No, no ... I enjoy the idea and the fact of corporations -- I have one ! and successfully invest in many others... Carefully calibrated protection against liability is great.
The problem is in Washington DC, where a lack of regulation of these immortal "persons" are giving increasing political rights vastly exceeding actual persons. The controllers use that mechanism for influence quite naturally, to expand influence further, purchasing legislation at pennies on the dollar.
No big surprise. Jefferson and others forsaw this imbalance occuring in the 1800's. Teddy Roosevelt fought against such abuses in the 1900's.
When startup money and other risks are distributed and therefore reduced, that's great, I've started new companies, invested in IPOs, etc. Like Lloyd's of London, without distribution of risk business doesn't happen.
However, it goes too far when the profits and monopoly benefits are privatized and the risks nationalized. You don't even have to go into the realm of Bush-Lay Enron and 800 offshore slush funds to see gross evidence of that... Just look at the unregulated fraud, in the trillions, of Wall Street brokers and banks, outright lying to investors.
Given a public-minded Executive Branch and it's SEC, FCC etc., and public-minded Congress and GAO, there would be regulation demanded by common sense and the people.
Instead, what we have is the kind of regulation demanded by the regulated, i.e., too little too late, and deliberations are concealed by the guilty in high office. |
