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Republicans better kill this shit. Workers represented on the Board? Fuck that. Corporations exist to pay shareholders, not employees.
JIM CRAMER: You've produced a very thoughtful article in the Wall Street Journal about companies shouldn't be accountable only to shareholders. Tell us about it.
ELIZABETH WARREN: All right. So you know how American economy worked for decades, shoot, for centuries. And that was that the biggest companies in this country had multiple responsibilities: a responsibility to their shareholders, to their employees, to their customers, and to the communities that they were involved in. And it worked, right? Everybody got richer--
JIM CRAMER: And we're coming back to it like, a -- Salesforce is saying that. But the vast majority of are not coming back to it.
ELIZABETH WARREN: That's right. Stock market went up. Productivity goes up. And workers do better. We built the great American middle class. And then what happened? You start, basically, in the 1980s. And corporations start shifting over. And they say, "Wait, wait, wait. We have just one, single-minded focus. Shovel as much money as you can into the pockets of the shareholders. And forget about the rest of that stuff." And the consequence has been that the shareholders have done really well. The 10% of Americans that owns more than 80% of all the stocks, shovel money in there. But workers, wages have flattened out. In fact, lately, it looks like hourly wages, adjusted for inflation, have gone down.
Full transcript of interview:
https://www.cnbc.com/2018/08/15/cnb...abeth-warren-speaks-with-cnbcs-jim-crame.html
old video of Cramer bragging about fucking people over and manipulating the market:
Elizabeth Warren has a big idea that challenges how the Democratic Party thinks about solving the problem of inequality.
Instead of advocating for expensive new social programs like free college or health care, she’s introducing a bill Wednesday, the Accountable Capitalism Act, that would redistribute trillions of dollars from rich executives and shareholders to the middle class — without costing a dime.
Warren’s plan starts from the premise that corporations that claim the legal rights of personhood should be legally required to accept the moral obligations of personhood.
Traditionally, she writes in a companion op-ed for the Wall Street Journal, “corporations sought to succeed in the marketplace, but they also recognized their obligations to employees, customers and the community.” In recent decades they stopped, in favor of a singular devotion to enriching shareholders. And that’s what Warren wants to change.
https://www.vox.com/2018/8/15/17683022/elizabeth-warren-accountable-capitalism-corporations
JIM CRAMER: You've produced a very thoughtful article in the Wall Street Journal about companies shouldn't be accountable only to shareholders. Tell us about it.
ELIZABETH WARREN: All right. So you know how American economy worked for decades, shoot, for centuries. And that was that the biggest companies in this country had multiple responsibilities: a responsibility to their shareholders, to their employees, to their customers, and to the communities that they were involved in. And it worked, right? Everybody got richer--
JIM CRAMER: And we're coming back to it like, a -- Salesforce is saying that. But the vast majority of are not coming back to it.
ELIZABETH WARREN: That's right. Stock market went up. Productivity goes up. And workers do better. We built the great American middle class. And then what happened? You start, basically, in the 1980s. And corporations start shifting over. And they say, "Wait, wait, wait. We have just one, single-minded focus. Shovel as much money as you can into the pockets of the shareholders. And forget about the rest of that stuff." And the consequence has been that the shareholders have done really well. The 10% of Americans that owns more than 80% of all the stocks, shovel money in there. But workers, wages have flattened out. In fact, lately, it looks like hourly wages, adjusted for inflation, have gone down.
Full transcript of interview:
https://www.cnbc.com/2018/08/15/cnb...abeth-warren-speaks-with-cnbcs-jim-crame.html
old video of Cramer bragging about fucking people over and manipulating the market:
Elizabeth Warren has a big idea that challenges how the Democratic Party thinks about solving the problem of inequality.
Instead of advocating for expensive new social programs like free college or health care, she’s introducing a bill Wednesday, the Accountable Capitalism Act, that would redistribute trillions of dollars from rich executives and shareholders to the middle class — without costing a dime.
Warren’s plan starts from the premise that corporations that claim the legal rights of personhood should be legally required to accept the moral obligations of personhood.
Traditionally, she writes in a companion op-ed for the Wall Street Journal, “corporations sought to succeed in the marketplace, but they also recognized their obligations to employees, customers and the community.” In recent decades they stopped, in favor of a singular devotion to enriching shareholders. And that’s what Warren wants to change.
https://www.vox.com/2018/8/15/17683022/elizabeth-warren-accountable-capitalism-corporations