This is George Monbiot on limited liability in the Guardian today:
To allow the owners of a limited company to risk nothing but the money they have spent on shares is to grant them free, uncapped indemnity against the risks they impose on others. It’s the equivalent of permitting drivers to take to the roads without buying insurance, knowing that if they cause a crash they will carry no more than the cost of replacing their own car, regardless of the expense, injury and death they might impose on others.
I can only agree, although I do not wholly agree with his prescriptions.
The answer is full accounts on public record.
And accountability to stakeholders.
And higher tax as the risk charge.
Plus removal of limited liability if obligations are not met.
But they need more time than I have to discuss.