January 31, 2012
Securities and Exchange Commission
Dear Commission,
When I see a political ad urging me to vote for or against a candidate or bill I need to know who sponsored the ad if I am to make an informed decision. I need to know whether the ad is objective, partisan or special interest oriented. Without full disclosure of who runs the ad and, more importantly, who funds the organization that runs the ad, there is no way to know. Any donation at or above the limitation for an individual's donation to a candidate must be disclosed.
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.
Sincerely,
Lawrence Fontes