Chamber of Commerce, mostly funded by 19 U.S. corporations, raised and spent $75 million pushing the corporate agenda of reduced regulation – in order to increase shareholder value.

The question becomes where is the line.

We let Big Tobacco lobby their cause until it became apparent they were wrong about cigarettes being healthy. They persisted for decades. When should they have stopped and said “Have we crossed the line from working for shareholder value to behaving immorally if not criminally?”

Today Big Oil tells us climate change has nothing to do with their actions. They have the right to lobby their cause. Regulation will effect profits; or so they would say. (Others point to how new technology has always increased profits.) At what point are they obligated, not obliged, to step back from theline? When the shareholders say enough to the immoral, sometimes illegal, unsustainable, unfettered greed that drives the behavior?

Shareholders need to realize the corporations are not capable of stopping themselves. Push the line for greater profits or move aside for the next guy to create value! Shareholders need to step-up and say
enough.

Recent editorial from Editor of The Nation:

Decades ago the Chamber of Commerce enjoyed a Norman Rockwell-like image in the minds of many Americans: working in the interest of mom-and-pop stores everywhere and sponsoring community events such as Little League baseball and holiday parades.

And while there may still be some local chambers that fit that bill, this election cycle has given a much clearer picture of what the U.S. Chamber of Commerce is all about – except when it comes to lobbying to make their health care more expensive, privatize their social security and outsource their jobs .

The U.S. Chamber stated that its goal has been to spend $75 million on a midterm election that will break fundraising records. Its war chest is devoted almost entirely to defeating Democrats who take on big corporate interests. While Chamber President and chief executive Tom Donohue would have Americans believe that his organization is still working in the interest of small and mid-sized businesses, that’s simply not true. In 2008, a third of its income came from just 19 members – big companies to whom the chamber is beholden . That probably explains why only 249 of 7,000 local chambers are now members, and why more and more are dropping out.

via Katrina vanden Heuvel – Chamber of Commerce backlash.