Existing Conflict Of Interests In The Netherworld Of Foundations,Trusts,Endowments,And Estates
November 9th, 2007
Dear Citizen,
This is about foundations and the role attorney's play. Attorneys are supposed to have the same capacity as car inspectors. Even though they work for the client, they still have to certify to the appropriate government branches that the client is in compliance with all applicable regulations and law. Foundation and estates are basically compelled to hire attorneys to ensure this compliance. This is analogous to mandates requiring people to have their vehicles inspected by authorized garages. If the "authorized garage" inspected vehicles they have a stake in, it would be a corrupt conflict of interest.
Yet attorneys partake in this by awarding themselves decision-making authority over these foundations they are supposed to regulate. Attorneys often earmark estate, foundation, and corporate funds to organizations that they have an affiliation. They often include family members or cronies in the process. In Communist China, party members are executed for having direct or personal connections. Yet in America, attorneys are instead exalted as leaders of such institutions. Much of this violates written law.
The intermixing of resources and influence between public and private sectors is contaminating America by creating nexuses and unholy alliances. If an entity or institution cannot be sustained by free market forces, then let it wholly owned and operated by government. Then at least blatant personal interests will not be openly served as everything will be done in deference to the State. Civil servants will be within the scope of the laws as they cannot do as they please. There will not be the cult of personalities as exist with foundations as people can utilize other people's money based on their personal whim.
When the law is only as good as its enforcers because of lack of accountability, raw power will prevail.
Very Truly Yours,
Harsha Sankar
908 Valley Ridge Road
Covington,Virginia 24426
Dear Citizen,
This is about foundations and the role attorney's play. Attorneys are supposed to have the same capacity as car inspectors. Even though they work for the client, they still have to certify to the appropriate government branches that the client is in compliance with all applicable regulations and law. Foundation and estates are basically compelled to hire attorneys to ensure this compliance. This is analogous to mandates requiring people to have their vehicles inspected by authorized garages. If the "authorized garage" inspected vehicles they have a stake in, it would be a corrupt conflict of interest.
Yet attorneys partake in this by awarding themselves decision-making authority over these foundations they are supposed to regulate. Attorneys often earmark estate, foundation, and corporate funds to organizations that they have an affiliation. They often include family members or cronies in the process. In Communist China, party members are executed for having direct or personal connections. Yet in America, attorneys are instead exalted as leaders of such institutions. Much of this violates written law.
The intermixing of resources and influence between public and private sectors is contaminating America by creating nexuses and unholy alliances. If an entity or institution cannot be sustained by free market forces, then let it wholly owned and operated by government. Then at least blatant personal interests will not be openly served as everything will be done in deference to the State. Civil servants will be within the scope of the laws as they cannot do as they please. There will not be the cult of personalities as exist with foundations as people can utilize other people's money based on their personal whim.
When the law is only as good as its enforcers because of lack of accountability, raw power will prevail.
Very Truly Yours,
Harsha Sankar
908 Valley Ridge Road
Covington,Virginia 24426
posted by Harsha Sankar at 11:36 PM
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