April 29, 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 disallow any corporate political contributions or as the only but poor alternative, to publicly disclose all their political spending.
As a shareholder in many corporations, I don't want my corporate dollars spent on the corporate executives personal political preferences or for any political reasons for that matter and feel there needs to be a law against this use of corporate funds. Is there anyone at the SEC brave enough to enact a rule to this effect if not, at the very, very least, corporations should have to disclose how much the corporation spends on politics and which candidates are being promoted or attacked with mandatory disclosures posted promptly on the SEC's web site.
Not only do the true owners/shareholders have only a useless non-binding say on executive pay and no guaranteed % of profits for dividends but we also have zero control over our investment $ held by these corporations. An economically & ecologically very dangerous situation. No wonder more investors are selling US holding and investing in foreign companies. Thank you for considering my comment.