Shares dived, and billionaire Martin Ebner, the predatory Swiss shareholder who forced a merger between UBS and Swiss Bank, began buying heavily into ABB's stock.
Shares dived, and billionaire Martin Ebner, the predatory Swiss shareholder who forced a merger between UBS and Swiss Bank, began buying heavily into ABB.
Lawsuits by federal regulators and shareholders have surfaced tales of predatory lending, abusive collection practices and document fraud.
Loyalty shares are part of the insurer's efforts to secure a substantial base of committed retail shareholders in order to protect against predatory stake-builders during its first months as a listed company.
Others cite everything from global capital flows, lousy regulation and shareholders' incentives to regulatory capture, inequality and "predatory borrowers" who gamed the system to extract credit.More disturbing still is that even some basic facts are not agreed upon.
Small surprise, then, that so many of the recent bailout packages have allowed failed bank CEOs to stay in power and saved their shareholders from bad investments in inept, even predatory, companies.
The most effective way of curbing predatory practices is to withdraw limited liability and hold the shareholders and directors of these enterprises personally liable.
Bailing out big banks and their executives and shareholders and not holding anyone accountable, while letting predatory corporations continue their economy-draining practices has not only kept the worst parts of the "share of the wealth" problem in place, it has undermined people's faith in government and demcoracy.
One is to dramatically restructure markets so that private sector outcomes are less inegalitarian -- for example, by enforcing antitrust laws, breaking up the monopolies and oligopolies that dominate the U.S. economy, giving workers more say in how companies are managed, cracking down on predatory finance, and curbing the political influence of wealthy managers and shareholders.
Shouldn't there be government examination of the role of PricewaterhouseCoopers (PwC), accountants to the great and good, whose duty is to protect the shareholders and employees of these corporations from the wilder shores of predatory capitalism?
