King George III

Which Is Worse:

King George III's Stamp Act or Bill Gates III's Digital Certificates?

"I was struck by the fact that many of our founding fathers' grievances are the same as those felt today. John Hancock complained that King George III had "forbidden his governors to pass laws of immediate and pressing importance"; "affected to render the military independent of and superior to the civil power"; and perhaps most chillingly, "made judges dependent on his will alone." - Chris Jares

1769   King George III grants a charter to Dartmouth College.

King George III suffered from a genetic disorder called porphyria, an over production of the reddish pigments in hemoglobin, which carry oxygen in red blood cells.

King George III displayed many symptoms of porphyria, including abdominal pain, reddish urine and acute mental disturbances.

Similar symptoms had been reported across several generations of the royal (blue blood megalomaniac) lineage.

Ironically arsenic containing medicines used to treat some of his symptoms probably exacerbated them as arsenic disrupts hemoglobin production which, paradoxically, triggers many symptoms of porphyria.

Biochemist Martin J. Warren of the University of Kent studied strands of George III's gray hair preserved at London's Science Museum.

They concluded that the hair had an arsenic content of 17 times the level generally considered to indicate arsenic poisoning.

"It is extremely likely that his bouts of madness were due to severe porphyric attacks," Martin J. Warren said. "Arsenic may have precipitated his attacks, or made them much more severe."

King George III experienced at least five bouts of extreme derangement, each lasting weeks.

King George III occasionally became violent, and he often talked to imaginary people; a tree he thought was King Frederick II of Prussia.

There is a real possibility that had King George III not suffered from severe arsenic poisoning the American colonies would have been dealt with in an entirely different manner and the American Revolution would never have occurred.

"The Declaration, after all, catalogued the assaults on our freedoms committed by Britain's King George III.

What has been built up over the last two and a quarter centuries is a structure that dwarfs King George III's regime." – K.E. Grubbs

1776  In The Wealth of Nations Adam Smith suggestes shareholders who do not run their own business' but delegate that task to professional managers were making an economic mistake.

Adam Smith felt professional managers could not be trusted to apply the same "anxious vigilance" to manage "other people's money" as they would their own and "negligence and profusion therefore must prevail, more or less, in the management of such an incorporation."

1816 Legislature of New Hampshire alters Dartmouth College charter placing appointment positions in the hands of the governor, adding new members to the board of trustees, and creating a state board of visitors with veto power over trustee decisions.

1819 Supreme Court rules in favor of the Dartmouth College charter and invalidates the act of the New Hampshire Legislature, which in turn allows Dartmouth to continue as a private institution and take back its buildings, seal, and charter.

The majority opinion, written by John Marshall, reaffirms the sanctity of a contract.

In the words of Chief Justice Marshall in the famous Trustees of Dartmouth College v. Woodward case, corporations are "artifcial being[s], invisible, intangible, and existing only at the intention of the law."

A corporation is a "creature of the law" that does not possess inalienable human rights, but rather "only those properties which the charter of creation confer on it."

Corporations could be extensively regulated to ensure that they did not abuse the special privileges and protections governments conferred on them not shared by individuals.

The Supreme Court rules that the corporate charter of Dartmoth College qualifies as a contract between private parties, the King and the trustees, with which the legislature could not interfere.

The contract is valid because the US Constitution said that a state could not pass laws to impair a contract.

Chief Justice Marshall's opinion emphasized that the term "contract" referred to transactions involving individual property rights, not to "the political relations between the government and its citizens."

This was the settled understanding both prior to and after the Civil War when the Fourteenth Amendment was added to the Constitution, requiring states to respect the fundamental rights of all Americans.

1844 In Louisville, C. & C.R. Co. v. Letson, 2 How. 497, 558, 11 L.Ed. 353, the US Supreme Court holds that for the purposes of the case at hand, a corporation is "capable of being treated as a citizen of [the State which created it], as much as a natural person."

1854 Reaffirmed the result of Letson, though on the somewhat different theory that "those who use the corporate name, and exercise the faculties conferred by it," should be presumed conclusively to be citizens of the State of incorporation. Marshall v. Baltimore & Ohio R. Co., 16 How. 314, 329, 14 L.Ed. 953

1886 Santa Clara v. Southern Pacific Railroad Co

Supreme Court never reaches an opinion in the case and it dies.

The court reporter, a former railroad man, inserts the opinion notes of the oral argument of Chief Justice Waite into his published notes.

This appears to be an announcement that corporations are "persons" within the meaning of Fourteenth Amendment.

1911 "Corporation, n. An ingenious device for obtaining individual profit without individual responsibility." - Ambrose Bierce Devil's Dictionary


September 11, 2001

SEC offices are destroyed in the World Trade Center.

"The SEC has not quantified the number of active cases in which substantial files were destroyed.

Reuters and the Los Angeles Times published reports estimating them at 3,000 to 4,000.

They include the agency's major inquiry into the manner in which investment banks divvied up hot shares of initial public offerings during the high-tech boom." - Margaret Cronin Fisk

2002 to 2007

US Justice Department wins 1,236 convictions in corporate fraud cases.

2004 The wealthiest 1% of American citizens own 36.9% of all stock. 30% of stock is enough to fully control most corporations.

2007 Warren Buffet states he feels no imperative to invest in socially responsible corporations or to press those corporations in which he invested to be socially responsible.

corporate marketing advertisement

Corporate social responsibility is illegal.

Corporate social responsibility is an oxymoron.

A corporation, by definition of corporate law, is singularly self-interested.

The "best interests of the corporation" priciple, a fixture of corporate law, compels corporate decision makers always to act in the best interests of the corporation and its shareholders.

The law forbids any other motivation for actions, whether to assist workers, improve the environment, or help consumers save money.

Corporate officers can give away their own money, as private citizens but as corporate officials, however, stewards of other people's money, they have no legal authority to pursue such goals as ends in themselves - only as means to serve the corporate interests - to maximize the wealth of shareholders.

"The corporate design contained in hundreds of corporate laws across the face of the Earth is nearly identical.

The people who run corporations have a legal duty to shareholders, and that duty is to make money.

Failing this duty can leave directors and officers open to being sued by shareholders (non-voting shares may have an arbitration clause).

The law dictates to the corporation to pursue of its own self-interest - and equates corporate self-interest with shareholder self-interest.

No mention is made of responsibility to the public interest.

Corporate law thus casts ethical and social concerns as irrelevant, or as stumbling blocks to the corporation's fundamental mandate." - Robert Hinkley, corporate lawyer

January 21, 2010 Quest for corporate personhood completed.

Corporations can now make unlimited, direct political contributions.

"The decision of the Supreme Court in Citizens United v. the Federal Election Commission paves the way for unlimited corporate spending in elections, drowning out the average voice in public policy debates." - Bob Edgar 01/22/10

Paths Citizens United Created for Foreign Money to Pour Into US Elections

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