Ask HN: Do US presidents have less fiduciary liability than CEOs?

Posted by stopbulying |3 hours ago |11 comments

markus_zhang 31 minutes ago

Ancient Chinese wisdom:

刑不上大夫

High-ranking officials are exempt from criminal punishment.

And if they do, it is because they have crossed some red lines.

lyaocean an hour ago

CEO fiduciary duties are enforceable by shareholder litigation, while presidential duties are mostly checked by elections, impeachment, and courts, so accountability is weaker and slower.

Bender 3 hours ago[1 more]

Do presidents have less fiduciary responsibility than CEOs?

Yes. Presidents and CEO's are entirely different roles and have entirely different legal obligations. CEO's and CFO's have significantly more fiduciary responsibilities to investors, shareholders and board members. The president of the USA has responsibilities to uphold the constitution, act as the commander and chief to the military, faithfully execute the laws among a myriad of other executive tasks.

stopbulying 3 hours ago

If a CEO were to "starve the beast" by intentionally increasing expenses and reducing income, wouldn't that be criminally prosecutable?

Starve the beast https://en.wikipedia.org/wiki/Starve_the_beast

stopbulying 3 hours ago

Why don't the US Senate ethics rules like "QBT (Qualified Blind Trust) or specific approval" apply to the Executive and the Executive Cabinet?