NewYorkGiantsFans.com

University of Alaska Professor Richard Seifert - Alaska Fund

Uploaded by: AlaskaSunDotOrg
Video Description:
Open Letter to Alaskans, and Board Members of the Alaska Permanent Fund Corporation Fellow Alaskans:
The United States Capitalist system, particularly many of its corporations, are now clearly in the midst of a huge corporate crime wave.
Enron, Halliburton, Worldcomm, and many others have used irregular and
dubious accounting schemes in collusion with their accounting partners, to
defraud, corrupt and devalue the investments of millions of Americans, all
Alaskans, most pension fund participants, and private foundations and
citizens. Of course this includes Alaskas great public treasure, the
Alaska Permanent Fund. My profound concern about the shattering of public
confidence and the huge loss of wealth represented by these crimes and
their eventual exposure and emergence, is that it puts all Alaskans at
risk, and in a crisis of confidence. This is of course due to the huge
connection we have to corporate America through investment of billions of
our dollars in the Alaska Permanent Fund. It is my contention that this
situation will worsen, and that the Alaska Permanent Fund should take
aggressive and serious steps to protect our future and its major resource
through concerted demands for justice, legal protection and fiscal action.
First, the Permanent Fund Board should demand doubling of the
enforcement divisions staff of the Securities and Exchange Commission
(SEC) with the finest competent people available. Next you should
consider massive divestiture of stock investments in corporations which
refuse to allow stockholder control of the company. Ownership should mean
control. In todays corporate system, corporations control the assets and
stockholders are largely powerless to make necessary changes. As a
carpenter in Connecticut was recently quoted, I wont invest one penny
more in any stocks unless I know that brokers or corporate leaders who lie
or defraud me will go to jail, AND pay back their fraudulently obtained
wealth. That is the plainest statement of the justice I urge you to seek.
Be aware that the lost confidence in the stock market, and the declining
prices and indices have already cost more than six trillion dollars!! The
Permanent Fund Board is in a unique position to demand action, protection
of our public assets, and to apply huge pressure on the federal government
to ensure the well-being and safety of our Permanent Fund. We deserve this
and will accept nothing less. You simply cannot allow this theft of our
public wealth and the security it provides. If ever there was a time for
action it is now.
Particularly, you must demand these two actions immediately:
1. The federal government must defend and strengthen the civil
justice system, apply criminal laws against corporate crime, and fully
prosecute corporate fraud and abuses.
2. You must ensure that investor-shareholder rights are
strengthened, as well as authority over officers and boards of directors
(yes this means you too!!!) so that those who own companies also control
them. End the massive corporate welfare schemes that distort and
misallocate public budgets. Reintroduce the historic function of corporate
chartering as an instrument of ensuring corporate accountability and the
sovereignty of the people. Most important of all, seek reversal of the
supreme court decision which gave corporations the same legal status as
human beings. This distortion of the commonweal is a huge corruption and a
root cause of much of the present criminal abuse. We find ourselves in
the situation we do precisely because corporations are NOT people.

Related Videos

MyUA University of Alaska Promo	Alaska Permanent Fund Dividend for all Alaskan's to share	crazy alaskans
Sarah Palin or Ralph Nader -Alaska Dividend idea- National Oil Revenue & Pollution Fines, invested in Alternative Energy, returning a dividend to every Adult and Child in America	University of Alaska Southeast Theatre Program	University of Alaska Crosswalk

Comments for this video: Show || Hide


Tell a friend:

1. Your name:
2. Your friend's name:
3. Your friend's e-mail:
4. Your message:

URL
Embed Code