people versus corporations
james armstrong
james36armstrong at hotmail.com
Sun May 15 19:24:03 BST 2011
CORPORATIONS CONDEMNED –
Action to restore the rights of people against companies.
James Armstrong
SUMMARY
1
Setting a
Renewable, variable, termination date (RVTD) , and activating it, for each
corporation will restore equity between people and privileged
corporations .
2
An Assembly of the
people chosen by lottery is needed to strengthen government agisnt the attacks
of corporations
3
The fiscal
deficit was caused by speculation by corporations
who are able and the appropriate source of repaying the debt. Only this course
can restore corporate integrity.
4
The arguments
for corporations not people repaying the deficit-
-
corporations
harvest the greatest share of GDP
-
corporations are
rich enough to pay off the deficit with impunity
-
corporations are
more mature than people and so better able to pay
-
People’s welfare
takes precedence over corporate
privilege
- corporations are
more resilient than people
5
The action
required is for HMG to allocate shares
of the debt to corporations and send each an invoice.
6
Massive
law-breaking by corporations has been identified by Office of Fair Trading,
by Financial Services Authority and by Crown
Court in UK. By EU
Commission in E.U. and by the Federal Authorities in USA (£million fines listed)
7
Jarvis
Engineering escaped massive fines by voluntary Administration
8
. The case for
setting and implementing a universal
Variable and Renewable Termination Date. To regain control of the corporate
sector.
9
Rigging the
Housing Market as an example of unlawful corporate monopoly practice.
ACTION . Take HMG and Corporate house-builders to
court for breech of the human rights
convention, article 8 - the right to enjoy family life. This is breeched by the rigged malfunctioning house supply market , the actions of the corporations in amassing
and controlling available bulk permissioned land , and the failure of HMG to
prosecute this.
HMG further restrict supply by maintaining a planning regime which becomes restrictive
and onerous in the conditions where market conditions have been destroyed., where there is an endemic failure in house
supply and where self supply by self-build is shut out by the monopoly landbanks of the giant corporate house-builders, and where needy people
have no prospect of obtaining housing even those privileged by inclusion on waiting lists.
.
May 2011
What needs to be done,
- to
control all corporations so they behave
in future
presently they shrug off massive
fines . By an oversight we forgot to set a limit to their ‘life’.
Setting a renewable variable
termination date (RVTD) to reward or punish every existing and new corporation will restore equity between people and out of
control companies.
-to control governments so they are
daily answerable to
people
Presently
after you vote M.P.s in, you have no say on any particular policy.
A people’s assembly chosen
by lottery can set M.P.’s agenda,
decide on election dates and
on subjects needing a referendum, or an enquiry, control lobbying and sack M.P.
crooks. This is no new idea- direct assemblies & people’s tribunes were
the basis of democracy 2,500 years ago.
- to pay
off corporate-caused debt
so speculation by bankers doesn’t pay
presently companies,
especially banks, are immune from the ultimate consequences of speculation and free to put
the currency and our savings at risk.
Reducing their credit creation, limiting their age, size and amalgamations and making them accountable is the
programme. Levying the whole cost of
corporate speculation on the corporate
sector –ONLY-
is the first step to
reintroduce ethics in corporations.
Allowing banks to issue limitless credit puts the UK currency at risk.
HMG should not rely on predatory banks to fund the national debt. May 2011
james36armstrong at hotmail,com
companies not people must pay.
There
is no need to cut services or jobs or pensions.
It’s a preposterous try on, maybe the final
surrender -“Economists and business
leaders should not let Osborne get away with Tea Party statements about Britain
risking bankruptcy and having no choice but to suffer” says Will Hutton in the
Observer, 10 APRIL’11
There is no justification for increasing taxes.
To even suggest people should pay for the debts incurred by
financial gamblers is treason. It
amounts to an elected government selling
out the people to the banking mafia, making
us and our children permanent
debt slaves. Companies only, those responsible
first, and the others picking up the balance,
but not people - must pay.
