Corporate Law Quotes
1st Baron Thurlow. This famous statement expressed the great concern and distrust that England had for corporations. Their worst fears were exceeded by the 20th century and was completely over the top by the 21st century when many corporations could control entire nations and even in America and the UK, they were very powerful and often acted against the public and even national interest with impunity. The chancellor was very concerned as to how the behavior of corporations would be controlled and regulated. For individuals, there was a combination of conscience and legal punishment to control behavior. Partnerships were an extension of individuals. But what was the corresponding mechanism for corporations? The same question is often asked in modern times when corporate scandals and excesses are brought to light. See {586120} for another version of this concern that was stated a few generations later.
Romney was trying to explain that the Supreme Court had recently ruled that for purposes of placing limits on campaign donations, corporations were entitled to the same rights of free speech and contributing money as people. The candidate chose this statement to express that view. However, the way Romney phrased it made many people suspect that perhaps, because of his lifetime corporate activity, he really thought that there were no differences between corporations and people. This suspicion reinforced a public feeling that Romney was much more corporately oriented than he was people oriented, and that hurt Romney with many voters.
This quotation, in addition to posing a challenging political question, illustrates an oratorical technique that he was particularly good at. Instead of making declaratory and accusatory statements about the administration and their law enforcement record, he asks the question of how the actual outcome came about. The failure is then clear, and the accusation is made in the minds of many if not most of this audience.
The influence of monied corporations had reached a degree that there was a national backlash and this law was passed. A century later, the problem was even worse. Instead of corporations giving money to candidates campaigns, corporations give money to Political Action Committees (PACs). Corporate money still is a major factor in politics.
McCain held this view despite the fact that most other politicians of his party supported removal of any corporate restraints.
