September 7, 2012
Dear members of the Securities and Exchange Commission:
I have long believed that corporations, set up to give their investors the best return, have priorities that are corrosive to democracy.
So it is the SEC's role to mitigate the negative effects. It has long been clear that corporate lobbying unduly influences legislation, yet instead of reigning this in, the "Citizens United" decision did exactly the wrong thing. Corporations are NOT citizens; they should NOT be given free speech rights.
Until this dangerous precedent can be overturned, it is imperative that corporations not be allowed to remain anonymous. In fact, the wording of the decision makes it clear that the justices, while allowing unfettered spending, justified their choice by arguing that public disclosure would act as a check on the potential damaging effects of such lop-sided political spending. And yet corporations have managed to keep their donations hidden.
Please, step up, and regulate. Our democracy needs it.
Sincerely, Scott C. Smith