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So they still made 3.5 billion at the end.
Fines for this stuff should start at gross profit over the entire period and build up from there.
Otherwise it's just a cost of business. Shit like this should bankrupt corporations and the board members controlling it. Make every stock worthless and then corporations would stop
The fundamental cause of the corporate behaviour is that by law their first priority is to make profit for the shareholders.
Fix that and things will change.
Purdue was privately held. This was the family itself being greedy pieces of shit.
And corporations are not required to only focus on profit growth. Their duty to the shareholders is to see a return on their investment. That is very open to interpretation. Companies can definitely take a longer term growth strategy or even a slower one and pump out dividends.
You don't even have to change that, but I'd love to see something that at least changed it to long term profits, like over 3-5 years, not quarterly where everything is running into the ground for every penny. We can even do that by changing how we tax stocks. The longer held, the less paid on taxes.
But even without that, well regulated capitalism is fine.
The real root problem is campaign finance deregulation which allows corporations to buy out both parties primaries for people who will make them more money, and further deregulate campaign finance so that the next round the politicians get more and are incentived to repeat.
Especially with how campaign "war chests" can roll over forever.
It's a snowball effect and the longer we ignore it the harder it is to fix. The harsh truth is most elected Dems at the federal level shouldn't be there and need to be replaced. We can't just wait for the rotten apples to fully rot to make space for new ones. We need to get them the fuck out the barrel
Fines for this stuff should start at gross ~~profit~~ revenue over the entire period and build up from there.
FTFY. We should not give a fuck whether they were profitable when accounting for the harm they cause (especially since that basically just gives less competent perps a discount). If it sinks the company, so be it.
Not a fan of incarceration but that family should be in prison for life.
At the very least they should lose every penny they have, and every penny they earn henceforth should go directly to the fund. Or am I just describing incarceration?
The law protects property owners, so my interpretation is likely weak but asset forfeiture is normal in situations where assets are gained by illegal means. Seems easy to deduce that most of their wealth is derived from criminal activity.
I'm surprised Trump didn't find some way to interfere.