Quote of the Day

“This is mistaken and counter-productive — even dangerous. No one man or woman is or should be so vital to a company’s existence that they cannot be punished for wrongdoing. This is essentially the principle of too big to fail, brought into every corporate boardroom. If you have a reckless CEO who can’t be fired because it would hurt the company, then you don’t really have a company; you have a cult.” — David Dayen on the SEC‘s kid-glove treatment of discredited CEO Elon Musk.