{"id":68,"date":"2007-04-27T01:24:44","date_gmt":"2007-04-27T00:24:44","guid":{"rendered":"http:\/\/kranenburgesq.com\/blog\/2007\/04\/paulsons-piffle-%e2%80%9cwhat%e2%80%99s-in-it-for-us%e2%80%9d\/"},"modified":"2007-04-27T01:24:44","modified_gmt":"2007-04-27T00:24:44","slug":"paulsons-piffle-%e2%80%9cwhat%e2%80%99s-in-it-for-us%e2%80%9d","status":"publish","type":"post","link":"https:\/\/kranenburgesq.com\/blog\/2007\/04\/paulsons-piffle-%e2%80%9cwhat%e2%80%99s-in-it-for-us%e2%80%9d\/","title":{"rendered":"Paulson&#8217;s piffle: \u00e2\u20ac\u0153What\u00e2\u20ac\u2122s in it for us?\u00e2\u20ac\u009d"},"content":{"rendered":"<p align=\"left\">Two magazines on ethics and corporations, Ethisphere Magazine (on its blog, <a target=\"_blank\" title=\"Hey You E.U.! - class action attorneys respond to EU\u00e2\u20ac\u2122s plea to sue companies \u00e2\u20ac\u0153American Style\u00e2\u20ac\u009d \u00e2\u20ac\u201c European business leaders upset\" href=\"http:\/\/ethisphereblog.com\/hey-you-eu-class-action-attorneys-respond-to-eu%e2%80%99s-plea-to-sue-companies-%e2%80%9camerican-style%e2%80%9d-%e2%80%93-european-business-leaders-upset\/\">here<\/a>) and Ethical Corporation (<a target=\"_blank\" title=\"Corporate governance in America: Principles, Paulson and piffle\" href=\"http:\/\/www.ethicalcorp.com\/content.asp?ContentID=5027\">here<\/a>), have earlier this month published articles on class actions in Europe and corporate governance in America, respectively. The Ethisphere blog post, as commented on there by yours truly, elaborates on &#8220;class action attorneys&#8217; respon[se] to EU\u00e2\u20ac\u2122s plea to sue companies &#8216;American Style'&#8221;.<\/p>\n<p align=\"left\">The latter is far more interesting however, as it picks apart a statement on corporate governance and competitive corporations by US Secretary of the Treasury Henry M. Paulson. A quote:<\/p>\n<blockquote><p>Correcting lawyer misbehavior has no logical connection to my right as a shareholder or a consumer to seek compensation for corporate misfeasance that harmed me \u00e2\u20ac\u201c financially or otherwise. By damning the victim\u00e2\u20ac\u2122s agent, the Treasury Secretary gets to blame the innocent victim with impunity.<\/p><\/blockquote>\n<p align=\"left\">And the conclusion:<\/p>\n<blockquote><p>So [Paulson&#8217;s plan is to] loosen corporation regulation, at least on securities issues, and protect companies from punishing shareholder lawsuits. Then corporations will show that they\u00e2\u20ac\u2122ve earned these privileges. It\u00e2\u20ac\u2122s rewards first, performance later. [&#8230;] What\u00e2\u20ac\u2122s on offer, then, to shareholders and consumers is piffle in exchange for the right to protect themselves. That is Secretary Paulson\u00e2\u20ac\u2122s \u00e2\u20ac\u0153principles-based\u00e2\u20ac\u009d play here.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Two magazines on ethics and corporations, Ethisphere Magazine (on its blog, here) and Ethical Corporation (here), have earlier this month published articles on class actions in Europe and corporate governance in America, respectively. The Ethisphere blog post, as commented on there by yours truly, elaborates on &#8220;class action attorneys&#8217; respon[se] to EU\u00e2\u20ac\u2122s plea to sue [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-68","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/kranenburgesq.com\/blog\/wp-json\/wp\/v2\/posts\/68","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kranenburgesq.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kranenburgesq.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kranenburgesq.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/kranenburgesq.com\/blog\/wp-json\/wp\/v2\/comments?post=68"}],"version-history":[{"count":0,"href":"https:\/\/kranenburgesq.com\/blog\/wp-json\/wp\/v2\/posts\/68\/revisions"}],"wp:attachment":[{"href":"https:\/\/kranenburgesq.com\/blog\/wp-json\/wp\/v2\/media?parent=68"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kranenburgesq.com\/blog\/wp-json\/wp\/v2\/categories?post=68"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kranenburgesq.com\/blog\/wp-json\/wp\/v2\/tags?post=68"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}