r/stocks • u/magenta_placenta • May 15 '24
Department of Justice says Boeing may be criminally liable in 737 Max crashes
Boeing has violated a 2021 agreement that shielded it from criminal prosecution after two 737 Max disasters left 346 people dead overseas, the Department of Justice told a federal judge in a court filing Tuesday.
According to the DOJ, Boeing failed to "design, implement, and enforce a compliance and ethics program to prevent and detect violations of the U.S. fraud laws throughout its operations."
The government has not yet decided if it will pursue prosecution of Boeing, but lawyers representing families of the victims who died in the crash said they hope to see further action in the case.
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u/GettingColdInHere May 16 '24
May ? There a definitely liable. Unless there is a CEO in handcuffs these bean counters won't mind playing with people lives for the sake of making their bonuses.
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u/Arlennx May 16 '24
The people in charge need to be jailed. They’re not even people. To let these planes fly knowing they POS that can crumble at any moment, should be an indicator that they’re psychopaths.
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u/Foampower86 May 16 '24
They killing mfs on the streets. They don't give a fuck. Aint nobody at boeing going to prison.
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u/335i_lyfe May 16 '24
It’s disgusting the lack of empathy and support Boeing showed the victims’ families after the tragedies
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u/longhorn617 May 16 '24 edited May 16 '24
The DOJ official who oversaw Boeing's deferred prosecution agreement left the DOJ six months after it was signed to become a partner at the Dallas office of Boeing's chief outside counsel on the case, Kirkland & Ellis.
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u/JoeSmith716 May 16 '24
Perfect way to destroy an industry. No one wanted planes to crash. Sorry, this is leftist bullshit.
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u/silverbax May 15 '24
Are you telling me that the company that put the planes together might be liable for those planes coming apart?
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u/Westboundandhow May 15 '24
Absolutely not. Sir, this is America. We protect big business at all costs. So sorry for your loss. Have you tried our new lie-flat product?
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u/stepsonbrokenglass May 15 '24
Civil liability = fines
Criminal liability for Boeing = other fines
Criminal liability for everyone else = prison
Can someone explain to me like I’m five as to what the distinction is with “criminally liable?” Realistically, do those words even matter in this context?
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u/peterpiper1337 May 16 '24
Executives can be held liable if there is enough evidence of malpractice.
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u/Dahleh-Llama 28d ago
Yea once in awhile they will serve up one of their own and pay him up the wazoo when he gets out. Sometimes all we need is a fall guy.
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u/stepsonbrokenglass May 16 '24
The bar for successfully litigating that is so incredibly high, it almost might as well not have time wasted on it. I think both sides know this and that’s why it continues.
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u/Westboundandhow May 15 '24
CoRpOrAtIoNs ArE nOt PeOpLe
They're just run by them (hmmm)
Aka how our judicial system enables problematic corporate behavior 101
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u/Businesspleasure May 15 '24
If there is one more major incident on a Boeing plane, there should be legitimate consideration for nationalizing the company.
It’s one of two makers of the world’s passenger planes, no matter how bad it gets we are all stuck with their products in the coming years. But the rot has clearly been in the company for decades, and attracting the talent, leadership, and eating the costs and investments needed to fix the pervasive problems in a burning building with extreme regulatory and criminal risk is getting to be an extremely tall order for a private company.
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u/Hamster_S_Thompson May 15 '24
Boeing or its executives. The execs need to go to prison. I don't want some byllshit fine.
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u/Westboundandhow May 15 '24
Executives don't go to prison. They just have their companies pay the fines and then make public statements about oversight reform, new policies, improved commitment to safety and transparency, blah blah buzzword buzzword and then fire a bunch of lineworkers to prop up the whole charade and foot the bill. Easy! Capitalism baby, yeaaa.
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u/Old_Tap_7783 May 15 '24
Boeing supplies our country’s Air Force, this is a play for the gov to control the company (preparing for war)
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u/goodbodha May 15 '24
Boeing execs from upper management down to the middle management who pushed aside concerns raised should all be punished. Execs should get serious jail time for both murder and for misleading future shareholders. The managers who pushed aside concerns should go into 2 baskets. Basket one is the folks who had stock options. They should get prison time as well. Basket two should be removed from the company and blacklisted from working on anything that the government will contract for or have to regulate.
Until execs and management get serious repercussions for stuff like this you can expect it to happen again. Their financial interests are not aligned with long term shareholders, society at large, or their customers. That has to change.
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u/Westboundandhow May 15 '24
None of this will happen. Only maintenance staff and whistleblowers will be fired. The real bad actors will laugh all the way to the bank. Ahhh the fresh stench of a capitalist hellscape.
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u/HughJass321 May 15 '24
All in the name of chasing that 0.05% of extra profit
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u/LizHurleyFan May 15 '24
All their investigations will end up blaming the pilots or suppliers instead of the management
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u/medievalrubins May 15 '24
Not sure if it exists in the U.S but corporate manslaughter is very serious in Europe, especially taught with Construction projects. Don’t see why anyone should avoid this?
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u/TraceChadkins May 15 '24
It’ll be avoided until the US government figures out how to wash their hands of the matter
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u/Potential-Witness-83 May 15 '24
Another round of money and power dont obey laws. Laws just for common people.
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u/ShadowLiberal May 15 '24
The fact that there was even an agreement in the first place to shield them from criminal prosecution is outrageous.
There's definitely some people at Boeing that should be getting charged with murder and criminal negligence for all the hundreds of people they killed.
The profit motive is simply not enough of a punishment to Boeing and their executives to get them to change. They're a huge public safety risk at this point.
