I think it's much worse than what Mr. Mokhiber describes. For one thing, just as it's easier to own a bank (and thereby print money out of thin air) than to rob one; it's easier to alter law so that the issue of breaking it is no longer relevant.
Take treaties like the TPP and TIPP: These legal twists on responsibility, liability, and basic environmental and labor laws are designed to make law virtually obsolete. If corporations can enshrine the quest for profits above all other would-be legal actions, and if private corporate tribunals get to decide these cases, then nothing remotely akin to established laws will exist. There will be no legal imperative to protect the commons, civil liberties, environmental protections, or labor rights.
THAT is the goal. And it constitutes an end-run around former wise, hard-won, and established laws, entirely! Currently the Plutocrats are advancing this agenda with Obama as much its poster-child as was Clinton for NAFTA.