It’s possible that I shall make an ass of myself. But in that case one can always get out of it with a little dialectic. I have, of course, so worded my proposition as to be right either way (K.Marx, Letter to F.Engels on the Indian Mutiny)
Wednesday, February 01, 2006
If This Is Success
If this is the new definition of success I would hate to see the definition of failure.
Personally, the only problem I have with that case is the fact that it is being prosecuted by the government, rather than as a class-action suit on the part of the shareholders. With the government prosecuting the case, the investors get off scott free for allowing their greed to mislay their trust.
As to the employees who lost their 401k plans, they ought to be sueing the shareholders.
The government's role should be that of a neutral arbitrator.
Well said, as an arbitrator the state should have aided the workers and stock holders who got screwed. As it is this case has taken years to get to court. On the otherhand the laws on bankruptcy preclude workers in most cases, but in Canada that is no longer the case with the new NDP sponsored law passed in the last parliment. Workers First, insuring workers get something when companies use bankruptcy as get out of debt or jail free card. Damned libertarian of them.
2 comments:
Personally, the only problem I have with that case is the fact that it is being prosecuted by the government, rather than as a class-action suit on the part of the shareholders. With the government prosecuting the case, the investors get off scott free for allowing their greed to mislay their trust.
As to the employees who lost their 401k plans, they ought to be sueing the shareholders.
The government's role should be that of a neutral arbitrator.
Well said, as an arbitrator the state should have aided the workers and stock holders who got screwed. As it is this case has taken years to get to court. On the otherhand the laws on bankruptcy preclude workers in most cases, but in Canada that is no longer the case with the new NDP sponsored law passed in the last parliment. Workers First, insuring workers get something when companies use bankruptcy as get out of debt or jail free card. Damned libertarian of them.
Post a Comment