The most egregious exploiters of the current S corporation advantage are shareholders in personal service corporations, generally those companies in the business of providing services in the fields of health, law, engineering, architecture, accounting, athletics, or consulting.
In so doing, Henry Paulson has acted in a manner that not only appears to smack of a conflict of interest and egregious disregard for the public's fiduciary interests.
Perhaps the most egregious example of the company's insularity was the way it held out for more than 20 years against the use of credit cards, launching its own store card instead.