Are Corporations Bodiless?

This dumb question is about corporations, which legally are persons.

Should they be?

My problem with the current status is, after bad behaviour, nobody goes to jail.

For example, a certain Canadian bank was implicated in the Enron scandal. Sort-of prosecuted in the United States, it paid the equivalent, at the exchange rate of the time, something like $2.4 billion CAD.

For this, it appears that the bank was allowed to continue operating, admit no liability or wrongdoing, and charge the cost as an expense against taxes.

May I humbly suggest that it looks as if a corporation can purchase its way out of a difficulty and end up with no criminal record. Why then should it have the rights of a person? If nobody goes to jail, is the corporation bodiless?

Note: I have no special focus on this particular bank, but it is an example which made headlines. The practice of paying fines and not being prosecuted has been seen many times.

One thought on “Are Corporations Bodiless?

  1. And the CEO who established and encouraged the culture that pursued this ill-advised course retires with an enormous pension, non of which is “clawed back” when all goes sour and the large fines are due. Society pays, shareholders pay, CEO’s get golden handshakes.

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