Oop! >>> Incorporation was devised to precisely “distinguish the - TopicsExpress

Oop! >>> Incorporation was devised to precisely “distinguish the corporation’s activities from those of the owners.” Until Hobby Lobby, a corporation was not its owners, and that separateness was the “foundational principle of corporate law.” The principle is known as “the corporate veil,” because regardless the personal fortune earned through the corporation, creditors have no legal recourse to recoup their losses, and federal regulators can never pursue a corporation’s owners for malfeasance; that all changed dramatically with one very ill-advised Supreme Court ruling. When the Catholic conservatives on the High Court ruled that Hobby Lobby Incorporated and the Green family are one in the same due to “its” religion, they effectively tore away the corporate veil making owner(s), shareholders, employees and CEOs personably liable for anything the corporation does. -- Politics USA

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