January 18, 2012
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.
As a share holder and small investor I am concerned how the money that the corporations that I have ownership in is being used. Throwing millions of dollars of profits at political campaigns seems to me to be a waste of money that could be used to strengthen the corporations I invest in and the American economy as a whole, if these monies were reinvested into the companies or divided among the shareholders, big and small.
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, with any failure to comply prosecuted to the full extent of the law.
Thank you for considering my comment.