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I'm sure many cases have been exploited, but the SEC are only as strong as the budget they're given by the same elected officials who receive campaign contributions from companies like ENRON and MCI. I'm sure corporate fraud is frequently nailed, but I'm willing to bet it's not nearly enough.
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Just as every murder doesn't get solves, there are always going to be people who get away with it. Fortunately, when it comes to money, the shareholders can always file derivative suits to make ceos get off their lazy asses. They try to keep it as self-sustaining as possible which is fine by me.
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The truth is, corporations are really only beholden to a select few of major share holders. These shareholders are often involved with other corporations, and understand that the name of the game is making money, and if the persuit of that money means cutting a few corners, well why not?
You have criticized the apathy of the citizen, is it that different than the apathy of the investor? Have you not advocated compulsory serve for citizenry???
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The problem still is, is that even if they become more aware of what is going on, they are still going to be a minority shareholder, which means their individual vote counts for squat.
And as far as corporate entities, they are considered persons unto themselves. A fictional legal person which is why individuals aren't personally liable for this other person.
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