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by smallmancontrov
836 days ago
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> It turns out that limiting liability is a far better system It's hilarious how gung-ho free market cheerleaders are about systematic responsibility and accountability and skin-in-the-game decision making... right up until the millisecond that involves something other than rich people getting paid for being rich, and then it's bailouts this and limited liability that. |
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And criminal prosecutions of decision makers isn't as much skin in the game as it is making it risky to be responsible. It is just asking for lower-quality people to move in to high ranking posts and for confusing corporate structures to emerge.
It is better to impose large financial penalties on the company then let the markets sort out the details. I don't even mind the CEO suffering large penalties, but he and Boeing need to negotiate that before the event and put it in his contract, not after the fact.