Patrick Byrne, Overstock.com

5) How Corporate Democracy Became a Hoax

Wall Street profits from this crime, but it has shattered corporate governance in America. That is because corporate governance is built on corporate elections, corporate elections are built on corporate voting, and corporate voting is built on quicksand. Why? because the phantom stock creates phantom votes, and the system loses track of which votes are legitimate and which phantom.

Coming soon - Unsettled Trades & Corporate Governance

January 26th, 2008 by Patrick Byrne

I mention on the front page of Deep Capture that I am writing these chapters one-by-one, section-by-section, and not in any special order (at least, not in one I will reveal here).

You are reading this because I have yet to post an opening blog for the chapter, “Corporate Governance Has Become a Hoax.” That’s OK: continue clicking down the list of chapters, as I am adding content to some of the later ones first. Check back in a few weeks for the first blog of this chapter.

Regards,
Patrick

PS If you don’t want to wait, you can get a great explanation from this Bloomberg article on the Corporate Voting Charade.

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