Tag: Delaware corporate law

General Assembly Post-Game Wrap-Up/Pre-Game Show: Weds., June 11, 2014

OK, let’s talk about Delaware’s position as the nation’s corporate leader.  Our lofty perch is not based on having ‘better’ lawyers, ‘better’ judges, or having the abiding respect of the corporate community. We’re in this position because we’ve passed laws that enable corporations  to engage in unsavory practices that otherwise would be considered criminal activity. We make it impossible for people to know who are behind straw corporations, or why these shells exist in the first place. We enable the worst kinds of criminal activity, including arms sales, drug-running, and, yes, human trafficking, by enabling corporations to create impossible-to-follow paper trails. The entire political establishment props this up by worshipping at the feet of the Court of Chancery and by placing those who are its most effective defenders in positions of power. It’s no accident that the preponderance of judgeships go to those from the corporate law community . It’s no accident that people like Ed Friel and Jeff Bullock, both from Carper Cyborgenics, have served as Secretaries of State. They’re all in on Delaware’s dirty secret: Our vast revenues generated by Delaware’s corporate hegemony are derived from Delaware’s willingness, no, eagerness, to enact laws that benefit even the worst actors at the expense of, well, people. In Delaware, corporations are not merely people, they have rights superior to people.  You can put suits on these people, and they can be heralded as Delaware’s best, but they are merely well-learned shills and shysters.

Hey, it’s no surprise that Delaware was the state to legalize usury. We were the most experienced when it came to legalizing criminal activity via corporate shell games.

So it was no surprise that HB 327 and HB 328 flew through the House yesterday, it’s what we do. Every year. In June. A package of bills emerges from the Corporate Section of the Delaware Bar every year. Proponents cite them as necessary to continue Delaware’s pre-eminent position in corporate law. But now you know just what kind of stuff is in these bills. Thanks to the ADA, League of Women Voters, and the Delaware Alliance for Community Advancement, for shining a light on Delaware’s dirty secret. Maybe, just maybe, this will start a debate that should have been taking place all along.

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