Environmental Liability and Utility Bill
Once environmental liabilities exceed the capacity to re-mediate them those companies with environmental liabilities are to be nationalized.
The current debt and equity holders get nothing other than what a legitimate average citizen is entitled to. There will be no new shares issued!
When they have created that much environmental waste that will indeed cause sickness they can not be run for profit anymore but for the people under the principle of commonwealth.
What is the justification? Pools of coal ash left unattended until they are flushed into our water supply. No responsible adult would allow that to happen. The management shouldn't put up a fuss because of the nationalization either because in theory they could be put in jail for the future health consequences of people that will statistically be deemed to be caused!
Corporate management thinks they are very cute in the way that they can verbally manipulate our government and the people. There is absolutely no reason they can be prevented from going to jail for environmental crimes. Our Constitution is fairly clear with regard to the people having the priority!
In a nationalized corporate the salaries are to be capped.
Watched the 60 minutes episode last night and no American can look at the pools of coal ash in North Carolina and not determine that company had reckless disregard for the people. How many times over how many years were they warned about that pipe going to fail that leaked, per my memory 30,000 tons of toxic coal ash into the waterways? These are not responsible adults deserving of highly paid positions in the United States!
The EPA or DNR or another trusted group determines the liability for a company that has contaminated the environment and then it is easily determined at a glance whether
Through the current operating cycle, without issuing more debt or equity or in the case of Utilities; rate increases that corporation can better than satisfactorily re mediate the liability. And it really only should take less than a week to determine because these are well known facts!
By responsible adult analysis they are defacto bankrupt already when they do not re-mediate a toxic environmental liability or institute required pollution control measures; so the shareholders and bondholders shouldn't act like they didn't know they had something bad coming to them!
When they start telling the Wisconsinite or United States Citizen that they will be taxed if they become energy independent with solar energy it is a willful violation of our Constitutional rights!
Copyright 2014 Thomas Paul Murphy
