the corporate veil would have a whole lot of unintended consequences and would basically kill investment as a concept. I agree we need to do more about corporations that violate the law with impunity and get wrist slaps. I don’t think that’s it.
explodicle@sh.itjust.works 1 month ago
Why do you think it would kill investment despite liability insurance?
SirEDCaLot@lemmy.today 1 month ago
Because it would greatly increase the cost and risk of investment. Think not just for billionaires, but for anybody. Imagine somebody buys a couple tens of thousands of dollars of a stock as part of their retirement, that company does something bad, and now not only do they lose their investment but they lose the rest of their retirement also.
I am all for wiping out shareholders, especially big ones, when a company does something super stupid. There should be an incentive for shareholders to hold companies they invest in accountable.
But suggesting that company owners become personally liable for the actions of those companies, especially when those equity owners have little or no control over the decisions of the company, that is a recipe for disaster.