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Forum Post: Insurance that Provides a Cushion for Calculated Risk for Class Action Suits and Government Fines for Illegal Acts?

Posted 5 years ago on Jan. 17, 2013, 8:55 p.m. EST by elf3 (3898)
This content is user submitted and not an official statement

Somewhere out there I bet there is an an insurance policy that corporations can buy that allows them to take calculated illegal risks, that will pay them in the event there is either a class action lawsuit or if they have to pay the government fines. (probably located in Switzerland) hmm Whatever happened to jail time? If corporations are people then they should be punished like people who break the law rather than like a board that broke the law...otherwise their charter to operate should be revoked and they should be DISBANDED.

Take a look at the Wall Street journal today - look at how many fines and class actions are out there...if these don't hurt them because they have insurance to protect themselves, then I ask where is the punishment? What is to prevent them from doing it again and again? Oh yes that's right on us we're all serving "the greater good" of Wall Street. What is that if not communism? They break the law and fraud all over you/, you pay for it with your taxes, collectively we pay millions (and hey we both got bruised a little - course they made millions, but we only lost out individually on what we paid for that faulty product or what comes out of our paychecks, that house you or someone you know lost, or well sometimes yes just our lives, but remember it was only 30 people that got infected with Meningitis from faulty medicine and died ...out of a National population...) "it's all for the economy and that's what is important." Wait what economy is that again? I guess it depends on where you're standing (Like in the unemployment line)

Is it legal to provide insurance that will pay out for repercussions of breaking the law?; Does this insurance exist for Wall Street? If it's legal hell sign me up!!! I'm heading to Wall Street to break into a bank - oh wait that won't work I'd face jail time unlike them. What kind of system is this any way? - Separate laws for "people" - What happened to equal rights under the rule of law ???? Seems like we citizens are being segregated against... doesn't it?

If they can argue corporate personhood - I'm arguing citizen segregation and discrimination (for we surely have separate rules under the law than they do.) Can we be separate and still be equal?



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[-] 2 points by DKAtoday (33491) from Coon Rapids, MN 5 years ago

Really???? A corpoRATion can insure - so that they can afford to take/Do illegal actions/practices? :

Insurance that Provides a Cushion for Calculated Risk for Class Action Suits and Government Fines for Illegal Acts?

Ummmm is that known as legalizing illegal/criminal activities?

[-] 2 points by elf3 (3898) 5 years ago

Class Actions are a slap on the wrist for these companies. Look at what Samsung spent suing Apple. The amount of money bet back and forth means nothing to them -not for that, and I'm sure not for screwing customers- I'm starting to get suspicious on that too because seems like these risks aren't in the interest of the shareholders UNLESS they have some kind if insurance which would safeguard the loss. This has got my wheels turning...who is the super fund insurance company providing Wall Street the risk, and who has that kind of money but maybe the FED Bank or the Swiss government?

[-] 1 points by Gillian (1842) 5 years ago

Corporations in general are not people but can be structured with limited liability. Do some research on different corporate structures such as C corp, S corp, LLC, etc...
Most likely, these corps would file bankruptcy in the event of a super law suit but hey wait, there's no need to do that if you're gov't is going to bail you out!!!

If an officer or other employee were to be found guilty of a specific crime, they would probably be sued and charged as individuals for their behavior, sep from the corp. However, personal accountability in these megacorps is sometimes difficult to find since there are so many cooks in the kitchen. I'm no expert on corp law but I'm basing my thoughts on companies like Enron and what I little experience I have.

[-] 1 points by Theeighthpieceuv8 (-32) from Seven Sisters, Wales 5 years ago

I have a better idea - what of the individual could insure against loss of employment, loss of income, loss of market value? What if there was insurance to eliminate the risk of Wall Street?

[-] 1 points by elf3 (3898) 5 years ago

Well last I checked it's called unemployment insurance - I guess they can make us pay for insurance to cross the street if they want to - now we will have insurance to carry guns - (MA is proposing this idea) - has it occurred to anyone in Occupy that the purpose of the right to bare arms is to protect yourself against a corrupt government? ..so in order to protect ourselves in the future from our corporate captors, we'll now have to pay our captors and get the permission to do so. Since insurers can decide to deny coverage based on credit bureaus FICO and who knows what else may be in that FICO report - our sole ability to rebel against a corrupt government and the people who corrupted it and relies on their permission to do so - um... do you think anyone in this movement might be denied gun coverage based on their Patriot Act Score? (That may be next) They are using FEAR once again to subvert our rights. The economy is about ready to fall into the shitter and reliable, renowned economists are predicting a total economic meltdown in 2 years time. Why do you think they might want to make sure that only the elite carry weapons / only the people who can afford insurance or who are granted coverage to carry. Wow is all I can say. Step outside of your normal beliefs on gun ownership and please take a moment to contemplate the implications of this !!! Occupy this isn't good.

Guns are the people's INSURANCE POLICY against Corrupt Government

[-] 1 points by Theeighthpieceuv8 (-32) from Seven Sisters, Wales 5 years ago

There's nothing in your post I disagree with; I agree wholeheartedly - this is a government for and by the criminal, and they want to disarm us, one way or the other.