<All of the top managers should be held responsible for the failure. They are (were) paid way too much money to be asleap at the wheel. They deserve to lose everything they own in stockholder lawsuits. They should be personally liable for any losses incurred by their failure to manage the business responsibly.

I'm not sure how far a CEO can legally be held financially responsible for a corporation's losses outside the corporation--after all that's the point of BEING a legal corporation in the first place, otherwise it would just be a really big sole proprietorship. Still, I agree that the top guys should take the heat. Corporate CEOs get paid super bucks when a company does well, so apparently they are considered responsible for corporate success, and more power to them as far as I'm concerned. But the other side of the coin is that they should be the ones on the spot for the failures as well.