The Accountable Capitalism Act

Politics
1

This is why Democrats shouldn’t be in power. Chief Warran thinks this is how America should be run.

If your business has sales of 1 billion a year:

  • Government must give you permission to be in business under these rules:
    • 40% of the board elected by employees
    • Must be responsible to share holders, employee’s and the community
    • No political contributions
    • Board members have to hold stock for 5 years.

Imagine a democrat controlled house, senate, and president coming up with the RULES for business if they want to remain in business.

Here is the interesting thing from the article:

The CEOs I know believe there is no conflict between serving shareholders and stakeholders. In fact, Delaware law – which is the predominant corporate standard – requires that boards of directors take into account the interests of the company and its shareholders in making decisions.

Under the “business judgment” rule, they are given wide latitude to make tradeoffs between competing stakeholders interests as long as they are acting in the best interests of the company. Just to confirm the point, 19 other states have laws explicating enabling boards to consider the interests of customers, employees and communities in addition to shareholders.

Looks like many companies are required to take into account the best interest of the company and it’s shareholders.

2

One you called her Chief Warren you may as well have thrown the rest of your post in the garbage. It became worthless.

4 Likes
3

She’s the one claiming to be indian.

So I guess no comment on businesses needing government permission to be in business?

4

“Maximize shareholder value” are the three most destructive words ever uttered for the American Worker.

1 Like
5

Plus I doubt that the no political contributions things would hold up in court.

Corporations are people my friend.

6

I don’t think needing a government charter to be in business would hold up to constitutional muster.

7

She is not saying no political donations she said this.

At least 75% of directors and shareholders would need to approve before a corporation could make any political expenditures.

8

I think it would.

There is a regulatory framework that can certainly be built along several departments ranging from labor relations to SEC rules.

9

Are there other things that are false?

10

I am only responding to the part Jezcoe brought out.

The OP starts off ignorant so it is not worthy of being discussed by me.

12

Ah… I didn’t really read it in depth because it has no chance of passing… but yes… I agree… that would probably pass muster.

13

Maybe if you knew a little something about the long history of corporate charters in this country;

https://www.msn.com/en-au/news/other/we-must-hold-capitalism-accountable-elizabeth-warren-shows-how/ar-BBM5nGN

14

Here is her original article.

There is too much money in politics now for that to pass.

15

Damn straight.

16

Warren was instrumental in the CFPB and it’s radical, unsupervised ransacking of financial institutions who then couldn’t quantify their methodology of determining unfair lending practices so that these same institutions could keep from repeating what the CFPB punished them for. She is beyond goofy.

17

I tried to pull it up. I’m out of my free views and had to rely on a couple of different write ups on what she said.

18

Friedman was the one who popularized that philosophy, and conservatives loved it.
That, and tying CEO/Upper management compensation to the stock price (another conservative idea) is much to blame for the insane income/wealth inequality we have today.

Fo the con to keep working, conservatives blame regulations, high taxes, unions, outsourcing, and immigrants (legal and illegal) for the plight of the working man.

It’s greed. And it is now baked into the economic cake of America, thanks to conservatives, from both parties.

1 Like
19

The big banks should be broken up and a lot of the executives should go to jail.

The CFPB couldn’t go far enough.

20

Yes.

10
Char

21

Here are some facts about the CFPB. I see you are on the side of Wall Street.
You’ve been conned.

The CFPB is the only federal agency focused exclusively on enforcing consumer financial laws. It is meant to ensure that all consumers have access to markets for consumer financial products and services and that such markets are fair, transparent and competitive. It was given the power to issue regulations and monitor a range of lenders from banks to non-bank firms that were previously unsupervised at the federal level including mortgage companies and payday lenders.

It also has the power to discipline firms for misconduct. Since opening its doors, it has levied fines and dealt with more than a million consumer complaints relating to mortgages, credit cards, student loans, debt collection and other financial products.

The CFPB said it has provided $11.7 billion in relief for more than 27 million harmed customers. That figure includes debts that were canceled or reduced as well as compensation paid out by firms.

Wall Street accuses the agency of imposing overly burdensome regulations and large fines.