On top
of student loans, huge mortgages needed to pay high house prices, increased VAT
and taxes and reduced pensions repaying company debt will tip us into slavery.
companies only
should and can pay
easily, both those responsible and those others who share
their privileged honorary existence. It
will be good for their and our moral welfare.
COMPANIES
ARE EXPENDABLE AT OUR WILL.
That’s
what they were designed for !
Companies
were invented circa 1700 as a shield to facilitate trade and commerce so that people
would not lose all their money when a speculation
failed but they remain a two way deal –with society, not executives or
shareholders having the major stake in
their good behaviour. Now is the time for society to take stock and for the people
to call in this favour.
Nationally
and globally these honorary type of ‘people’ have outgrown and daily grossly
abuse their privilege. They are more mature than any person or government,
more rich than you or me, have a simultaneous presence in countries
overseas, avoid and evade taxes in £billions
and are immune from the laws which put criminals in jail. These
dishonourable ‘honorary’ people now daily advise (really control) government. They
draft legislation, form powerful associations, sponsor political parties, avoid
tax and break the law. While you vote once in five years, they are permanently installed
in the corridors of Whitehall and Brussels. We absentmindedly tolerate these self-replicating, cannibals.
ONLY CROOKS INCUR MULTI-
£MILLION FINES.
Bankers
-Goldman Sachs were fined $550 million in USA and £17million by F.S.A. Then BBC consults them as
financial experts!.
Microsoft
fined e53million by E.U., Shell, B.P., Railtrack,(Woolworths), Hasbro (toys) ALL
FINED OVER £1MILLION EACH by O.F.T. : 104 construction firms ‘named’ for fraudulently
rigging bids for public contracts to build schools, hospitals etc
So you didn’t know? SIMONS CONSTRUCTION fined
£838,000, by OFT yet Simons are the Charles Street, (Dorchester) developers.
THE SIZE OF EACH
SECTOR…
In 2007, the total surplus
in the gross domestic product is £343, 934 million
(Annual Abstract Table 16.2) Using
the surplus of the 2007 GDP as a measure of wealth
THE
ABSURDITY OF CHARGING PEOPLE , OR GOVERNMENT AND
ABSOLVING CORPORATIONS BECOMES APPARENT.
THE REASONS WHY COMPANIES SHOULD PAY
The share of wealth argument
(Annual
Abstract, GDP- Income Table 16.2 (2006)-income
share of GDP
The corporate
sector harvests £248,316 m ., 72 % of
the U.K.
nation’s surplus. Government 4% and Households
£82,112m ( 24%) So the choice is between people and
corporations paying.
Clearly Corporations harvest nearly three quarters of the nation’s wealth and have the greatest stake
in the nation’s economy. and dependence on
its future stability.
THE ARGUMENT- why companies should pay.
The
ability to pay argument.
Corporations individually outrank people - in some cases -governments in wealth.
Just one bank,
Messrs Barclays, has a gross capitalization
equivalent to 24% of the Gross
Domestic Product of UK of £1,300
billion. ( £1.3 trillion)
The maturity argument
A typical
government is in office in UK for ten years. Ministers may be in position
for 2 or 3 years. One hundred years, or two hundred and sometimes three hundred
years is the span of established companies.
Control of corporate life-span is needed for democracy’s survival.
The culpability argument
The banks are responsible for manufacturing 95% of the money
supply-not the banknotes but as debt and credit. Over-availability of
credit caused a rampant increase in
house prices. Irresponsible mortgage
lending, (combined with high house prices)caused lack of confidence.Manufacture
of unfathomable and insubstantial packages
of mortgages, their misdescription as assets and
th blind trading
of them inevitable led to alack of trust
in the system by speculatorspeculators prominent among whom were banks There was a run on Northern Rock bank which specialized
in trading mortgages. Clearly the
corporate sector caused the crisis at every stage. Corporations should pay.
The Primacy Argument
Corporations are
a construct and exist only at the grace and convenience of the people.
When they become
harmful the structure needs amendment . It is appropriate to sacrifice
inanimate insensitive corporations
before living sentient
people.
