An idea for Corporate Speech! – recognize fiduciary duty

This one sounded good enough to Mike McCabe of the Wisconsin Democracy Campaigninvestigating the waves of secret corporate cash going into politics this year, to rate it: “Thanks for the note. Good points. Very well said.”

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Thanks for your work,

Somehow limitless deceptive speech by corporations,… especially in secret,…. especially if misleading about their own shareholders and the public’s interests, isn’t right.

What about the literal meaning of “fiduciary”? Has anyone read the words lately?

Corporations are public trust with a fiduciary duty to act in the interests of others, their public stock holders and the their licensing agency. Perhaps some people think of that as meaning “money, money, money, money”, but the words don’t say that! The words say:

In such a relation good conscience requires one to act at all times forthe sole benefit and interests of another, with loyalty to those interests.
“A fiduciary is someone who has undertaken to act for and on behalf of another in a particular matter in circumstances which give rise to a relationship of trust and confidence.[1]”
fiduciary duty[2] is the highest standard of care at either equity or law. [wikipedia]

Why tolerate it, if the words of the law appear to have been intensionally written, long ago to make this kind of modern practice already illegal?? !!!!!!!!!!!!

phil

 

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