Shareholders must be held responsible individually

So, are you personally on the hook here because the company managing your pension fund is holding stocks in LG? Because that technically makes you a shareholder as it was bought with your money, right?

Edit: not sure why I get downvoted, this is a legitimate concern/nuance to the debate. The managing company doesn’t own these stocks so they’re not the shareholders, that’s the people whose money they are managing, but these people are not directly in control of the funds. Who is the liable party in this?

The fact that a pension fund can hold shareholds is crazy by itself, also, is the pension found a company or managed by your state? It shouldn’t really be a thing in first place

is the pension fund a company or managed by your state?

Both in my case, as there are both the government pension fund that is mandatory and the one used by my employer which uses one of the large primary pension institutions in my country.

Is it a bit weird that I don’t just manage all my pensions myself? Yes, a bit. But it’s how its done in my country and it has some tax benefits compared to getting the money in hand and investing myself.

Is it a bit weird that I don’t just manage all my pensions myself?

Naah, at least, i don’t know anyone that does it in my country

Me either. My union pension is controlled by the union and managed by a bank as far as I can tell.

The highest level employee/officer who had knowledge of it should be held responsible

You mean the CBO[^1]? Because the higher level officers didn’t know anything about it and you can’t prove they did.

[^1]: Chief Blame Officer

you can’t prove they did.

I mean, depending on the scale you probably can with investigation.

Being deliberately ignorant should not be a defense. Just like it isn’t for the peasants.

It doesn’t matter how many layers of evasion there are. Responsibility has to be with individuals in order for there to be change.

That might stop this madness.

See the thing is if your pension also funds a murder company does outsourcing who manages it not make you at least a little culpable? I think it does and i think the only way to stop this madness is for a little justice to come your way.

does outsourcing who manages it not make you at least a little culpable

What if i have no control over who manages it? I have two, one is government managed and mandatory, the other is part of my salary (and mandatory) and who manages my company paid pension is decided by my employer. I have no control of either aside from general risk profile and high level market groups on my company paid pension (e.g. “tech” or “renewable energy”).

That just sounds like a good way to destroy index funds.

Okay.

90 percent of stocks are owned by ten percent of Americans. Just throwing this fact out here

Also, which shareholders? Shareholders have no say in the business decisions outside of the annual voting for board members and whatever broad issues are brought up for a vote. If someone holds stock and then sells it before a vote, are they responsible for the business decisions? If a swing trader bought and then sold in one day/week/month (even at a loss), how much is their liability? If someone sells their shares just before a vote, then buys them again after, are they liable?

If I don’t get executive say in what happens at the company, I am not included in liability. I am not allowed to sit on the damn board with my pension fund.

Executives and controlling board members get held personally liable. It really is as simple as that. If you are in the meetings, and you get a vote, you are liable. There is absolutely no slippery slope fallacy here.

Any bullshit “uhm actually you technically are a shareholder” is just trying to ward off people having to take responsibility for their decisions. (also, in many pension schemas you aren’t actually the shareholders, the investment fund technically is and you are just given the license to decide how they invest those funds and get a portion of the payout, but it is different than manually retail investing for example)

Not shareholders. Decision makers. Upper management. Shareholders should pay in share value (the financial penalty to the corporations should be high enough to affect that), bu the personal an criminal responsibility belongs to managers, CEO in particular.

There should at least be something resembling an attempt of investigating, who, where, and when signed an order to implement this shit into their products. That way they will at least think twice if they want to risk the chance of being held personally responsible.