Yesterday we explained that Bruce Wayne–who fights street crime and evil clowns by night–has all the markings of a corporate criminal. We even went so far as to explain that Wayne seems like exactly the “better class of criminal” that his nemesis The Joker claims Gotham City deserves.
Some of you fanboys disagreed!
But it turns out we’re not alone in seeing the criminality of Bruce Wayne. Smart lawyers and law professor types agree with us! And it’s not just criminality: Wayne–and his Batman alter-ego–bring up a whole host of legal issues. After the jump, a quick summary of Wayne’s white-collar criminality and litigation inviting ways.
“Bruce Wayne has other securities law problems,” writes Ted Frank at OverLawyered. “By using front buyers to purchase more than 5% of the publicly-traded Wayne Industries without disclosing his controlling role as a beneficial owner, and then taking over the corporation, he has violated multiple provisions of the Williams Act, the only securities law named after a convicted felon, and is subject to federal criminal penalties, as well as civil lawsuits.”
Larry Ribstein explains that lionizing corporate executives who pursue their own agendas at the expense of shareholder wealth is pretty typical of Hollywood movies. “Actually, as I’ve written in Wall Street & Vine, this is fairly consistent with films’ view of capitalism over the years: business is fine, it’s shareholders that stink,” Ribstein writes. “From this standpoint Batman is not really a criminal. In using the shareholders’ money to fund his crusade, he’s just following in the footsteps of another popular hero — Robin Hood.”
And it’s not just shareholders who are suffering at the hands of Bruce Wayne’s vigilantism. Innocent property owners are taking the hit too.
“Just how many millions of dollars in property damage did Batman inflict on Gotham in that one night? And how are those poor property owners going to explain things to their insurance company?” asks Stephen Bainbridge. “Plus, if the mob runs the construction business and unions in Gotham, Batman’s rooftop drives are helping subsidize organized crime.”
We only wish Wall Street Journal were published in Gotham. We’d love to read Kate Kelly’s take down of Bruce Wayne.
“Batman Begins”: Bruce Wayne, Defendant
Batman as a better class of criminal [Ribstein]
Batman: Broken Body, Broken Property, Broken Laws [Bainbridge]
really, john? you might as well write a book on the subject.
first
@8:52– no, please don’t.
Batman and Robin, get it?
IT’S NOT CHEATING CUZ IT’S YOUR DOG… GET IT?!?!
Portfolio has a fun look at this in a more general sense, comparing Bruce Wayne and Iron Man’s Tony Stark as C.E.O.’s
http://www.portfolio.com/interactive-features/2008/07/Superhero-CEO-Smackdown
Portfolio has a fun look at this in a more general sense, comparing Bruce Wayne and Iron Man’s Tony Stark as C.E.O.’s
http://www.portfolio.com/interactive-features/2008/07/Superhero-CEO-Smackdown
It has really gone too far when people are trying to speculate on what random people in movies are going to say when they explain their property damage to insurance companies in movies.
Carney’s take is smarter and better written than Portfolio’s.
9–portfolio’s is a chart
I much prefer the fictional 15 wealth run down, though I do disagree with some of their placements. [+ I'm surprised Trump didn't make their fictional wealth list]- C
http://www.forbes.com/2007/12/11/fictional-characters-wealth-oped-books-fict1507-cx_de_mn_1211fictionalintro.html
I am thinking that when you live in a world with super criminals, unlike the world in which we live, there are other things that exist in that world that probably differ from current reality, like certain laws.
The securities laws were completely changed (but not highlighted in the film) so as to make Batman in fact not in violation of the law.
But the writers did not really want to make “Batman: The Years of Regulatory Change” in order to help certain lawyers use their imagination.
As to the insurance aspect, I am sure Bruce can set up an insurance company to satisfy claims against Batman inspired damage. (Not to mention the huge offshore reinsurer that all the Superfriends setup to back their personal insurance companies).
This was quirky fun yesterday. Beating a dead horse today. Sorry, John. I’m usually your biggest fan.
i think i saw batman: years of regulatory change in continuing ed. good start, dissapointing conclusion.
Regarding the use of “after the jump” on this site, please see definition #2 from the Urban Dictionary: http://www.urbandictionary.com/define.php?term=after+the+jump
T.G.
holy homelife, batman is arrested! (although not for being a white collar criminal)
http://www.cnn.com/2008/SHOWBIZ/Movies/07/22/bale.questioned.ap/index.html
Back.
Anyway, Brucie Boy said it best himself in his Congressional testimony:
“Of course we’re criminals. We’ve always been criminals. We HAVE to be criminals.”
There you go.
M
Oh, and re: damages… there has been at least one Marvel comic miniseries dedicated to the people who clean up after super-battles, which explains why New York, etc, are not just huge piles of debris. They’re like Servicemaster, only with hyper-tech. IIRC the outfit is called… wait for it… “Damage Control.” I’m sure they have something similar in the DC comics.
M
Who do you think they will get to play catwoman? Marilyn Monroe? Dig her up!
Apparently I’m the only person who didn’t see batman yet, and after Carney’s obsessions thus far this week, I’m not so sure I can sit through it without pondering the ramifications of the Bat’s deeds. Thanks for saving me $20 Carney!
Carney’s foreskin + a brillo pad + my elbow grease = :-)