From: OSPIRG
March 13, 2012
The Securities and Exchange Commission
Dear Securities and Exchange Commission,
Millions of dollars are flooding the airwaves for or against candidates, and much of that money is untraceable. Right now, a corporation could be sinking millions of dollars into a political campaign and the actual owners of the company, the shareholders, would have no idea.
Both shareholders and the public must be fully informed as to how much a corporation spends on politics and which candidates are being promoted or attacked.
I urge the Securities and Exchange Commission to issue a rule requiring publicly-traded corporations to disclose all their political spending.
I strongly urge the SEC to compel publicly-traded corporations to make public any and all spending in support of particular politicians, particular political issues, and lobbying activities to influence legislative outcomes. I also want all contributions by such corporations to political PACs disclosed to shareholders and the public. In other words, all such corporations should be required to make known to their shareholders and to the general public all the political spending in which these corporations are engaged.
With the new ruling by the very conservative (should I be truthful and say "reactionary") Roberts Supreme Court, with its love affair with big business and big money, that allows big corporations and billionaires a free hand in buying elections and political outcomes, the SEC needs to require these corporations to at least make public how they are using their wealth to corrupt, and ultimately destroy, the democratic system in our country.
Please act now!!
Jim McLendon
Sincerely,
Jim McLendon