It has been proved that the London apartment building fire was caused
by companies that knowingly disregarded building standards to made the
building a firetrap. What follows from that?
I am sure people can think of more effective regulatory systems.
The reason they are not in place in the UK is that the government
has catered too much to business. Corbyn would have fixed that.
But I have two other recommendations that may shock the people
who expect that business will always be above human beings.
-
Place criminal charges against the individuals who made these
dangerous decisions that resulted in deaths. That will teach
people not to expect to they can get away with this.
How about 72 charges of homicide for each one?
-
Prohibit companies from being owned by anything like a private equity
fund. Give those funds a deadline to liquidate their assets and return
the funds to the investors; on that date, seize whatever property they
still own. In the interim, don't allow funds to take any profit out of
these companies; that profit should stay in the individual company
until it is sold. The buyer will therefore pay for that profit, but
this will eliminate the fund's incentive to drain the company dry
before selling it.