This is why we should never vote Congressmen nor Senators to be President.
Congressman Dan Rohrbacher wrote a commentary piece for the Washington Times recently, lambasting corporations for their short term mentality, and for moving operations overseas to get cheaper labor. They talk about values and say these corporations are “unsympathetic” to American interests, they say General Motors is on a “seff destructive path.”
The purpose of a corporation is very single minded. It is to provide the maximum value for its shareholders. While it certainly gains value by protecting its employees and often in reaching out to the community, anything in excess of what it takes to
Congressman Rohrabacher does not seem to recognize the culpability of Congress in this drama.
Let’s take a look.
Blame the mortgage crisis on Wall Street? Wrong. Congress and the White House cooked up the idea that poor folks need to buy houses and then encouraged and indeed required banks to make such loans. The mortgage industry found a way to make money and went wild, building a vast capital formation on a shaky foundation. This is what we call “unintended consequences” and Congress never seems bright enough to understand them.
Want corporations to have Christian values? Then why make it so institutes for corporations to adhere to these principles?
Don’t want jobs to go overseas? Congress has passed trade agreements that make it much easier to move jobs overseas. These trade agreements have their benefits, but does Congress not see the part they play in these jobs leaving America?