Bob Monks reports that “the majority of shares of American companies are owned in trust for a hundred million Americans. And yet the notion of trust has been superseded by an economic notion and there is a doctrine of law in economics and there are courts who have said, in a sense, obey the law if it’s cost-effective.”
Economics is an insufficient base for exercising the legal responsibilities which trustees are, in any case, failing to exercise. The cure is to enforce existing laws.