My impression is that the Chinese microcaps have screwed US shareholders for their own benefit.
Who's benefit? You are starting to become annoying now.
Parent, the government, the BOD, has a fiduciary duty to act in the best interests of the shareholders. The government owns the stock. It is not owned by individuals. So WHO will benefit?
That doesn't mean there aren't crooks out there. But they are people. People like Solomon. It is not the government who screws people. They have everything to gain by making a good impression.
That doesn't mean things can't go wrong. It can. But even that usually happens when one person makes a mistake. Not an entire apparatus.