And something you can do about it...

Brad Friedman Byon 3/2/2011, 1:58pm PT

Well, this seems about right. Most impressively, the video below explains how corporations are legally required to put the interest of shareholders and the maximizing of profits above all other concerns.

This is just one of the reasons we were so critical of Obama's recent address to the damnable U.S. Chamber of Commerce, the largest corporate lobbying group in the nation, wherein he seemed to be grovelling for them to work together in the interest of creating jobs for Americans. Silly, that. The corporations he was meeting with have a legal fiduciary duty to maximize profits. Period. They have no requirement to do anything else. In fact, they have a legal responsibility to do nothing but!

In short, corporations will not behave in the interest of the public unless and until they are legally required to do so. Anything short of that is simply whistling past the graveyard and/or a more political kabuki theater.

This video, featured by the DemocracyIsForPeople.org campaign to help the push for a Constitutional Amendment that would undo the U.S. Supreme Court's infamous 5 to 4 Citizens United decision last year by requiring that First Amendment rights apply to human beings only (or, at least, not to for-profit corporations) does a very fine job of explaining in simple terms the entire fine mess this country now finds itself in. It's well worth the 8 minutes it takes to watch...



