House of Cards How Joe Biden helped build a financial system that's great for Delaware banks and

[ancianita]

11. He contributed to the DE system that was already IN place at the ratifying of DE as the first state.

Delaware has been on the second tier of the U.S. tax haven pole for the world since before Biden showed up teaching corporate law and commuting to DC.

Delawareans get a patriotic glow from living in the First State to ratify the Constitution. But from 1899 on, DE's government, established what they called General Corporation Law, and advanced corporate interests at the expense of shareholders and other stakeholders getting redress. Long before WWI, DE was already being accused of leading the country in a "race to the bottom."

Sure, Biden knows all about Delaware being the largest extra-jurisdictional tax haven in the U.S., with Nevada about to take over. Its banks were way ahead of him for a couple of centuries.

While all this tax hoarding appalls us, it's been around since the 19th Century. Knowledge of Delaware as THE incorporation state has been around along time, too; but only on a 'need to know' basis for Americans in general. Over half of US publicly traded companies and nearly 2/3 the Fortune 500 are incorporated in Delaware, mostly at 1209 Orange St in Wilmington.

A truly great read on the map of corporate and private global hoarding, etc. is in the classic, Treasure Islands -- Tax Havens and the Men Who Stole the World (2011) by Nicholas Shaxson.