January 13, 2013
Securities and Exchange Comm.
Dear Securities and Exchange Comm.,
I’m writing to urge the commission’s prompt approval of rules requiring public disclosure of political spending by publicly-held companies. Disclosure is vital to the SEC’s responsibility to ensure that investors have the information they need to make sound decisions about when and where to put their money. Shareholders also have a right to know how companies in their investment portfolios are investing that money, particularly when the spending falls outside the company’s normal business activity.
Not only should companies have to disclose their contributions, they should be strictly limited in the amount they can contribute to any candidate in any election cycle.
It is obscene that corporations are able to veritably buy senate seats and to shovel as much money as they can afford into the coffers of the presidential candidate of their choice. It is one thing for a senator or representative to uphold the interests of a company that provides subastantial employment in their state or district: it is quite another for any corporation or idustry to be able to 'buy' a seat for a congressman or senator, or to "own" a president.
Thank you for considering my comment.
John Van Horn