Going back to the 19th century and the growth of the DuPont Corporation, the small state of Delaware has long been in thrall to big businesses. In fact, the state’s website says:
More than one million business entities take advantage of Delaware's complete package of incorporation services, including modern and flexible corporate laws, …
Going back to the 19th century and the growth of the DuPont Corporation, the small state of Delaware has long been in thrall to big businesses. In fact, the state’s website says:
More than one million business entities take advantage of Delaware's complete package of incorporation services, including modern and flexible corporate laws, our highly-respected Judiciary and legal community, a business-friendly government, and the customer-service-oriented staff of the Division of Corporations. You can also stay current on Delaware Corporate Law and explore more reasons why you should incorporate in Delaware.
The Biden family certainly has close connections to these interests and will do nothing to change them. But it wouldn’t matter if one state did that. When I lived in South Dakota in the early ‘80s, Citibank built a credit card center there. I even worked in it as a temp, a thoroughly miserable experience. This was built after the corporation got the state legislature to remove usury caps on credit cards. They could then be sold everywhere and that was the start of the industry’s sky high interest rates.
To some extent it makes sense that corporations grew. The America of 1890 was far larger, economically, demographically and geographically than that of 1790. Businesses and laws had to adapt to larger markets reached by faster transportation systems. But clearly by 1990 governments had lost control of the process—and on a global scale too. With “East India Companies” everywhere, altering the legal landscape in just a few places won’t really help. If every country doesn’t overcome its corruption to join the effort, there will always be a Delaware or South Dakota someplace.
Going back to the 19th century and the growth of the DuPont Corporation, the small state of Delaware has long been in thrall to big businesses. In fact, the state’s website says:
More than one million business entities take advantage of Delaware's complete package of incorporation services, including modern and flexible corporate laws, our highly-respected Judiciary and legal community, a business-friendly government, and the customer-service-oriented staff of the Division of Corporations. You can also stay current on Delaware Corporate Law and explore more reasons why you should incorporate in Delaware.
The Biden family certainly has close connections to these interests and will do nothing to change them. But it wouldn’t matter if one state did that. When I lived in South Dakota in the early ‘80s, Citibank built a credit card center there. I even worked in it as a temp, a thoroughly miserable experience. This was built after the corporation got the state legislature to remove usury caps on credit cards. They could then be sold everywhere and that was the start of the industry’s sky high interest rates.
To some extent it makes sense that corporations grew. The America of 1890 was far larger, economically, demographically and geographically than that of 1790. Businesses and laws had to adapt to larger markets reached by faster transportation systems. But clearly by 1990 governments had lost control of the process—and on a global scale too. With “East India Companies” everywhere, altering the legal landscape in just a few places won’t really help. If every country doesn’t overcome its corruption to join the effort, there will always be a Delaware or South Dakota someplace.