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Sen. Warren wants to require corporations to obtain federal charter with strict guidelines
Posted on 8/16/18 at 12:59 pm
Posted on 8/16/18 at 12:59 pm
quote:
To give employees, communities and other stakeholders a leg up, her bill would require companies with more than $1 billion in annual revenue to obtain a federal corporate charter. That charter would require corporate directors to "consider the interests of all major corporate stakeholders—not only shareholders—in company decisions. Shareholders could sue if they believed directors weren’t fulfilling those obligations."
Her bill would also let employees elect at least 40 percent of the company's directors, and at least 75 percent of directors and shareholders would have to sign off on decisions to spend money on politics.
This would seem to open up a huge can of worms and is ridiculously anti-freedom.
This essentially would give a Washington bureaucrat a legally-binding seat in the board rooms of every major U.S. company. Don't want to operate under Elizabeth Warren's rules of business? Too f*%cking bad.
LINK
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Posted on 8/16/18 at 1:00 pm to HailHailtoMichigan!
Look how progressive she is!
We can be just like colonial Britain!
Yay! She's so smart! Yay!
We can be just like colonial Britain!
Yay! She's so smart! Yay!
Posted on 8/16/18 at 1:01 pm to HailHailtoMichigan!
quote:
and at least 75 percent of directors and shareholders would have to sign off on decisions to spend money on politics.
So they would be forced to lobby and line her pockets?
Posted on 8/16/18 at 1:01 pm to HailHailtoMichigan!
quote:
That charter would require corporate directors to "consider the interests of all major corporate stakeholders—not only shareholders
Another Dem economy related fricking fail
Posted on 8/16/18 at 1:01 pm to HailHailtoMichigan!
I guess this is the next phase of her plan since that Consumer Finance scam agency of hers is being disassembled.
Posted on 8/16/18 at 1:01 pm to HailHailtoMichigan!
meh....just offer her a few beads and she will drop this demand and give us Manhattan.
Posted on 8/16/18 at 1:02 pm to BlackHelicopterPilot
quote:Maybe some gently used blankets?
meh....just offer her a few beads and she will drop this demand and give us Manhattan.
Posted on 8/16/18 at 1:02 pm to HailHailtoMichigan!
Everyone wants some of that sweet, sweet Visa class A stock like Nancy Pelosi got.
Posted on 8/16/18 at 1:02 pm to HailHailtoMichigan!
quote:
Sen. Warren wants to require corporations to obtain federal charter with strict guidelines
You know who else gave out government charters to corporations and gave strict guidelines on operations?
Posted on 8/16/18 at 1:02 pm to HailHailtoMichigan!
That is truly insane.
Posted on 8/16/18 at 1:03 pm to BlackHelicopterPilot
quote:
....just offer her a few beads
You think she'd do it for a bottle of Courvoisier?
Posted on 8/16/18 at 1:03 pm to HailHailtoMichigan!
That woman needs to walk the Trail of Tears out of Washington.
Posted on 8/16/18 at 1:04 pm to imjustafatkid
quote:
That is truly insane.
Kevin Williamson over at national review put it nicely;
quote:
Under Senator Warren’s proposal, no business with more than $1 billion in revenue would be permitted to legally operate without permission from the federal government. The federal government would then dictate to these businesses the composition of their boards, the details of internal corporate governance, compensation practices, personnel policies, and much more. Naturally, their political activities would be restricted, too. Senator Warren’s proposal entails the wholesale expropriation of private enterprise in the United States, and nothing less. It is unconstitutional, unethical, immoral, irresponsible, and — not to put too fine a point on it — utterly bonkers.
Posted on 8/16/18 at 1:05 pm to HailHailtoMichigan!
And Trump is the Fascist? 
Posted on 8/16/18 at 1:05 pm to HailHailtoMichigan!
Send her back to her reservation
Posted on 8/16/18 at 1:06 pm to HailHailtoMichigan!
Oh boy, Antifa is going to be all over her for this...
Posted on 8/16/18 at 1:07 pm to HailHailtoMichigan!
Wow. Does that apply to closely held corporations? She has no idea how this will play out, does she? Consolidation of ownership among the ultra-wealthy into non-corporate entities or closely held entities who will amend their bylaws or operating agreements to strip rights from everyone. Brilliant.
This post was edited on 8/16/18 at 1:39 pm
Posted on 8/16/18 at 1:07 pm to HailHailtoMichigan!
I don't entirely disagree with her premise and point but what a dangerous step to take. This would be the first step towards federal takeover of companies.
Posted on 8/16/18 at 1:08 pm to DallasTiger11
quote:
I don't entirely disagree with her premise and point
egads
Posted on 8/16/18 at 1:08 pm to HailHailtoMichigan!
quote:
Warren’s proposal entails the wholesale expropriation of private enterprise in the United States, and nothing less. It is unconstitutional, unethical, immoral, irresponsible, and — not to put too fine a point on it — utterly bonkers.
It's kinda similar to National Socialism...
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