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u/Westboundandhow May 15 '24
Your first paragraph also applies to how big pharma rolled out the cofid waxeen, using EUA status to avoid liability... and really to the concept of a whole separate system of courts and judicial procedures setup for V injury claims specifically, but I digress.
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u/robotrage May 16 '24
SO TRUE! You know who else avoids liability? Juries! make Juries liable! make Juries liable! make Juries liable!
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u/FCUK12345678 May 15 '24
Ha, Companies are able to get away with everything and they will pay off the right people including the DOJ. Bullish. This stock will sky rocket the more planes crash due to not spending money on safety. This is disgusting and i wish was not true.
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u/plasticAstro May 15 '24
Lmao Boeing got off with a slap on the wrist as long as they got their shit together and they couldn’t even do that.
I want the DOJ to nail this company to the fucking wall
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u/TheBelgianGovernment May 15 '24
Sure, like the DoD would allow that.
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u/OrderlyPanic May 15 '24 edited May 15 '24
It was the DOJ of the previous administration that gave them this deferred prosecution agreement in the first place.
https://prospect.org/justice/2024-02-09-boeing-max-doj-epstein-deal/
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u/thySilhouettes May 15 '24
Make the top executives criminally liable. Their decisions directly impacted the 346 individuals who died on those crashes. Safety should never be compromised for profit.
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u/superbit415 May 16 '24 edited May 16 '24
Make the top executives criminally liable.
Corporations will burn
Americathe world down to the ground before that ever happens.-5
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u/futurespacecadet May 15 '24
I watched the Deepwater Horizon movie today about how BP execs pressured the workers in not complying with cement tests etc. classic safety vs profitability, and those guys walked away scratch-free after dozens died…..so how will any of these dudes learn there’s consequences if there are none?
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May 15 '24
[deleted]
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u/ThreeSupreme May 17 '24
Umm... So, U must think rich people really have it easy, huh? It ain't easy counting all that money. Haha!
Some of the wealthiest people in the US inherit their wealth
Contrary to popular belief, not all of the wealthiest people in the US are entrepreneurs that make fortunes by building businesses. A great deal of wealth in the US is passed on from one generation to another through inheritance.
- Around 41.4% of the wealthiest one percent say they have inherited some money.
- Fully 37.8% of the wealthiest 10 percent of families say they have inherited money.
Top 10 percent of wealthy people in the US own lots of stocks
The top 10% of the wealthiest people in the US have a significant ownership of stocks. According to Federal Reserve data, the top 10% of Americans held 93% of all stocks, the highest level ever recorded. This figure highlights the role of the stock market in wealth accumulation and inequality. Despite the rise in retail trading and broader market participation, the gains and wealth created by the stock market are not being widely distributed. It’s important to note that while stock ownership can contribute to wealth, it’s not the only factor.
The top 5 richest families in the US
Here are the top 5 richest families in the United States:
- Walton Family - Net Worth: $247 billion. The Waltons are the richest family in the United States, with a net worth of $247 billion. Sam Walton founded Walmart, the largest retailer by revenue in the world.
- Koch Family - Net Worth: $100 billion. The Koch family is the second wealthiest family in the United States.
- Mars Family - Net Worth: $94 billion. The Mars family’s assets come to $94 billion, making them the third-richest family in the United States.
- Cargill-MacMillan Family - Net Worth: $47 billion. The Cargill-MacMillan family comes in at rank 4 with a fortune of more than $47 billion.
- Lauder Family - Net Worth: $40 billion. Following the Cargill-MacMillan family is the Lauder family, with a net wealth of $40 billion.
These families have built their fortunes through various industries, including retail, diversified investments, candy, agribusiness, and cosmetics.
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u/reformedlion May 15 '24
And guess what happens when ai gets good enough that there is no longer a need for people to wipe their asses.
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May 15 '24
[removed] — view removed comment
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u/adoodle83 May 16 '24
the government is in bed and funded by the CEO class
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u/dissentmemo May 16 '24
And that's why the DOJ is saying they're liable? What is the DOJ? Not government?
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u/TurbulentAardvark345 May 16 '24
They ‘haven’t decided’ on prosecuting ‘yet’.
We’ve seen this one a million times. Just let it fade from the public consciousness and then oops it happens again
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u/adoodle83 May 16 '24
they said, 'may be'. not that they are. and that assumes they DECIDE to prosecute.
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u/Aleyla May 15 '24
I hope the criminal enforcement is allowed to proceed and I hope the costs to boeing for all of this serves as a warning to future bean counters that “safety” should not be compromised as part of the calculus to save a buck.
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u/dasdas90 May 15 '24
Unfortunately some lower level employee will probably be punished for this, instead of the executives who made the decision.
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u/five-oh-one May 15 '24
Joey, down in receiving, didn't sign for the delivery properly.....15 years in jail.
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u/1LazySusan May 15 '24
Accountants and budget cuts built these planes.
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u/WasteCommunication52 May 16 '24
As an accountant, I can assure you we have 0 input on any decisions.
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u/1LazySusan May 18 '24
“Accountant” is used loosely here, it’s more the bottom line/ cheapest cost cutting.
Im aware accountants don’t build $BA planes.
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u/doringliloshinoi May 15 '24
And throat cuts… as of late
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u/puterTDI May 15 '24
where's an example of this?
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u/Krasmaniandevil May 15 '24
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u/rol-rapava-96 May 15 '24
The article you sent said he had a bacterial infection which caused the death. Are you implying something?
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u/puterTDI May 15 '24
yes, a conspiracy because those are everywhere.
/s in case it wasn't obvious.
This is the core of what i was getting at with my question. There's absolutely no evidence except that someone died who happened to have been a whistle blower previously.
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u/BlazingHowl777 28d ago
As someone with non killable info.. they should be