R A Epstein on forced nationalizing of US bz (2 of 2) Elizabeth Warren reaches into American corporate boards, directs who's on the board and how it conducts itself. Caveat caveat: Due process and equal protection laws of the Fourteenth Amendment.
Photo: Stock certificate issued by Delaware, whose regulations are nothing like California’s and will not mix smoothly.
Richard A Epstein on how Jerry Brown wants to decide how many females may be on a corporate board in relation to how may males; similar to Elizabeth Warren’s proposed legislation. When there’s govt coercion, need to be sure that people get a fair rate of return. . . .
To boot, many California companies are incorporated in Delaware. When California sets out to impose its regulations, you can imagine the royal Donnybrook. . . .
WSJ on Liz Warren: https://www.wsj.com/articles/elizabeth-warrens-corporate-illogic-1536705547?mod=hpopinpos3