Government Regulations - good, somewhat good or no good at all.
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  1. #1
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    Feb 2008
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    Default Government Regulations - good, somewhat good or no good at all.

    For years the UK Governments (both parties) have worked to cut down on Government Regulations under the assumption
    less regulations would help the economy. The same moves are now under way in the US. Banks are happy with Trump for wanting to remove regulations put in place after the big banks ran the world economy within 5 min. of a total collapse
    under the Bush administration and had to be bailed out by the tax payer.
    Now - after the big fire in London the screaming starts about the insulation used on the building when it had been forbidden in the US since 2012.
    The battle cry in London was for years:"Get government out of my business". "I know what is best for my business".Sound familiar?
    Where does business stand when it comes to self regulate as many are promoting. Who will bail them out when things go wrong? You guessed it: The tax payer! The company will just declare bankruptcy. The owners - just in case you don't know - there is a big rush to convert to LLC and that way keeping the owners out of harms way.
    Yet - if one country decides to cut regulations for it's businesses and banks it opens up a big advantage for them when compared to other countries requiring that regulations must be met before they are allowed to do business.

    In the absence of express statutory guidance, most American courts have held that LLC members are subject to the same common law alter ego piercing theories as corporate shareholders. However, it is more difficult to pierce the LLC veil because LLCs do not have many formalities to maintain. So long as the LLC and the members do not commingle funds, it would be difficult to pierce this veil.[5] Membership interests in LLCs and partnership interests are also afforded a significant level of protection through the charging order mechanism. The charging order limits the creditor of a debtor-partner or a debtor-member to the debtor's share of distributions, without conferring on the creditor any voting or management rights.[citation needed] Limited liability company members may, in certain circumstances, also incur a personal liability in cases where distributions to members render the LLC insolvent.[6]

  2. #2
    Join Date
    Jul 2009
    Peoria, IL
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    Pretty standard human behavior. No one wants to be told what to do. Also, no one wants anything bad to happen to them or someone else. Keeping those two desires in balance has been a challenge since the beginning of society.

  3. Likes KilrB liked this post
  4. #3
    Join Date
    Mar 2006
    Cape Cod, Massachusetts
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    Huh? Wah?

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