[bh23ha]

Well you could calculate the total damage of a spill and personally charge everybody from middle managed up for it. If that's not enough, go after the share holders, even grandma Millie.

But we can't do that, the whole point of LLPs and Incs. is to limit the investor's liability.

This is partly why we have agency risk.

This is why while I consider myself a libertarian, I still think we need competent and aggressive regulators in all the places where the market is not self-corrective.

But I'm not sure how we could avoid regulatory capture for ever.