Post ATHlQjQtaHKPajaxVY by Aporkalypse666@mstdn.social
(DIR) More posts by Aporkalypse666@mstdn.social
(DIR) Post #ATHl2r1tghwSCcW64G by Aporkalypse666@mstdn.social
2023-03-04T22:09:23Z
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If corporations are people, then why do Limited Liability Corporations exist?People's liability isn't limited, right?#LLC #CitizensUnited
(DIR) Post #ATHl2rsiWKC0qREHOi by bananarama@mstdn.social
2023-03-04T22:10:55Z
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@Aporkalypse666 What do you think bankruptcy is...
(DIR) Post #ATHlQjQtaHKPajaxVY by Aporkalypse666@mstdn.social
2023-03-04T22:15:14Z
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@bananarama True, but a corporation doesn't become homeless after declaring bankruptcy. They don't lose their retirement savings. They don't have a destroyed credit score that handicaps their ability to buy a car or home. A corporation just ceases to exist...and who is held accountable?
(DIR) Post #ATHlVUuB1d2ByyZ0bY by bananarama@mstdn.social
2023-03-04T22:16:06Z
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@Aporkalypse666 What do you think happens to the assets of a dissolved corporation?
(DIR) Post #ATHlfNBMaqQCvVJNMO by Aporkalypse666@mstdn.social
2023-03-04T22:17:53Z
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@bananarama Are the stock owners, CEOs, board members held personally responsible? I think 2009 told us a resounding no.
(DIR) Post #ATHlt3VCYm9nwb7C0u by bananarama@mstdn.social
2023-03-04T22:20:21Z
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@Aporkalypse666 Most of the time they absolutely are. 2009 was a special example, Bernanke has gone into a lot of detail of why he was not willing to run such an experiment with the US economy. If there is actual fraud involved, there are frequently other repercussions. See the lawsuits against Infowars and Alex Jones for more details.
(DIR) Post #ATIECCHExOKpNSV5cG by najanaja@mstdn.social
2023-03-04T23:41:19Z
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@Aporkalypse666@bananarama Stocks become worthless after a bankruptcy, dividends are no longer paid out. All the capital the stock owners invested is lost. For many, especially in the US, these are their savings.
(DIR) Post #ATIECCqgpagv9P5Os4 by Aporkalypse666@mstdn.social
2023-03-05T01:28:31Z
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@najanaja @bananarama But the liability is limited. Hence the term.If you can tell me the corporate owners and managers of an LLC would suffer the same criminal consequences as a private individual who did the same thing as the LLC, then we can have a conversation.There's no limited liability for individual persons.
(DIR) Post #ATIECDJP6peyaSWKcy by bananarama@mstdn.social
2023-03-05T03:37:33Z
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@Aporkalypse666 @najanaja Dude, they do suffer criminal consequences if they do something illegal. I don't know what else to tell you. Operating behind a shell corporation does not save you from criminal liability.