April 28, 2012
Dear members of the Securities and Exchange Commission:
I am an investor. I don't have a lot of money invested, but I am very conscientious about where I put my money. The corporations that I invest in are spending their money on something, and I feel I am entitled to know what they are lobbying and who their are supporting. Why am I pretending to be an environmentally concerned citizen if I am investing in a pollution supporting politician or cause?
The Supreme Court republican of the United States said that corporate spending on elections would not be an influence because we could decide, based on the identity of the buyer, on the veracity of the ads we see on TV. They said this even though they had written a decision that required no such disclosure. You know and I know that you are the only force in place that could possibly have the authority to require disclosure and I the taxpayer who pays your salary am demanding it. You dropped the ball on the mortgage backed securities debacle because you were asleep at your desk. Are you going to act or flake out?
I am writing to urge the SEC 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.
James Michael Kelly