April 30, 2013
The US Supreme Court's decision in the Citizens United v. Federal Election Commission defied common sense and is unlikely ever to be overturned by a constitional amendment. This is unfortunate. I am all in favor of free speech, but I have a right to know what is being spoken by corporations that use my investment money to speak on my behalf. The chances are excellent that I won't agree with what is being said. Knowing what has been siad allows me to take appropriate action.
I urge the Securities and Exchange Commission to issue a rule requiring publicly traded corporations to publicly disclose all their political spending to shareholders in a timely manner. Timely means not just once a year in a vague statement in the annual report, but in real time with real names of what cause, candidate, or political agenda has been supported, and how much has been spent. One idea is that disclosures should be posted promptly on the SEC’s web site.
Thank you for considering my comment.