The resilience argument
Cutting child care affects child welfare
Cutting
education leaves a worse educated
population
Cutting health
care is detrimental to people’s health
Cutting
pensions affects people’s
quality of life
IN CONTRAST,
PASSING ALL THE BURDEN OF FISCAL DEBT TO COMPANIES, AS EVIDENCED BY THEIR
RESILIENCE TO REPEATED AND MASSIVE FINES, WOULD NOT AFFECT THEM.
C OMPANIES ARE ABLE AND SHOULD BE WILLING
There are some
1,237,000 incorporated companies trading in UK.
One, SANTANDER, with a capitalisation of £75billion- could alone pay off Portugal’s
sovereign debt
HM Treasury should send each corporations an
invoice for their share of this bagatelle, or people’s welfare will be
sacrificed -
To pay off Corporations’
gambling debts.
COMPANIES
ARE TOO MANY, TOO MATURE, TOO BIG, TOO POWERFUL
TOO RICH.AND TOO UNETHICAL
MANY OF
THEM PURSUE GOALS WHICH ARE ANTI-SOCIAL ON A
NATIONWIDE
SCALE.
THE EFFECT IS THAT DAILY WE EXPERIENCE FROM THEM MAJOR
ASSAULTS ON PUBLIC WELFARE .
THE MEANS ARE TO HAND TO REDUCE THEIR SHARE OF THE NATIONAL ACTIVITY .
By default we have
allowed them to prey on people, strangle individual initiative and capture the
benefits produced by individuals .
An important means by which they do this is by acting on
politicians and political parties to use
parliamentary powers to capture the institutions, public corporations and
public services which were set up at the expense of / for the benefit of
people.
These resources of property and services are then converted
to assets to be used and abused for profit not for public welfare. So people lose twice. People lose control of
a public resource, and the public aims of the resource are diverted and subordinated and sacrificed to the aims
of profit and generating executive
rewards.
Corporations
are out of control. The measures needed
to bring them into control are set out.
CONCLUSIONS (from the table opposite)
Other corporate
misdemeanors established by FSA often don’t result in fines.
Other such major misdemeanors perhaps of the order of 10:1 would not be detected
Add to these fines the
hundreds imposed in UK
by Office of Fair Trading amounting to further £millions and we conclude :
1 serial wrongdoing on a major scale is being carried
out by spiv banks, building societies
insurance companies and financial operators who abandon integrity .
2 The amounts of the misdemeanors
and of the fines establishes the ability of the corporate sector to carry the entire burden of the fiscal
deficit.
3 We also conclude that it is
inadvisable and imprudent for government to
rely on the corporate sector to further national aims for people’s
welfare.
4
The integrity of incorporation and trust as the basis of public life is at risk. The
frequency of fines and the secrecy surrounding EU contributions and
who gets £m CAP handouts points
to stepping up corporate control and government transparency and
accountability..
LAW-BREAKING ON A MASSIVE SCALE
FINANCIAL
SERVICES AUTHORITY FINES IMPOSED ON
COPORATIONS - 2011 15 2008 22 (Annual totals -£millions)
2010 89 2007 5
2009 35
2006 13
Allocation of Fines of £1million or over (£million)
2011
1.4
Norwich and Peterborough
BS 1.2
Barclays Capital Securities
7.7 Barclays Bank 2.8 Royal Bank
of Scotland
2010
2.8
Scottish Equitable
17.5 Goldman Sachs
1.6 Societe Generale 5.6 Zurich
Insurance
33.0
J P Morgan 2.8 “Simon Eagle”
4.0 Waterflood Securities 1.4 Getco Europe
1.7 Kensington
Mortgage Co 2.4 Standard Life
2009
2.4 Barclays
Capital 8.0 UBS AG
1.6 HSBC 1.4 Morgan Stanley
5.3 AON Ltd
2008
7.4 Alliance
and Leicester BS 5.6 Credit Suisse
1.0 HFC Bank
2007
1.3 Norwich
Union Ins. 1.0 Nationwide BS
£ 245,000 only Carphone Warehouse
£ 150,000 only Merryl Lynch
£ 750,000 only Guardian Assurance Source .
