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david derouen

Ultimate Civics » Blog Archive » Corporations Are Not Persons - 0 views

www.ultimatecivics.com/?p=19

28th amendment shameful readthis progressivesunite

shared by david derouen on 21 Jun 09 - Cached
  • david derouen on 21 Jun 09
     
    By Ralph Nader & Carl J. Mayer New York Times, April 9, 1988 Our constitutional rights were intended for real persons, not artificial creations. The Framers knew about corporations but chose not to mention these contrived entities in the Constitution. For them, the document shielded living beings from arbitrary government and endowed them with the right to speak, assemble, and petition. Today, however, corporations enjoy virtually the same umbrella of constitutional protections as individuals do. They have become in effect artificial persons with infinitely greater power than humans. This constitutional equivalence must end. Consider a few noxious developments during the last 10 years. A group of large Boston companies invoked the First Amendment in order to spend lavishly and thus successfully defeat a referendum that would have permitted the legislature to enact a progressive income tax that had no direct effect on the property and business of these companies. An Idaho electrical and plumbing corporation cited the Fourth Amendment and deterred a health and safety investigation. A textile supply company used Fifth Amendment protections and barred retrial in a criminal anti-trust case in Texas. The idea that the Constitution should apply to corporations as it applies to humans had its dubious origins in 1886. The Supreme Court said it did "not wish to hear argument" on whether corporations were "persons" protected by the 14th Amendment, a civil rights amendment designed to safeguard newly emancipated blacks from unfair government treatment. It simply decreed that corporations were persons. Now that is judicial activism. A string of later dissents, by Justices Hugo Black and William O. Douglas, demonstrated that neither the history nor the language of the 14th Amendment was meant to protect corporations. But it was too late. The genie was out of the bottle and the corporate evolution into personhood was under way. It was not until the 1970's that corporations
thinkahol *

LRB · Stephen Holmes · Free-Marketeering - 0 views

www.lrb.co.uk/...free-marketeering

LRB · Stephen Holmes Free-Marketeering

shared by thinkahol * on 28 Feb 11 - No Cached
  • thinkahol * on 28 Feb 11
     
    The anti-globalisation movement suffered a dizzying setback on 9/11. Symbolic gatecrashing into the well-guarded meeting places of the super-rich suddenly seemed a much more sinister activity than before. Busting up branches of Starbucks and other Seattle-style antics became anathema in an atmosphere of injured and vindictive patriotism. But Naomi Klein, the combative theorist and publicist of anti-globalisation, was not about to accept such guilt by association. Her reply, The Shock Doctrine, deals with the corporate acquisitiveness that she sees as ravaging the planet and reformulates the ideas of the anti-globalisation and anti-corporate movements for a post-9/11 world. Klein believes she has found the answer to a question that has perplexed many on the left: if every modern American government has been a tool of powerful business interests, what, if anything, makes the Bush administration uniquely odious? Her answer is that the Bush administration draws its political support not from America's corporate class generally, but rather from a particular part of it: 'the sprawling disaster capitalism complex'. She has in mind the companies that reap huge profits from catastrophes, both man-made and natural. They include defence contractors, arms dealers, high-tech security firms, the oil and gas sectors, construction companies, private healthcare firms and so on. Not exactly ambulance-chasers, they are driving the ambulances themselves - for a profit. For the most part, they capitalise on emergencies rather than deliberately bringing them about. But the distinction is not always so clear: the stock price of Lockheed Martin, the world's largest defence contractor, almost tripled between 2003 and 2007 after a former vice president at the firm chaired a committee agitating for war with Iraq. The Iraq war was also 'the single most profitable event' in the history of Halliburton, whose former CEO, who still retains stock options, is Dick Cheney.
Skeptical Debunker

