Right now, as a share holder I don't really care about what the company does, only that the stonks go up.
There is no financial motivation for me to care. Sure, stonks can go to zero, but I still don't care. I have a very diversified portfolio (5k positions) because stonks go to zero all the time, even if companies don't do anything illegal.
If I were liable, I would have to care, because one position could bring down your whole portfolio. I would only invest in companies with a lot of oversight, etc.
I don't think a system in which the government is in charge of the oversight can work; there are just too many companies. I think every party financially invested in the company must be intrinsically motivated to perform a high degree of oversight.
I'm averse to making a big change like stripping limited liability when there's easier and less complicated first steps: much larger fine size and executive accountability.
There is no financial motivation for me to care. Sure, stonks can go to zero, but I still don't care. I have a very diversified portfolio (5k positions) because stonks go to zero all the time, even if companies don't do anything illegal.
If I were liable, I would have to care, because one position could bring down your whole portfolio. I would only invest in companies with a lot of oversight, etc.
I don't think a system in which the government is in charge of the oversight can work; there are just too many companies. I think every party financially invested in the company must be intrinsically motivated to perform a high degree of oversight.