Subject: Comment on File Number 4-637

January 18, 2012

As a United States citizen and voter, I believe the secret influence of corporate moneys on our electoral process is egregious and deeply counter to the founding principles of our democratic republic..

As a long-time investor -- and therefore part owner of many publicly traded corporations -- I believe it is my right to know how corporate profits are being spent. Since a corporation's political activities may not be congruent with my political and policy choices, knowing how a corporation's political expenditures are distributed will allow me to make informed decisions regarding investments.

Bottom line: I am appalled that, because of the Supreme Court's ruling in Citizens United v. Federal Election Commission, publicly traded corporations can spend investor's money on political activity in secret.

I am writing to urge the Securities and Exchange Commission 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.

Thank you for considering my comment.

Steven C. Spencer

Steven Spencer

Anacortes, WA