March 21, 2012
I want to know how public companies (including the ones that I own stock in, directly and through mutual funds) are spending my money. I'm not happy that public corporations are spending ANY money on political campaigns, but until the irrational ruling of the Supreme Court is reversed, you should at least mandate openess.
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I am deeply concerned about the influence of corporate money on our electoral process.
In particular, 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.
Bob Armao
Troy, NY