(May 5, 2013 at 3:48 am)Dragonetti Wrote: The company only had $1 million policy, but did over $100 million in damages.Erm, so what? That only means that the other $99 million in damages should come out of the company's pocket. I don't find it shameful that the company took out such a small policy; I find it rather stupid considering the amount of danger surrounding the plant.
http://www.washingtonpost.com/business/a...story.html
What I find shameful is that the people responsible are likely just going to claim bankruptcy and get away with their crimes. What should happen is the following:
1) Investigate who was responsible for safety at the plant.
2) Prosecute them all, with damages and possible criminal convictions aimed at those people.
3) Divide up the money from the damages and the insurance policy amongst the people who have a valid claim to it.
(May 5, 2013 at 6:51 am)festive1 Wrote: And this would be a good example of why I think there should be more government regulation of business, not less.I think that is a emotional reaction, and not a well thought out one. Yes, government regulation can sometimes help, but remember to a large degree it also stifles out small competitors who cannot afford to comply with government regulation, yet are perfectly safe businesses.
