ABSTRACT
This chapter describes corporate charter, the law in each state that defines the purpose and governance of business to try to ensure that corporations would serve the public rather than vice versa. The charter laws are essentially the constitution of the corporation, where the early charters defined the corporation as a creation of the public to serve the common good. Corporate welfare is really a system of forced popular investment through taxation and government subsidies in huge companies, without popular consent. If the people finance the corporations, the corporations should be accountable to them. 'No taxation without representation'. Americans are waking up to this especially with the shock of United Citizens. The United States actually became a major and controlling shareholder in huge financial firms such as AIG and in the case of the auto companies, such as General Motors, actually took over the company completely. Crises will keep coming, and Americans will increasingly realize they live in 'Bailout Nation'.
