Stephen Bainbridge says “yes.” Even if your first reaction is negative, read what he has to say. The present state of affairs is hardly ideal, and the change would offer advantages. It seems likely Corporation B would end up with a much more active and better informed board of directors. I can’t claim to have thought through all the implications, but the idea is intriguing.
The one downside I can immediately see is that we would end up with a lot of retired politicians holding up signs at intersections: “Will consult for food.”