Limited Liability Is Causing Unlimited Harm
The shareholders are not usually the ones making the decisions, the <i>managers</i> are. Rather than going after Joe Average&#x27;s pension when he put $100 in an index fund that turned out to own Dow Chemical, go after the managers.<p>Perhaps a rule that anyone in a decisionmaking position who earned over $1m total comp last year is partially liable for fines against the company?<p>In the UK a few decades ago there was a huge fiasco when Lloyds, one of the few remaining places whose investors have unlimited liability because the company dates from 1686, dumped liabilities relating to asbestos onto them. <a href="https:&#x2F;&#x2F;www.theguardian.com&#x2F;money&#x2F;2000&#x2F;nov&#x2F;04&#x2F;business.personalfinancenews1" rel="nofollow">https:&#x2F;&#x2F;www.theguardian.com&#x2F;money&#x2F;2000&#x2F;nov&#x2F;04&#x2F;business.perso...</a><p>Was Sir William Jaffray responsible, in the 1980s, for the actions of those marketing and installing asbestos in the 1970s? He ended up <i>liable</i> for it anyway.