Perhaps the wheels of justice are beginning to grind the bankers.

Running a business which is shielded by the concept of liability being limited, not to its members, but to the capital that the members have contributed brings great privileges, because the members of the business have limited their risk and in doing so expose potential creditors to risk. If you operate a business as a human or in partnerships with other humans, you risk every last asset you own if things go wrong. If you operate through a corporation, you run no personal risk, unless you have misbehaved or acted illegally. However, you may think, that no one can be forced to provide credit to a limited liability company, but in some field of business people are cajoled, enticed and often required to provide credit and have no option but so to do. This is most apparent in the banking sector. Continue reading