The idea today firms have a "fiduciary duty" to their investors is an often repeated canard by conservatives and it is false. Why would we want maximum profits for shareholders anyway? Shareholders are not productive.
The vicious 'intent' legal standard raises its ugly head in corporate law as it has done in civil rights law. The 'intent' standard holds that if an entity did not 'intend' the harm that follws from an application of the law then the entity could not be heald accountable for any subsequent harm.
All of the anti-ESG arguments basically boil down to, "We HAVE to ruin the planet and destroy jobs and implode democracy to optimize profits." And I am personally glad there is a counterbalance view to this emerging of people who understand that level of intentional market driven myopia probably is short term very financially successful, but in a longer view represent a form of insanity driving toward wholesale destruction and misery for everyone.
Money will be no real shield, but they seem to have convinced themselves either that they will be dead before the real shit hits the fan, and/or it's going to be a meaningful existence to be one of the people living in a billionaire bunker somewhere "ruling" over the ashes of a dead world.
If the WSJ editorial page didn't have lies and bad-faith arguments ... they'd cease to exist.
The idea today firms have a "fiduciary duty" to their investors is an often repeated canard by conservatives and it is false. Why would we want maximum profits for shareholders anyway? Shareholders are not productive.
When one of the GOQP cabal lies, all of the others swear it’s true, repeatedly.
The vicious 'intent' legal standard raises its ugly head in corporate law as it has done in civil rights law. The 'intent' standard holds that if an entity did not 'intend' the harm that follws from an application of the law then the entity could not be heald accountable for any subsequent harm.
All of the anti-ESG arguments basically boil down to, "We HAVE to ruin the planet and destroy jobs and implode democracy to optimize profits." And I am personally glad there is a counterbalance view to this emerging of people who understand that level of intentional market driven myopia probably is short term very financially successful, but in a longer view represent a form of insanity driving toward wholesale destruction and misery for everyone.
Money will be no real shield, but they seem to have convinced themselves either that they will be dead before the real shit hits the fan, and/or it's going to be a meaningful existence to be one of the people living in a billionaire bunker somewhere "ruling" over the ashes of a dead world.