Republicans are always screaming about accountability in the government - and a certain amount of checks and balances are definitely needed. But why do we not make a law that places responsibility on stockholders as well as company CEOs. Is this not similar to the governmental oversight conservatives want?
This kind of business regulation sounds harmless enough, but in fact would send shock waves through our capitalistic economy. People considering investing in a particular company would examine more than just the bottom line. They would (at least I would hope so) look at the companies employee safety record, what sorts of resources are used and how the company is perceived in the surrounding community.
If I were going to invest in a company knowing that I could be held responsible, at least in part, for the company’s failure to comply with certain regulations or laws, you had better believe I would do my homework!
At this point however, If a company inappropriately dumps toxic waste, for example, and then goes out of business the American people are the ones footing the bill for the clean up!