In 2002, attorney Robert Hinkley proposed that a federal corporate law be established to ensure that the pursuit of profit does not damage the public interest.
"Directors and officers would still have a duty to make money for shareholders, but not at the expense of the environment, human rights, the public safety, the communities in which the corporation operates, or the dignity of its employees."
http://www.commondreams.org/views02/0119-04.htm
Existing federal securities laws hold directors personally liable for false or misleading statements made in prospectuses used to sell securities. It is time that this liability extended beyond acts of fraud, and includes all acts that would hold corporate profit above the public interest.
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