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View Diary: Abbreviated pundit roundup: J.P. Morgan's modern connection, retail workers on the precipice, jobs (69 comments)

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  •  East India Company (3+ / 0-)

    joint stock company, founded in the 1600s, shipped tea into Boston which got tossed into the harbor in 1773.

    Oh, the authors of the Constitution knew about those beasts when the Constitution was written, but I suspect they had a much different opinion on them than our conservatives pretend they did.

    "The problems of incompetent, corrupt, corporatist government are incompetence, corruption and corporatism, not government." Jerome a Paris

    by Orinoco on Mon Dec 02, 2013 at 08:36:46 AM PST

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    •  Early U.S. corporations were very limited (2+ / 0-)

      They could only be for a single purpose, were limited in the time they had to exist and could not invest in other companies. Most were use to build roads and canals. Even than people like Jefferson were leery of them.

      It wasn't until well into the 19th century that the more modern corporation came into being. States wanting extra revenue started grating more liberal terms. Did you know that over half of all American corporations are incorporated in Delaware?

      But it was in 1886 that Santa Clara County v. Southern Pacific Railroad Company declared that corporation had 14th amendment rights. By the 1930's over 90% of all 14th Amendment cases involved corporations, leave less than ten percent for minority rights cases.

      “We can always count on the Americans to do the right thing, after they have exhausted all the other possibilities.” - Winston Chuchill

      by se portland on Mon Dec 02, 2013 at 09:03:40 AM PST

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