A degree of impossibility at solving the envisaged problems using simple available techniques strikes me and in the name of the disenfranchised shareholders I think some seriously radical but smart moves are needed. say, as radical as one might measure the radical nature of the taxpayers bailout of our corporate ‘overpaid lazy crooks’ run companies. Is there a ‘radical’ meter? Only the human educated brain?
Firstly, in the name of those business virtues, transparency, honesty, openness and real talent of the directors and executive, give every shareholder the same vote then the board has to be armed with real ‘convincing’ arguments (transparent, honest, open and display real talent) to achieve its purpose. This arrangement can let the enemy in with influence but board powers (and talents) can overcome these dangers. They’ll have to work - harder.
Secondly, to suppport this, one needs an indepemdant judicial body (arbitrator) to take complaints from shareholders about directors and/or from directors about shareholders. It has to have the talent to be a productive pain in the bum of boards who would then quickly learn how to do their job properly and avoid the pain in the bum. (the ‘back to kindergarten’ phenomenom)

The recent almighty, massive expense to the taxpayers of the multiple global bailouts makes the expense of these ideas trivial in preventative expenditure terms while they will result in major quality added to business and life in the sophisticated western world.

NOTE: There is a move by global experts to have international financial rules (like the Aussie APRA) with international law accountability.

Hope S&C were not paid too much for preparing transcripts!