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View Diary: Privatizing Evil for Profit (6 comments)

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  •  That is not correct (1+ / 0-)
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    Corporate Officers fiduciary duty is to the company, not the stock holders.  Corporate officers owe no legal duty to stock holders, other than not to commit crimes.

    Corporate Officers usually ignores the vast majority of stock holders. Because their votes are washed out.  Presumably, if the stock holders (usually large investment funds) don't like how the company is being run, they vote with their feet.

    Thus, Corporate bureaucrats have only to answer to themselves, because they control the corporation to which they owe the fidiciary duty.

    And with little to no govt regulations, no one is watching the watchers....

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