January 12, 2013
The United States is generally looked upon as the leader in global trends. During the past decades the world has seen how corporate money is taking over US politics and therefore US policy.As goes the US so goes much of the world and therefore if meaningful democracy is to survive in the world, it is imperative that urgent action be taken by the US to curb and reverse this trend.
I am writing to urge the Securities and Exchange Commission to prioritise prompt issuance and implementation of a rule that sets an example for all organisations in all countries by requiring publicly traded corporations to publicly disclose all their political spending.
It is a scandal that money from publicly traded corporations Ė which belongs to investors Ė can be secretly spent to distort your democracy, and this scandal has spread to my democracy (Taiwan).
The interpretations of the US Supreme Courtís rulings from Santa Clara County v. Southern Pacific Railroad Company to Citizens United v. Federal Election Commission have contributed to the Frankensteination of American politics and by adopting and implementing a new rule as suggested, one major loophole that enables this degradation of your democracy, i.e., secret spending, the SEC can do a great service to the cause of true participatory (by individual flesh and blood people) democracy in the world.
All disclosures should be posted promptly on the SECís web site.