FSA web site
FINES IMPOSED BY OFFICE OF FAIR TRADING
On Matel (the toymakers)
£5million
On giant tobacco
manufacturers
£225million
On 8 recruitment agencies
£ 39million
On 103 construction firms (for
rigging bids for public contracts) £ 129million
These are the ones found guilty and punished. How many went unpunished?
How many went undetected.? Many more were fined less than
£1milllion.
THE £3m FINE IMPOSED ON NETWORK RAIL IN THE HIGH COURT , 13 May 2011
THE CRIME
Death of six passengers and one by-stander.
THE EVENT
Rail crash at Potters Bar
THE CAUSE
Criminally negligent maintenance of the track and points
THE GUILTY PARTY
- Two private corporations, Railtrack
and Jarvis
THE GREAT ESCAPE
When it was apparent that Jarvis Engineering were likely to be fined,
the company went into voluntary administration.
THE CORPORATE SCAM
Since Network Rail, the successor to Railtrack, is publicly owned , the innocent party- the
victim – is landed with the bill for fines incurred by the criminal neglect of
the Jarvis corporation.
THE LESSONS
In the event of a corporation going into voluntary administrationwhen a
court case is pending the directors of the company should be put on trial as
persons –incurring if appropriate the normal penalties of persons if found
guilty- in this case imprisonment.
THE APPROPRIATENESS OF FIXING A RVTD IN SUCH CASES.
The ability of a company to
exercise the power of voluntary liquidation
makes the case for the state to
apply the much less onerous sanction of reducing the life-span of an existing
company for malpractice using a Renewable
Variable Termination Date..
At present Companies House has
the reserve sanction of forcing a
company into liquidation.
THE JARVIS STORY
Jarvis Engineering was the giant company responsible for maintaining
the track at Potters Bar
Where, in May 2002, a train
traveling at 100 m.p.h. left the track killing six passengers and one
by-stander..
It had admitted joint liability for
the crash after a humiliating apology after trying to blame a saboteur with
“informed “ engineering knowledge.
The people killed The
Jarvis Directors 2006
Austen Kark,
Steven Norris,M.P. Chairman
Emma Knights
R Entwhistle CEO
Jonael Schickler
John O’Kane Financial
Director
Alexander Ogunwusi, Elizabeth
Filkin
Chia Hsin Lin Prof. Brian Nellit
Chia Chiun Wu.
Christopher Rew
Agnes Quinlivan
Michael Houghton
Kjeil Karlsen
Patrick M Chale
Andrew martin
Geoff Mason
Adrian O’Shea
Bernard Washbrook
Jarvis Group turnover 2004 £1,076m
Profit £71m
Profit after tax £41m
Shareholders no. 7,281
No. of shares 144m
(95% of shares were held by those
holding 25,000 shares or more.)
Jarvis was accused of failing in
the administration , maintenance and inspection of the track ….. but Office of
Rail Regulation dropped its pursuit of the case after the company went into
administration last year 2010. By that
time the faults of the company were well` established.
Network Rail has been fined £3m by St
Albans Crown Court for failings over the Potters
Bar crash.
Network Rail has no shareholders
and its debt is guaranteed by the Government, This means that ANY FINE IMPOSED WILL COME OUT
OF THE PUBLIC PURSE..
A Network Rail spokesman said “We
have been sentenced for failings that contributed to this accident and we
accept the liabilities we inherited from Railtrack.” see D Tel.14May 2011
SETTING AND ACTIVATING A RENEWABLE VARIABLE TERMINATION DATE FOR EACH
REGISTERED CORPORATION RESTORES CONTROL BY REGULATORY AGENCIES OVER THE
CORPORATE SECTOR WHICH DAILY AND VITALLY THREATENS PEOPLE AND DEMOCRACY TO-DAY
IN UK AS IT DID IN AFRICA AND WEST INDIES IN COLONIAL TIMES.
THE ORIGIN OF CORPORATIONS – THEY ARE TOO MATURE
Some three hundred years ago
groups of people were given the
privilege of a corporate identity to
shield individuals from the ultimate consequences when a trade speculation
failed.
