Rubio introduces bill that would let shareholders to sue corps if they put wokeness over profits

[Torie]

How on earth would one prove up this case? Your honor, we did some voluntary wokeness  at the cost of some short term profit now, in order to avoid a much bigger long term profit loss that would ensue when a more Draconian form of wokeness actually became law, because the mob would get angry and ravenous if we did not throw them a bone now. I refer you to War and Peace, where raw meat was tossed from the sleigh to divert the wolves so they did not devour the human sleigh passengers instead. The less time Bernie Sanders has us on his mind the better.

[Torie]

One thing that Rubio misses here is that his proposal even in his universe is "unneeded." Why? Because if a corp is really not paying much attention to profits, e.g., because its main goal is to make AOC happy, it will be subject to a hostile takeover. That is what hostile takeovers are all about, to get rid of management that is not deploying corporate assets in a profit maximizing way to such a degree that it becomes profitable to incur the transaction costs of effecting the hostile takeover. The market is self correcting in this instance.