mordechai9000Private equity turned vulnerable elderly people into human ATMs
Private equity didn't. People did. We really need to get rid of limited liability and corporate fictions.
The intentions may be good but that's unlikely to happen in our lifetime.
What might be a more feasible solution?
Don’t require states to uniformly respect limited liability granted in other states. Allow them to add limits, requirements, etc. let the different states explore the trade off.
Oof, talk about making compliance difficult and expensive if a company has 50 different sets of regulations to comply with to do business in the US.
multi-generational households
I would rather have access to a suicide pod.
careful dont let private equity hear you say that
Revoke corporate charters. Prevent and break up consolidation.
All corporate entities require a registration to operate in a state if they have a physical presence.
In this instance, you can also pass a law along the lines of "After setup, all care homes are required to spend 90/95/99% of their income on direct care of the residents or your charter gets revoked." This would prevent the incentives to buy them in the first place.
People created limited liability and private equity. Fiction is not something you get rid off. Its something you live with. It is a permanent side effect of how the over rated Humam Brain works. The brain makes predictions over multiple time horizons. When there are contradictions between these predictions how is the 3 inch chimp brain supposed to handle it while not splitting? Make up a story for the sake of coherence. Everyone is doing it everyday. They are all making up fictions to handle unpredictability.
There are a finite number of legislative girders underpinning the judicial capacity to support these fictions. When they're removed, it will not be legally possible to maintain them. They are not a product of nature, they are a product of real humans, and as such are subject to human change and intervention. They are among the least durable constructs we interact with.