Now there are some 1 million plus companies registered in UK
(compared with the adult population of some forty million) but we have
forgotten to give them another human attribute- mortality- with the effect that
they threaten and act to dominate individual humans and suborn their defence of
democratic government.
Companies can capture and use the
resources of millions of people to the company’s benefit and to the peoples’
distress. What was drawn attention to by Conrad (in Heart of
Darkness) and by Sir Roger Casement
applying to the Belgian Congo - a non industrial colony in 1800’s, is now upgraded to exploit the people of UK
in 2011, and to do so with immunity ..
THEY ARE TOO BIG
The Banks are too big to
fail. HMG, acting like irresponsible
spendthrifts, relies on borrowing to fund day to day activities. Issuing bonds , and paying interest on them ,
postpones till to morrow paying for to-days expenditure.
HMG thus sets the example to
profligate spenders. And puts its existence in hock to the financial sector who buy, at interest
government ‘paper (bonds –debts). This
unnecessarily exaggerates the power of the
corporations and betrays the integrity of the people- the people who
take responsibility to pay off the debts of the government, and to bail
out defaulting financiers.
Funding expenditure by debt
to corporations is completely
unnecessary.
It is also not prudent since
corporations are of such wealth and
power they can now manipulate sovereign
states by threatening their currency.
HOUSING , AN EXAMPLE OF A RIGGED MARKET J Armstrong May 2011
There is a housing crisis in UK.
In the private ‘for sale’ sector,
house prices are out of reach of couples
even when both are bringing in average or above salaries.
In the public sector, local
authorities are no longer funded to build council houses.
Millions of council houses have
been sold off and are no longer available.
Waiting lists are
unrealistic. Of the 5million on waiting
lists in England
there is no prospect of many being
provided. For others waits of ten years are usual.
For both private and government
assisted houses , (so called affordable homes),
at a time when there is a huge
unfilled demand, construction of new houses has fallen to a record low
achieving 1920’s levels.
Concurrently population growth,
and increased family formation are
accompanied by government immigration policies significantly increasing net
immigration to 150,000 pa.
Sustained over twenty years.
Government accedes to this situation. The evidence-
1 The high and rising house price stimulate the
financial sector by increasing demand for ever larger mortgages.
This chimes with government
economic policy of increased consumption achieved by accessibility of credit – for
mortgages and via associated borrowing on credit cards and finance for consumer
purchases.
2 The financial sector of the UK
economy accounts for some 32 per cent of GDP, and is the chosen sector of
growth by HM Treasury (compare manufacturing at 12 % and the next biggest, the wholesale and retail trade at 14 %
House builders (“Home-builders” is corporate and government spin) benefit from
this situation.
Giant corporate house builders
such as Taylor- Wimpey- Persimmon make
more profit from the increase in value of their undeveloped landbanks than from building houses.
It pays such house-builders to
restrict the number of houses built. This increases the shortfall, maintains
the high price of new houses and safeguards the
greater increase in the value of the undeveloped land in their massive
landbanks which yields more profit than building hoiuses.
Their exclusive control of land with planning
permission is like the nineteenth century enclosure movement with all its
misery, brought up to date and refined to concentrate on the core high value
permissioned development land.
THE RESULT. Government policy has been tuned to meet the
needs of the financial sector , the
giant corporation in construction and in finance. The needs of 5 million people
desperate for houses- an essential human need for homemaking, has not
only been ignored, but is made infinitely worse in order to make profits for
corporations.
This is a prime example of the
power of corporations, the subversion of government and the abandonment of
peoples’ welfare as the prime motivation of government.
The ARGUMENT FOR CHANGE
5million waiting lists and out of
reach prices caused by government policy is a breach of article 8 of the human
rights convention, which acknowledges the right to family life. Because of the
enclosure of all bulk permissioned
land and the unpunished monopoly
activities of house building corporations with controlling market shares and
with the restrictive Planning regime self supply of new houses is
effectively banned. The total market
has been rigged.
ACTION TO ARRAIGN HMG AT THE HAGUE
IS INDICATED. The process itself will
encourage HMG and regulatory agencies to act to restore market conditions for
house supply.
.
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