Home page logo

interesting-people logo Interesting People mailing list archives

Re: Congress' reaction to AIG bonuses -- am I the only one concerned?
From: David Farber <dave () farber net>
Date: Sat, 21 Mar 2009 21:53:55 -0400

Begin forwarded message:

From: Karl Auerbach <karl () cavebear com>
Date: March 21, 2009 7:25:22 PM EDT
To: dave () farber net, dmcknight15 () comcast net
Subject: Re: [IP] Re: Congress' reaction to AIG bonuses -- am I the only one concerned?

David Farber wrote:

From: "Mac McKnight" <dmcknight15 () comcast net>

The key here is proper regulation. The strict free market advocates of the Bush administration have caused us tremendous pain. We can’t place such tremendous responsibility for the wealth and well-being of our country in the hands of such organizations with little or no oversight, especially if
we view them as "too big to fail."

The "too big to fail" logic has been with us for decades - Lockheed being an example of a company that were considered in that category in the past.

Might it make sense in our yet-to-be constructed re-regulatory structure to have caps on the size of corporate forms?

Some enterprises, such as the manufacture or aircraft or large infrastructures (railroads, power) require large enterprises. But do we really need mega-banks and mega-insurance companies?

We have come a long way, and in my mind much too far a way, down the road of giving civil rights to corporate forms. And in the AIG bonus situation we are seeing a reflection of a popular resentment against the idea that potentially immortal corporations have the same civil rights as living, breathing people.

And in the context of governance of the internet these artificial life forms, corporations, are beginning to be granted political rights that often exceed the rights of people.

It seems that the time is ripe to revisit our legal notions about what is a corporate form, what are their rights, and what should be the constraints on their activities and powers. I'm not suggesting a return to the corporate charters of the early 19th century, but I am suggesting that we are creating institutions that are so large, so powerful, so immortal, that they are damaging the ability of our governments to promote the general welfare and quality of life of its human citizens.


Archives: https://www.listbox.com/member/archive/247/=now
RSS Feed: https://www.listbox.com/member/archive/rss/247/
Powered by Listbox: http://www.listbox.com

  By Date           By Thread  

Current thread:
[ Nmap | Sec Tools | Mailing Lists | Site News | About/Contact | Advertising | Privacy ]