Sunday, November 20, 2011

Amendments to redefine corporations


Paul W,

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I personally love corporations to operate in a HONEST and RESPONSIBLE manner. Constitutional Amendments are floating around the country.

Examination produces two ideals:
___1- Corporations/like entities are not people but rather the property of individuals, is assets of individuals, acts at the direction of individuals who are responsible for their conduct. (In such both a corporation can be sued for violations of law and criminal prosecution).
___2- Corporations/like entities are excluded from influence, including financial, in our electoral/political system of these United States.===

It's disgusting that we have to provide legalistic jargon for the greatest legal minds in our judicial system to be able to distinguish between a human being and a contract or property - but here we are.

It's not mildly disgusting. It's disgusting like taking in a deep whiff of concentrated raw sewage created at a plant before processing. Disgusting that creates a seminal memory.

My second reaction, after reliving that seminal memory, is that these amendments do not go far enough to recognize the nature of the issue. Neither amendment truly threatens the legally mandated focus of the corporation: to improve stockholders' financial position, or equity.
Whatever laws or amendments are proposed with regards to corporations, there has to be a provision for an off switch.

If the corporation or any of its officers breaches these legal limits, the corporation simply ceases to be a defined legal entity within the United States. The stock becomes valueless. All property within the United States or defined as owned by the corporation in question is ceded to the United States as penalty.
Any corporation charged with these crimes will have its operations suspended and a legally mandated overseer or commission will manage operations and gather evidence until the trial is decided.
Stockholders and employees not involved in the commission of the crime are allowed to sue those who committed the crime for private compensation.

A corporation is a financial structure and a legal entity. There must be a legal means for it to end. That end must threaten the financial position of the to pose too great a risk for certain laws to be broken.
Otherwise, any amendments or laws will only be feeding the legal system.

Paul, I don't see a way to enforce your second proposed amendment. We already have PACs and think tanks. This amendment will be toothless.

Your first proposed amendment is essentially the situation that exists today in legal terms. Even if it may offer an easier means to penetrate the corporate veil, its effect will be increasingly limited as pressure is placed on legislatures at all levels to define and refine the legal environment.

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