Forum Post: Improve corporate accountability and governance
Posted 13 years ago on Oct. 12, 2011, 2:24 p.m. EST by MPLSJoe
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Corporations, today, have a system which benefits corporate executives at the expense of the workers and the community at large. Corporate executives have used this system to abscond with obscene compensation levels, to the tune of 375 times the average workers, even in the face of record losses. The corporate governance structure currently in place allows this to happen. In order to improve corporate accountability and governance, the current system needs to change.
Germany, a country with a rich tradition of labor, currently enjoys one of the best economies in the world with one of the lowest unemployment rates along with a positive trade balance to China - Germany exports more goods to China than they import from China. That means Germany's economic system is working for the 99% of the people of Germany.
Many policies have helped Germany to achieve a robust economy which works for everyone. However, one policy stands out from the rest and would improve the United States' system of poor corporate governance and accountability. In Germany, all public and private corporations with greater than 500 employees are required by law to fill one-half of the seats of the Board of Directors of the corporations with representatives of the employees. This has improved corporate accountability to the workers and to the shareholders whereby the corporate executives don't receive obscene and distorted compensation packages. This has improved corporate governance whereby a corporation can't ship jobs overseas without approval from the employees. This has made Germany work for the 99 percent of the people!
True, we have much to learn from the very successful German model, and although I'm all in favor of taking down today's ineffective and inefficient Top 10% Management Group of Business & Government, there's only one way to do it – by fighting bankers as bankers ourselves. Consequently, I have posted a 1-page Summary of the Strategic Legal Policies, Organizational Operating Structures, and Tactical Investment Procedures necessary to do this at:
http://getsatisfaction.com/americanselect/topics/on_strategic_legal_policy_organizational_operational_structures_tactical_investment_procedures
Join
http://finance.groups.yahoo.com/group/StrategicInternationalSystems/
if you want to support a Presidential Candidate – myself – at AmericansElect.org in support of the above bank-focused platform.
Brooksley Born and Elizabeth Warren - best hope for America
I agree but two non-corporate owned politicians out of 535 and the president will not cut it.
I was referring to their ideas and vitality
I agree! I loved Elizabeth Warren's book titled "The Two-Income Trap".
This is an excellent idea. As soon as we shed the leash of the banks off of our government this would be a great thing to have our government initiate. But, first we have to stop the ability of the banks and their corporate pawns to purchase legislation from or government or they will never allow this kind of change to happen.
I agree Geoff. We need to end corporate and Wall Street control of our government and then we can institute great reforms for the 99% of Americans. What is your idea to end corporate/Wall Street control of our government?
Coupled with the massive protests I think we need to have a viable weapon against the Banks. (I think the corporations are just pawns to the banks.) We have to weaponize our money. This means that we have to collectively fight the Credit System by refusing to pay our credit bills. Mortgages (the most important one), Credit Cards, Student Loans, Car Loans, Medical Bills, Insurance, etc. are the focus of such an attack against the banks. In addition, I think pulling our wealth out of the banks, the stock market, bonds, 401k's is also a good thing. We have to do this to show the banks that we are serious about reform. In essence, we have to play chicken with the banks to see who is more willing to bankrupt our economy to regain/retain control of the government. This is what kind of Financial Revolution I think might need to happen. It's not pretty. It's not nice. It's a war. But, if we truly want control wrested from the 1% we are going to have to hurt them in the only thing they understand, their pockets.