Reply #24: All true - but it doesn't make the pillaging ok. [View All]

[rman]

Rather it is the reason why corporations should be stricktly regulated, and should not be allowed to manipulate the regulator. The regulator is the government, and not only is there a powerull corporate lobby, but we actually have corporate people in the government.

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"In 1776 we declared independence not only from British rule, but also from the corporations of England that controlled trade and extracted wealth from the US (and other) colonies. Thus, in the early days of our country, we only allowed corporations to be chartered (licensed to operate) to serve explicitly as a tool to gather investment and disperse financial liability in order to provide public goods, such as construction of roads, bridges or canals.
After fighting a revolution for freedom from colonialism, our country's founders retained a healthy fear of the similar threats posed by corporate power and wisely limited corporations exclusively to a business role. These state laws, many of which remain on the books today, imposed conditions such as these:

- A charter was granted for a limited time.
- Corporations were explicitly chartered for the purpose of serving the public interest - profit for shareholders was the means to that end.
- Corporations could engage only in activities necessary to fulfill their chartered purpose.
- Corporations could be terminated if they exceeded their authority or if they caused public harm.
- Owners and managers were responsible for criminal acts they committed on the job.
- Corporations could not make any political contributions, nor spend money to influence legislation.
- A corporation could not purchase or own stock in other corporations, nor own any property other than that necessary to fulfill its chartered purpose."

source: Reclaim Democracy
http://reclaimdemocracy.org/
Corporate History Primer
http://reclaimdemocracy.org/pdf/primers/hidden_corporate_history.pdf