Subject: Comment on File Number 4-637

Novenmber 26, 2012

Dear members of the Securities and Exchange Commission:

I am writing to urge the SEC to issue a rule requiring publicly traded corporations to publicly disclose all their political spending. Free speech is a two way street: the government is obligated to protect public speech, and the "speaker", at the time the First Amendment was ratified, was expected to be publicly known. If Citizens United insists on allowing corporations to use campaign donations as "speech", these corporations also are obligated to disclose such donations, and the SEC, as the primary enforcer of disclosure regulations for listed companies.

Thank you for considering my comment.

Sincerely,

Frank Caruthers