Prudential-AIG Deal Another Case of Corporate Empire Building - 0 views

moneymorning.com/...prudential-aig

AIG Prudential deal analysis

shared by Skeptical Debunker on 05 Mar 10 - Cached
  • In spite of its new whizz-bang CEO, Prudential is a slow-moving but very reliable organization with a level of integrity that is trusted by policyholders. Frankly, that's what you want in an insurance company. I have had a modest U.K. pension with one of its competitors since 1980, and I am constantly worried that some leveraged buyout (LBO) artist will step in, take it over, change the computer system so that information gets lost, outsource customer service, and drive the company into bankruptcy. If you're buying life insurance or pension services, you want a company that's not going to disappear in the next 30 years, and doesn't change its address or computer system too often. Avoid a company like the plague if it is run by whiz kids. However, that's what AIG was like. We know how AIG operated; a guy who thought betting the ranch on the credit default swap market was a good idea ran it. Its Asian operation is no doubt full of similarly clever ideas. Even in the unlikely event that everything there is on the level, the cultural clash with an old-fashioned British insurance company is huge. And why would you pay a PREMIUM for an AIG operation? Like the Kraft/Cadbury deal, Prudential's takeover of AIA is value-destroying. Also like Kraft/Cadbury, it looks likely to destroy a valuable part of the British economy that millions of people have relied upon for generations - only this time the destruction will be caused by the buyer rather than the target. As shareholders we need a new form of corporate governance. Those in management are hired hands. In the old days, large shareholders used to treat management as they would have treated their butler - and management was equally deferential to the owners of substantial percentages of the company's capital. That's how capitalism is supposed to work - with resources deployed in the interests of the owners of capital. We know that system works; economics shows us why it works. The alternative, with resources deployed to satisfy the egos and fill the pockets of the hired hands, has no theoretical justification and little practicality - just as a big country house run in the interests of the butler would be a mess. As capitalists, we must work together to restore capitalism!
  • Skeptical Debunker on 05 Mar 10
     
    To inattentive observers, the recent announcement that the British insurance company Prudential PLC (NYSE ADR: PUK) would pay $35.5 billion for American International Group Inc.'s (NYSE: AIG) Asian insurance operation, AIA, might seem like just another belated expansion of the old British Empire - a strange contrast to the sale of the premier British chocolate company Cadbury PLC (NYSE ADR: CBY) to Kraft Foods Inc. (NYSE: KFT) last month. Yet in reality both deals are examples of Empire-building that for shareholders is much more dangerous than the benign British variety - Empire-building by corporate management that runs contrary to capitalist ideals.
  • Skeptical Debunker on 05 Mar 10
     
    Monopolies - BAD (Adam Smith even said so!) Companies controlled and run by management (as if it were their own personal fiefdom and with their hands always in the "cookie jar"), rather than shareholders - BAD. BOTH ANTI-CAPITALISTIC. Both the "norm" for "the titans" of "modern [anti] capitalism". We no longer have capitalism (if that, like communism, ever existed in a more or less "pure" form!). We have a kleptocracy of the rich and corporate aristocracy (as incestuously intertwined as the European nobles ever were!).
thinkahol *

t r u t h o u t | Do Not Pity the Democrats - 0 views

www.truth-out.org/do-not-pity-democrats63204

t r u h o | Do Not Pity the Democrats

shared by thinkahol * on 17 Sep 10 - No Cached
  • thinkahol * on 17 Sep 10
     
    There are no longer any major institutions in American society, including the press, the educational system, the financial sector, labor unions, the arts, religious institutions and our dysfunctional political parties, which can be considered democratic. The intent, design and function of these institutions, controlled by corporate money, are to bolster the hierarchical and anti-democratic power of the corporate state. These institutions, often mouthing liberal values, abet and perpetuate mounting inequality. They operate increasingly in secrecy. They ignore suffering or sacrifice human lives for profit. They control and manipulate all levers of power and mass communication. They have muzzled the voices and concerns of citizens. They use entertainment, celebrity gossip and emotionally laden public-relations lies to seduce us into believing in a Disneyworld fantasy of democracy.
thinkahol *

US Uncut's Anti-Austerity Protests Hit Bank of America - 0 views

www.truth-out.org/rong-against-bank-america68108

US Uncut's Anti-Austerity Protests Hit Bank of America

shared by thinkahol * on 01 Mar 11 - No Cached
  • thinkahol * on 01 Mar 11
     
    As a voice at the megaphone of the Portland protest said, "The United States does not have a deficit problem. The United States has a revenue problem." According to a 2008 report by the Government Accountability Office, 25 percent of the biggest corporations pay no federal income tax. B of A, the recipient of $45 billion in bailout funds, shuttles its would-be tax dollars into 115 offshore tax havens. Meanwhile, budget deficits are cited as justification for pay freezes for public workers and cuts to heating assistance programs, Social Security, and other social safety nets.
thinkahol *

