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If Corporations Were People, What Type Would They Be?

BUY CONSUME Corporations are people. Evil people. BUY So it then begs the question: if corporations are people, what sort of people are they? Republican presidential candidate Mitt Romney recently reiterated an oft-heard pro-business line: "CORPORATIONS ARE PEOPLE." If we look at the way corporations act from a This wasn't just political rhetoric - the Supreme psychological perspective, it becomes clear: they are clinical psychopaths. Court legally recognized corporations as persons in an 1886 ruling, citing the 14th Amendment. LET'S RUN CCORPORATIONS DOWN THE CHECKLIST FROM THE DSM-IV PROFILE OF ANTISOCIAL PERSONALITY DISORDER (COMMONLY KNOWN AS SOCIOPATHS OR PSYCHOPATHS) REPEATEDLY BREAKING THE LAW In the Savings & Loan scandal of the '90s, more than 1,000 bankers were pros- "IT WAS ... INCOMPETENCE AND "WAS THERE OUT- RIGHT FRAUD AT COUNTRYWIDE? OF MORAL BLINDNESS COURSE THERE WAS." THAT ALLOWED BANK OF AMERICA ecuted. But today, - The New York Times TO COMMIT TENS OF THOUSANDS OF government bodies like the FDIC and FELONIES" SEC have turned their attention elsewhere. - Bill Black, Former Bank Regulator There have been just 2 Wall-Street prosecutions in connection with the financial crisis. Both defendants - minor executives at Bear Stearns - were acquitted. ALL BANK REGULATOR CRIMINAL REFERRALS 2,000 S&L Scandal 2008 Crisis 1,500 1,000 500 *86 "95 "00 "05 10 CONNING OTHERS FOR PERSONAL PROFIT OR PLEASURE "The masterminds of this heist should take a bow: They managed to take hundreds of billions of dollars in retirement benefits that were intended for millions of workers and divert them to corporate coffers, shareholders, and their own pockets." - Ellen Schultz, Wall Street Journal It used to be the case that workers could depend on pension plans to help them through retirement. US CORPORATE PENSION PLANS LATE TODAY 1990'S But in the 1990s, companies started pilfering money from their employees' funds. 9 in 10 $250 B SURPLUS $400 B DEFECIT Americans say that the retirement system is under severe stress 77% MEANWHILE Believe that the disappearance of pensions is making the 'American Executive pensions rose as much as 50% in 2009 alone Dream' harder to achieve THE CULPRITS CHRYSLER WAL MART at&t U-S AIRWAYS AND MANY OTHERS Bank of America verizon Ford IRRITABILITY AND AGGRESSIVENESS "UNDERSTAND, WE HAVE A RIGHT TO MAKE A PROFIT." Brian Moynihan, Bank of America CEO WAL-MART'S AGGRESSIVE HOW DID WAL-MART STRATEGY HAS BEEN BECOME sO SUCCESSFUL? HIGHLY SUCCESSFUL FOR STOCKHOLDERS PAYING PITIFUL WAGES - BUT NOT FOR EXAMPLE: MOST AMERICANS YEARLY LIVING WAGE IN SEATTLE, WA WAL-MART LOCATIONS 1970 ONE ADULT ONE CHILD $36,361 ONE ADULT $19,075 1995 AVG WAL-MART SALES ASSOCIATE $15,500 RECKLESS DISREGARD FOR SAFETY OF SELF OR OTHERS XXX "WASHINGTON MUTUAL BUILT A CONVEYOR BELT THAT DUMPED TOXIC MORTGAGE ASSETS INTO THE FINANCIAL SYSTEM LIKE A POLLUTER DUMPING POISON INTO A RIVER" - Senator Carl Levin By focusing on 'risky borrowers,' WaMu played a huge role in the subprime mortgage crisis - resulting in the biggest bank failure in American history, and the second biggest bankruptcy. TOP 5 BANKRUPTCIES LEHMAN BROTHERS HOLDINGS INC $691.1 billion WASHINGTON MUTUAL $327.9 billion WORLDCOM INC $103.9 billion GENERAL MOTORS $82.3 billion ENRON CORP $65.5 billion In total, WaMu and 16 of the other biggest banks in the world sold $200 billion of toxic mortgages to the US gov't through Fannie Mae Equivalent to the total costs of the 2011 Japanese earthquake. and Freddie Mac. CONSISTENT IRRESPONSIBILITY "THE BONUS SYSTEM HAS GONE BEYOND A MEANS OF REWARDING TALENT AND IS NOW WALL STREET'S PRIMARY BUSINESS." - USA Today of major U.S. companies 90% intentionally overpay their CEOS to make the position more desirable. But when every company pays their CEO above the average, the average skyrockets. MEDIAN TOTAL COMPENSATION FOR TOP EXECUTIVES $5m $4m $3m $2m $1m AVERAGE ANNUAL EARNINGS OF EMPLOYEES 1964 1970 1980 1990 2000 EXECUTIVE PAY VS WORKER PAY 1964: 24:1 2011 275:1 And only 1% of executive pay plans get voted down by investors at the biggest companies – even though they hurt the bottom line. LACK OF REMORSE "THE BP PRESIDENT SAID Shortly after the Deepwater Horizon oil spill, BP CEO Tony Hayward had a difficult time YESTERDAY THAT THE COMPANY WOULD SURVIVE. THAT'S LIKE SOMEONE RUNNING OVER YOUR DOG AND SAYING, 'DON'T WORRY, MY CAR IS FINE." - Jimmy Fallon, after the Gulf Oil Spill showing remorse. "The Gulf of Mexico is a very big ocean. The amount of volume 4.9 MILLION BARRELS of oil and dispersant we are putting into it is tiny in relation" 68,000 SQ MI "We made a few little mistakes early on" - Tony Hayward, "There's no one who wants this thing over more than I do. I'd like my life back" CEO of BP - Tony Hayward, CEO of BP NNNXXX "The history of the twentieth century The twenty-first will no doubt be marked - Eric Schlosser, Fast Food Nation: The Dark Side of the by a struggle to curtail excessive was dominated All-American Meal by the struggle against totalitarian systems of state power. corporate power." ONLINEMBAPROGRAMS.ORG © 0e0 Attribution NonCommercial NoDerivs REFERENCES: orate-fraud - /diary/features/2003/_27/entry_1.html - http://sinsofgreenwashing. org/?dl_id=102 - editorials/story/2011-10-11/Occupy-Wall-Street- protesters/50735960/1 - business/economy/cozy-relationships-and-peer-benchmarking- send-ceos-pay-soaring/2011/09/22/glQAgq8NJL_story.html continues-for-executives-even-after-failed-tenures.html?_r=1&scp=2& sq=ceo%20pay&st=cse - /1011/65297.html - /c/cuellar/econ411/Basker-WalMart-Jobs.pdf wamu-dumped-toxic-mortgage-a

If Corporations Were People, What Type Would They Be?

shared by rmmojado on Mar 25
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There has been a lot of debate recently over the question of whether we should consider corporations “people.” Liberal-leaning folk tend to dismiss this claim out of hand – after all, how could ...


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