Earlier quoted context omitted.
The real problem then, is that corporations have unchecked power. No one acting behind them is personally liable for their illegal behavior. Corporations can't go to jail. They only pay fines that are a fraction of their profits from the illegal behavior, which is a mathematical incentive for them to break the law before their competitors. Even in silicon valley, we laud AirBNB, Uber, Facebook, Google, et al. Do you…
I’m a fan of forcing corporations to issue shares to the victims. Do something minor? 10% dilution. Do something worthy of the corporate death penalty? Issue 100 shares for every share outstanding. Of course, the issued shares would have as many votes as the maximum currently issued share (so if the founders get 10 votes per share that is what the victims get too). Note that you can set precedents based on percentage…
Among those: if lawyers get 30% of settlements, then large consumer-rights law firms could end up as major shareholders. That could get v. interesting several ways.