May 9, 2012
Due to the U.S. Supreme Court's ruling in Citizens United v. Federal Election Commission, multi-national corporations are spending unprecedented, unlimited, and undisclosed amounts of money to elect candidates to public office. But the immense wealth at their command doesn't really belong to them; it belongs to the shareholders of their companies.
And, no matter how capable, and no matter how powerful this elite group of oligarchs has come to be, they should not be allowed to dump our retirement savings and our investments into their secret political war chests.
You, the Securities and Exchange Commission (SEC), a federal agency charged with protecting the public from fraud and abuse, has the authority to require publicly traded companies to disclose how they spend money to influence our elections. I would like you to require such disclosure. Taking this action will help to contain the corrupting influence of money in politics by bringing it out into the sunlight.
Thank you for your consideration.
James J. Patterson