We should really stop the limited liability for shareholders. You own part of company and it does something criminal. You too are going to jail. Would clean up the acts very fast.
Aren't CEOs paid "that much", because they carry all those responsibilites? If they're responsible enough to get so much money, they're responsible enough to deal with the consequences of fucking up.
I believe the general argument here would be that if you invest in a company and they later are caught doing something illegal or unpopular, you suffer when your shares lose value.