Agreed, the real problem here is corporate personhood (http://en.wikipedia.org/wiki/Corporate_personhood).
Businesses have something approaching the full rights of a human being, except, as the quote goes "They (corporations) have no soul to save and they have no body to incarcerate."
Combine this with the ideas of limited liability, proprietary knowledge, and the common practice of boards of directors being friends with the executives they appoint, and what you have is a class of corporate management run amok with little or no accountability to shareholders. Management has access to billions of dollars to spend towards their own interests, which in many cases are not the interests of the shareholders.
That said, I believe the government does have the authority to dissolve corporations, so a repeat felon corporation could be dissolved or fined into non-existance, although I don't know of any time this has happened before. The US guidelines to sentencing organizations (http://www.ussc.gov/2009guid/CHAP8.htm) mention fining an exclusively criminal organization of all its assets, but I see no mention of dissolving repeat offenders. Maybe someone else can chime in here.