January 18, 2012
The influence of corporate money on our electoral process is as longstanding as the Union. It just fluctuates in terms of its size and power; but when corporations rule -- with little or no restraint -- the public loses, big time.
The outrageous Supreme Court's ruling in Citizens United v. Federal Election Commission, is thoroughly wrong. It allows publicly traded corporations to spend investor's money on political activity without disclosing the connections. That doesn't even let shareholders know what political maneuvering corporations are doing, much less the general public.
I URGE the Securities and Exchange Commission to act with due haste 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.
The SEC should be protecting our Democratic Republic. Please do use your good office to do that.
Thank you for considering my comment.