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Politics : Formerly About Advanced Micro Devices
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To: koan who wrote (546053)1/25/2010 7:22:04 PM
From: TimF  Read Replies (1) of 1576879
 
If your trading more than long term investing, you probably don't own the shares long enough for it to be in your interest to try to influence shareholder meetings and corporate policy, even if you own enough shares to actually have some impact. Most traders don't own that many shares.

In any case your now leveraging one irrelevancy off of another. You don't know anyone who voted in a shareholder's meeting or in any other way on a corporate decision, even though you knew a lot of short term (and perhaps a few long term) large shareholders does not imply that people who own shares have no impact, which in turn, even if fully accepted, does not imply that corporate speech is anything other than "speech by people using the corporate form".

The issue of corporate governance is a separate issue. Shutting corporations up on political issues and preventing them from speaking about candidates does violate the first amendment (remember its "congress shall pass no law...", not "congress shall pass no law except laws covering corporations..."), but it doesn't solve any real or potential problems with corporate governance and shareholder rights. At the same time issues of how the corporations are governed don't change the fact that they are collections of people, and they also don't allow congess to pass a law "respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances."
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