There are so many comments missing the point about the definition of a corporation that I can't see how to reply to them individually. So I'll make one general statement:
The problem with the current definition of a corporation is that it limits the liability of the corporate officers too much. You can pretty much murder people with impunity and get off with
your corporation being fined, whether by actual government regulators or by lawsuit doesn't matter. It's only a monetary risk no matter how many lives you ruin. This is
literally gambling with peoples' lives and thanks to the 'corporate person' being such a popular business dodge it extends into every area of life.
From the alphabet soup of chemical dumpers at Love Canal who never had to pay squat for their pollution, to the Ford Motor Company deciding to ignore the known problems with Pinto gas tanks, to the various pharmaceutical companies who ignored the obvious health problems with breast implants for decades, an the tobacco companies who waged open propaganda campaigns to
disguise the problems caused by smoking, there is a clear pattern of both the executives and the 'corporate Boards' that are supposed to supervise them skirting both the law and common sense in their quest to make a buck. And why not? Even in the crash of Enron Ken lay has come away with 100+ million dollars while his employees have had even their retirement savings reduced to dust. I hear there are some lawsuits underway to recover some of that money from him, but they will be breaking new legal ground if they succeed.
IF these people knew they could actually pay the penalty for their crimes, and be sent personally to prison, or at least have their fat executive bonuses confiscated, I think we'd see a great deal more responsible behavior. But that would require changes to corporate law. Guess who writes that? The corporations themselves, and then they give it to some bought congressman, senator, or
President to push through the system. Somehow I don't think we're going to see real reforms any time soon.
[ October 28, 2003, 02:34: Message edited by: Baron Munchausen ]