January 13, 2013
Securities and Exchange Comm.
Dear Securities and Exchange Comm.,
The enormous expenditure of private, and often undisclosed, sums of money by corporations in the last election was a national disgrace. We cannot afford to have our elections bought by self-interested Boards of Directors in which shareholders and investors have no knowledge or input on those expenditures. Otherwise we are simply allowing oligarchs to fund their own interests using shareholder funds contrary to the intention, desires, interests and knowledge of their investors.
The SEC must shoulder its responsibility to end this kleptocratic practice by requiring full disclosure of any political spending by publicly held corporations. The shareholders will then be empowered to dismiss board members who take actions contrary to their own political views or divest from the company entirely.
Your action on this crucial matter will be greatly appreciated.