6 Shocking Ways Conservatives Helped Cause the Economic Destruction of America | | Alte... - 0 views

www.alternet.org/...conomic_destruction_of_america

conservatives economic destruction america

shared by thinkahol * on 28 Jun 10 - Cached
  • thinkahol * on 28 Jun 10
     
    The anti-government, pro-corporate-rule Reagan Revolution screwed a lot of things up for regular people and for the country.
Bakari Chavanu

Amazon.com: Idiot America: How Stupidity Became a Virtue in the Land of the Free eBook:... - 0 views

www.amazon.com/...ref=pd_sim_kinc_6

shared by Bakari Chavanu on 03 Oct 09 - No Cached
  • Question: What inspired, or should I say drove, you to write Idiot America? Charles P. Pierce: The germ of the idea came as I watched the extended coverage of the death of Terri Schiavo. I wondered how so many people could ally themselves with so much foolishness despite the fact that it was doing them no perceptible good, politically or otherwise.
  • Question: Is there a specific turning point where, as a country, we moved away from prizing experience to trusting the gut over intellect? Charles P. Pierce: I don't know if there's one point that you can point to and say, “This is when it happened.” The conflict between intellectual expertise and reflexive emotion—often characterized as “good old common sense,” when it is neither common nor sense—has been endemic to American culture and politics since the beginning. I do think that my profession, journalism, went off the tracks when it accepted as axiomatic the notion that “Perception is reality.”
  • Question: What is the most dangerous aspect of Idiot America? Charles P. Pierce: The most dangerous aspect of Idiot America is that it encourages us to abandon our birthright to be informed citizens of a self-governing republic. America cannot function on automatic pilot, and, too often, we don't notice that it has been until the damage has already been done.
  • ...9 more annotations...
  • To this day, we have a political party—the Republicans—who, because it embraced a “movement of Conservatism” that celebrated anti-intellectualism is now incapable of conducting itself in any other way. That has profound political and cultural consequences, and the truly foul part about it was that so many people engaged in it knowing full well they were peddling poison.
  • Charles P. Pierce: Look at the political opposition to President Obama. “Socialist!” “Fascist!” “Coming to get your guns.” Hysteria from the hucksters of Idiot America is still at high-tide. People are killing other people and specifically attributing their action to imaginary oppression stoked by radio talk-show stars and television pundits. That Glenn Beck has achieved the prominence he has makes me wonder if there is a just god in heaven.
  • "Idiot America" is great, informative book about concepts we see everyday. Also, many of the 1-star reviews are likely biased because of some of the political and religious topics noted. I think this book is definitely a full, 5-star book.
  • The author notes "The 3 Great Premises: and applies them to many instances in this book: 1. Any theory is valid if it moves units (rating, and making money). 2. Anything can be true if it is said loudly enough. 3. Fact is what enough people believe (the Truth is what you believe).
  • POLITICAL TALK RADIO: One set of rules noted by a professor studying radio discourse: *Never Be Dull *Embrace willfully ignorant simplicity *The American public is stupid; treat them that way *Always ignore the fact and the public record when it's convenient
  • TELEVISION: "Television is an emotional medium. It's entertainment, not analysis or reasoned discourse."
  • But to someone willing to take the time to read it, this book tells people what practically everyone should know about American politics -- that the American people are being sold a sob story about how experts are an elite that is keeping them from being The Best Damn Nation In The World. (In that regard, one should definitely read "The Paranoid Style In American Politics" by Richard Hofstadter -- it's over four decades old, but saw from the very beginning what has come into full bloom now with the barking lunacy of the American Right.)
  • The main problem with this book is this: the people who are likely to read it already know most of the story, and are mostly getting background information, and the people who won't read it are like the six reviewers I mentioned in my intro -- determined to ignore its stories and insights as "bias" because their politics and faith won't let them look outside the cloister.
  • He lays the blame at the feet of various ideology-driven entities, with special attention given to the same corporate-media war cheerleaders who happily passed on Bush's lies about Iraqi weaponry to a somnolent public, and who, in the name of putting "balance" over reality, treat specious creationist nonsense and hard scientific fact as if both had equal validity. Highly recommended!
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