November 26, 2012
Dear members of the Securities and Exchange Commission:
I am writing to urge the SEC to issue a rule requiring publicly traded corporations to publicly disclose all their political spending.
Both shareholders and the public must be fully informed as to how much the corporation spends on politics and which candidates are being promoted or attacked. Disclosures should be posted promptly on the SEC's web site.
Pension funds and mutual funds are buying stock in our names. They are required to disclose what they buy. They should not be allowed to buy any stock that they cannot fully analyze on our behalf. And the firms that manage our pension funds (and their parent or holding companies) should not be allowed to make political contributions with our money or with "administrative" fees they charge us.
Most of us cannot go to the stockholder meetings to hold the management of the companies we own accountable. We expect the fund managers to do that for us. We do not expect them to fund the candidates. Let us fund candidates we choose, with the return on our corporate investments. And require them to report to owners of the funds what they do with every penny of our investments and fees.
Thank you for considering my comment.
Catherine S Logsdon