From: Leahy for Senate
January 31, 2012
Securities and Exchange Commission
I am writing to express my support for the movement to stop the outrageous form of immunity from fiscal accountability and scrutiny currently enjoyed by US "super-PACs".
In the United States, this is a practically unprecedented model of politically-driven "money laundering" and yet another opportunity for unbridled abuse of power by virtue of wealth, on the part of the small minority of those who can afford to buy into it. We average citizens are constantly called to account to government for all manner of our own financial matters. There is no ethical or legal rationale for one type of group to be allowed a much looser--practically absent--standard. And that "special status" is perpetuated by politicians and elitist favored individuals, who have obvious vested interests in reaping political benefits. Such a situation creates massive material for conflicts of interest (that can be totally, legally concealed), thus should be abolished.
Right now, Super PACs don't have to disclose their unlimited corporate donations. That means they can keep the public in the dark about who's funding the attack ads that bombard their TV screens daily.
That's why I'm joining with the 14 United States senators who formally asked you to use your regulatory authority to require that corporations disclose their spending in elections.
SEC: Exercise your regulatory authority to require public disclosure of corporate political contributions.