January 12, 2013
I urge the Securities and Exchange Commission to issue a rule requiring publicly traded corporations to publicly disclose all their political spending Ėand to do so this year.
As a citizen, I need and demand to know how much corporate money is being used influencing political understanding and discourse. This is not just curiosity. This money--lots of it pouring into media outlets and advertising--is being spent to promote specific corporate goals. These goals are not the goals of good governance or citizenship; these goals are for the good of a company or an industry or even a very wealthy individual. I and all citizens have a need and a right to know who is behind the money, what they are buying and who they support with it.
I also believe that every shareholder has an absolute right to know how much and where this money is spent. Period. It is part of the business bargain of stock ownership.
The SEC has the authority to close to close the loophole that was created by the Supreme Court's ruling in Citizens United v. Federal Election Commission that enables this secret spending. .
Use that authority now. We citizens need it. Shareholders have a right and a responsibility to that knowledge. Insuring corporate integrity is necessary for business health in the United States.
Disclosures should be posted promptly on the SECís web site.
Thank you for considering my comment.